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Phoenix Life Sciences International Receives Government Approval to Produce Botanical Pharmaceutical Products in South Pacific
DENVER, Oct. 10, 2018 (GLOBE NEWSWIRE) -- Phoenix Life Sciences International Limited (OTCMarkets: MJMD) (“Phoenix Life”), an international adaptive healthcare solutions company, today announced that the company has received approval from the Vanuatu Investment Promotion Authority (VIPA) to establish operations in the country and manufacture botanical pharmaceutical products.
The Republic of Vanuatu, an island chain in the South Pacific, is the target of the company’s first major production center. Phoenix Life is the first botanical researcher and producer to receive such approval in this nation. This significant milestone brings Phoenix Life closer to launching local clinical trials and production for its botanical pharmaceutical and nutritional products targeting the treatment of various indications.
“This is a major step for the company and our operations in Vanuatu,” said Chief Executive Officer of Phoenix Life Martin Tindall. “With this application approval, we can begin to establish the necessary resources required to initiate clinical trials and develop scalable production capacity for our botanical pharmaceutical medications and begin leading the global health initiative to end the diabetes epidemic.”
According to a new research study published by Global Market Insights, Inc., the U.S. medical marijuana market is poised to surpass $8 billion by 2024. According to the same study, that’s a 60% contrast to the $5 billion that the medical marijuana market was valued at in 2016.
Phoenix Life aims to improve overall international health while reducing the cost of providing medical services and treatments. The company plans to partner with the single-payer healthcare systems in established and emerging economies in order to bring botanical pharmaceuticals to market.
“In the coming weeks, we anticipate many more substantive business updates and announcements on how we are continuing our expansion and are creating change,” continued Tindall. “It’s very nice to have the support of this governing body and we look forward to the support of other government agencies in Vanuatu, and in other countries to follow.”
For more information about Phoenix Life, please visit https://www.plsi.co/.
About Phoenix Life Sciences International Limited
Phoenix Life Sciences International Limited (OTCMarkets: MJMD) is an adaptive healthcare solutions company. Our business is to advance research and integrate programs and manufacturing of products that target and treat diabetes, pain, cancer, and address psychological, gastrointestinal, autoimmune, neurological and sleep disorders. We strive to create partnerships and integrate these programs for human health into communities worldwide as part of our Global Health Initiative.
Information contained in this press release regarding Phoenix Life Sciences International, Limited and its subsidiaries, (the “Companies”) may constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements. The words “plan”, “forecast”, “anticipates”, “estimate”, “project”, “intend”, “expect”, “should”, “believe,” and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve, and are subject to, known and unknown risks, uncertainties and other factors which could cause the Company’s actual results, performance (financial or operating) or achievements to differ from the future results, performance (financial or operating) or achievements expressed or implied by such forward-looking statements. The risks, uncertainties and other factors are more fully discussed in the Company’s filings with the U.S. Securities and Exchange Commission. All forward-looking statements attributable to the Companies herein are expressly qualified in their entirety by the above-mentioned cautionary statement. The Companies disclaim any obligation to update forward-looking statements contained in this press release, except as may be required by law.
FOOD AND DRUG ADMINISTRATION (FDA) DISCLOSURE
These statements have not been evaluated by the FDA and therefore the products sold by Phoenix Life Sciences International are not available on U.S. markets.
Phoenix Life Sciences International does not sell or distribute any products in the United States that are in violation of the United States Controlled Substances Act (US.CSA). This company does not grow, sell, and distribute cannabis-based products in the United States and is solely involved with the legal distribution of medical cannabis products within certain international markets outside of the United States.
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