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HYTN Innovations has received an initial purchase order under manufacturing and pricing agreements with SNDL, marking a significant step in their partnership for international cannabis markets. The collaboration, established in August 2024 with a two-year term, involves HYTN processing EU GMP-certified cannabis products for SNDL.
The initial order includes EU GMP-certified dried cannabis flower with multiple cultivars for export to the UK, with processing expected to complete by February 2025. Import permits from the UK’s Home Office were received on January 6th, with shipping anticipated in Q1 2025.
This partnership targets key international markets including the UK, Germany (estimated CAD $2 billion medical cannabis market), and Australia (exceeded AUD $200 million in 2022). HYTN’s EU GMP manufacturing capabilities combined with SNDL’s market presence positions both companies for expansion in the global cannabis industry.
HYTN Innovations ha ricevuto un primo ordine di acquisto nell’ambito di accordi di produzione e prezzo con SNDL, segnando un passo significativo nella loro partnership per i mercati internazionali della cannabis. La collaborazione, avviata nell’agosto 2024 con un termine di due anni, prevede che HYTN elabori prodotti di cannabis certificati EU GMP per SNDL.
Il primo ordine include fiori di cannabis essiccati certificati EU GMP con molteplici cultivar per l’esportazione nel Regno Unito, con l’elaborazione prevista per completarsi entro febbraio 2025. I permessi di importazione dall’Home Office del Regno Unito sono stati ricevuti il 6 gennaio, con spedizioni anticipate nel primo trimestre del 2025.
Questa partnership mira a mercati internazionali chiave, tra cui il Regno Unito, la Germania (mercato della cannabis medica stimato in CAD $2 miliardi) e l’Australia (che ha superato i AUD $200 milioni nel 2022). Le capacità produttive certificate EU GMP di HYTN, unite alla presenza di mercato di SNDL, pongono entrambe le aziende in una posizione favorevole per l’espansione nell’industria globale della cannabis.
HYTN Innovations ha recibido un pedido inicial bajo acuerdos de fabricación y precios con SNDL, marcando un paso significativo en su asociación para los mercados internacionales de cannabis. La colaboración, establecida en agosto de 2024 con un plazo de dos años, implica que HYTN procese productos de cannabis certificados por EU GMP para SNDL.
El pedido inicial incluye flores de cannabis secas certificadas por EU GMP con múltiples cultivares para exportación al Reino Unido, con el procesamiento previsto para completarse en febrero de 2025. Los permisos de importación de la Home Office del Reino Unido se recibieron el 6 de enero, con envíos anticipados en el primer trimestre de 2025.
Esta asociación se dirige a mercados internacionales clave que incluyen el Reino Unido, Alemania (mercado de cannabis médico estimado en CAD $2 mil millones) y Australia (superó los AUD $200 millones en 2022). Las capacidades de fabricación certificadas por EU GMP de HYTN, combinadas con la presencia en el mercado de SNDL, posicionan a ambas empresas para la expansión en la industria global del cannabis.
HYTN Innovations는 SNDL과의 제조 및 가격 협정에 따라 초기 구매 주문을 받았습니다. 이는 국제 대마초 시장을 위한 파트너십에서 중요한 단계입니다. 2024년 8월에 설립된 이 협력은 2년의 기간을 가지며, HYTN은 SNDL을 위해 EU GMP 인증을 받은 대마초 제품을 가공합니다.
초기 주문에는 다양한 품종의 EU GMP 인증 건조 대마꽃이 포함되어 있으며, 이는 영국으로 수출됩니다. 가공은 2025년 2월까지 완료될 예정입니다. 영국의 내무부에서 발급하는 수입 허가는 1월 6일에 수령하였으며, 발송은 2025년 1분기로 예상됩니다.
이 파트너십은 영국, 독일(약 CAD $20억 규모의 의료용 대마초 시장), 호주(2022년 AUD $2억 달러 초과) 등 주요 국제 시장을 대상으로 하고 있습니다. HYTN의 EU GMP 제조 능력과 SNDL의 시장 존재감이 결합되어 두 회사는 글로벌 대마초 산업에서의 확장을 위한 유리한 위치에 있습니다.
HYTN Innovations a reçu une commande d’achat initiale dans le cadre d’accords de fabrication et de tarification avec SNDL, marquant une étape significative dans leur partenariat pour les marchés internationaux du cannabis. La collaboration, établie en août 2024 pour une durée de deux ans, implique que HYTN traite des produits de cannabis certifiés EU GMP pour SNDL.
La commande initiale comprend des fleurs de cannabis séchées certifiées EU GMP avec plusieurs cultivars pour l’exportation vers le Royaume-Uni, avec un traitement prévu d’ici février 2025. Les permis d’importation du Home Office du Royaume-Uni ont été reçus le 6 janvier, avec des expéditions anticipées au premier trimestre 2025.
Ce partenariat vise des marchés internationaux clés, y compris le Royaume-Uni, l’Allemagne (marché de cannabis médical estimé à 2 milliards CAD $) et l’Australie (qui a dépassé 200 millions AUD en 2022). Les capacités de fabrication EU GMP de HYTN, combinées à la présence sur le marché de SNDL, positionnent les deux entreprises pour une expansion dans l’industrie mondiale du cannabis.
HYTN Innovations hat eine erste Bestellung im Rahmen von Herstellungs- und Preisvereinbarungen mit SNDL erhalten, was einen bedeutenden Schritt in ihrer Partnerschaft für internationale Cannabis-Märkte darstellt. Die Zusammenarbeit, die im August 2024 mit einer Laufzeit von zwei Jahren gegründet wurde, umfasst die Verarbeitung von EU GMP-zertifizierten Cannabisprodukten durch HYTN für SNDL.
Die erste Bestellung umfasst EU GMP-zertifizierte getrocknete Cannabisblüten mit mehreren Sorten zur Ausfuhr ins Vereinigte Königreich, wobei die Verarbeitung voraussichtlich bis Februar 2025 abgeschlossen sein wird. Die Einfuhrgenehmigungen des Home Office des Vereinigten Königreichs wurden am 6. Januar erhalten, wobei der Versand im ersten Quartal 2025 erwartet wird.
Diese Partnerschaft zielt auf wichtige internationale Märkte ab, darunter das Vereinigte Königreich, Deutschland (geschätzter Markt für medizinisches Cannabis von CAD $2 Milliarden) und Australien (überstieg 2022 AUD $200 Millionen). Die EU GMP-zertifizierten Produktionsmöglichkeiten von HYTN in Kombination mit der Marktpräsenz von SNDL positionieren beide Unternehmen für eine Expansion in der globalen Cannabisindustrie.
Positive
- Secured manufacturing partnership with major industry player SNDL
- Received initial purchase order for EU GMP-certified cannabis products
- Obtained UK import permits, enabling market access
- Two-year agreement term provides stable business outlook
- Targeting large markets: Germany (CAD $2B) and Australia (AUD $200M+)
VANCOUVER, British Columbia, Jan. 10, 2025 (GLOBE NEWSWIRE) — HYTN Innovations Inc. (CSE: HYTN, FSE: 85W0, OTC PINK: HYTNF) (“HYTN” or the “Company”), a pharmaceutical company specializing in pharmaceutical-grade cannabis manufacturing is pleased to announce the receipt of an initial purchase order under manufacturing and pricing agreements (the Agreements) with SNDL Inc. (NASDAQ: SNDL) (“SNDL“), one of the world’s largest vertically integrated cannabis companies. This collaboration underscores the Company’s commitment to expanding its presence in regulated international markets, including the UK, Germany, and Australia.
Under the executed agreements, HYTN will utilize EU Good Manufacturing Practice (EU GMP) to process both bulk and finished cannabis products for SNDL. HYTN’s ability to meet stringent international requirements, combined with SNDL’s cannabis expertise, positions both companies to rapidly scale operations and introduce high-quality products to key international markets.
“This partnership underscores our commitment to delivering exceptional cannabis products in regulated international markets,” said Elliot McKerr, CEO of HYTN. “With SNDL’s robust market presence and HYTN’s advanced manufacturing standards, we are poised to make a significant impact on the global cannabis industry.”
The progress of the partnership is highlighted by the receipt of HYTN’s initial purchase order from SNDL for EU GMP-certified dried cannabis flower, featuring multiple cultivars for export to the UK. Processing of the initial order is expected to be completed by February 2025. Jason Broome, COO of HYTN, emphasized the importance of this milestone, stating, “This order highlights HYTN’s capacity for high-volume, EU GMP-certified cannabis production, ensuring our partners, like SNDL, have the infrastructure needed to expand into global markets. We’re excited to collaborate on this opportunity and demonstrate our operational expertise.”
This collaboration positions the Company to capitalize on the expanding global cannabis market, including Germany’s medical cannabis industry, valued at an estimated CAD $2 billion1, and Australia’s rapidly growing market, which surpassed AUD $200 million in 20222, underscoring the opportunities ahead.
The initial purchase order is anticipated to ship in Q1 2025, import permits from the UK’s Home Office were received on Jan 6th. The broader agreements, which were signed in August 2024 and have a term of two years, establish the operational framework for a partnership supporting HYTN’s processing of SNDL cannabis products destined for international markets.
[1] J. Green, International Cannabis Business Conference (July 8, 2024), “Germany’s Medical Cannabis Industry Is Booming.”
[2] J. Ryan, Pennington Institute (December 2023), “Cannabis in Australia.”
About HYTN Innovations Inc.
HYTN Innovations Inc. is a pharmaceutical company that specializes in the formulation, manufacturing, marketing, and sale of products containing psychoactive and psychotropic compounds, including cannabis-derived cannabinoids and psilocybe-derived tryptamines. HYTN is dedicated to becoming a premier provider of these products across all federally regulated markets. The Company accomplishes this by strategically identifying market opportunities and effectively bringing innovative products to market through its advanced development platform.
About SNDL Inc.
SNDL is a public company whose shares are traded on the Nasdaq under the symbol “SNDL.” SNDL is the largest private-sector liquor and cannabis retailer in Canada with retail banners that include Ace Liquor, Wine and Beyond, Liquor Depot, Value Buds, Spiritleaf, and Superette. SNDL is a licensed cannabis producer and one of the largest vertically integrated cannabis companies in Canada specializing in low-cost biomass sourcing, indoor cultivation, product innovation, low-cost manufacturing facilities, and a cannabis brand portfolio that includes Pearls by Grön, No Future, Bhang Chocolate, Top Leaf, Contraband, Citizen Stash, Sundial Cannabis, Palmetto, Spiritleaf Selects, Bon Jak, Versus, Value Buds, Namaste, Re-up, Grasslands and Vacay. SNDL’s investment portfolio seeks to deploy strategic capital through direct and indirect investments and partnerships throughout the North American cannabis industry. For more information on SNDL, please go to https://sndl.com/.
About Good Manufacturing Practices (GMP)
GMP guidelines provide guidance for manufacturing, testing, and quality assurance to ensure that a manufactured product is safe for human consumption or use. Many countries have legislated that manufacturers follow GMP procedures and create their own GMP guidelines that correspond with their legislation.
For more information contact:
Elliot McKerr
Chief Executive Officer
1.866.590.9289
HYTN Investor Relations:
1.866.590.9289
investments@hytn.life
The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release.
Certain information contained herein may constitute forward-looking information that involve risks and uncertainties. Readers are cautioned not to place undue reliance on forward-looking statements, including, but not limited to, statements regarding the receipt of additional purchase orders, the Company’s ability to fulfill the same, and the Company’s expanded abilities to export its products globally, and to successfully collaborate with SNDL. Factors that could cause actual results to vary from forward-looking statements or may affect the operations, performance, development, and results of the Company’s business include, among other things: the Company’s inability to fulfill purchase orders; the Company’s inability to maintain relationships with key partners; the Company’s failure to generate sufficient cash flow from operations to meet its current and future obligations; the Company’s failure to access sources of debt and equity capital; changes to the regulatory framework within which the Company operates; competitive factors, pricing pressures, and supply and demand in the Company’s industry; and general economic and business conditions. Any statements that are not statements of historical fact are deemed to be forward-looking statements. The forward-looking statements contained in this news release are made as of the date of this news release, and, except to the extent required by applicable law, the Company assumes no obligation to update or revise forward-looking statements made herein or otherwise, whether because of new information, future events, or otherwise. The forward-looking statements contained in this news release are expressly qualified by this cautionary note.
FAQ
What is the value of HYTN’s initial purchase order from SNDL?
The specific value of the initial purchase order was not disclosed in the announcement.
When will HYTN (HYTNF) complete processing the initial SNDL order?
Processing of the initial order is expected to be completed by February 2025.
What markets will HYTN and SNDL target through their partnership?
The partnership targets regulated international markets including the UK, Germany, and Australia.
How long is the manufacturing agreement between HYTN and SNDL?
The agreements were signed in August 2024 and have a term of two years.
When did HYTN receive UK import permits for the SNDL order?
HYTN received import permits from the UK’s Home Office on January 6th, 2025.
What is the size of the target markets for HYTN’s products?
Germany’s medical cannabis market is valued at CAD $2 billion, while Australia’s market exceeded AUD $200 million in 2022.
