What’s Going on with Sproutly Canada?
Today, May 7, Sproutly Canada (SRUTF) announced in a company press release that it has filed an NNCP, or Notice of New Cannabis Product, with Health Canada. The notification is in relation to the firm’s newest cannabis-infused beverages, which rely upon cannabis extracts created with the company's APP Technology. Sproutly Canada shares closed down 3.45% yesterday (May 6) at $0.0476 a share.
What Does This Mean for SRUTF?
Sproutly Canada is touting the advantages of using its APP (Aqueous Phytorecovery Process) technology — not to be confused with the “apps” you download — in delivering “a predictable and rapid onset and offset of true to strain cannabis experiences,” pointed out in today's press release. APP technology, according to Sproutly, is a better extraction method when compared to the cannabis effects delivered by distillates and terpenes.
“With the completion of our initial beverage formulations, we are making steady progress towards 2.0 products that utilize our APP technology. Our beverages will deliver a predictably fast onset and offset of natural experiences of Sativa, Indica, and Hybrid strains,” Sproutly CEO Dr. Sen explained, referring to the beverages included in the filed NNCP.
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Sproutly Canada Inc through its subsidiaries operates as a Technology company focused on discovering and commercializing science-based cannabis and hemp technologies. It provides water-soluble cannabis solutions and bio natural oils to the emerging beverage and consumables market. It operates in a single segment that is the sale of recreational cannabis.