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Token Naturals rewarded Standard Processing Licence for cannabis from Health Canada

 

Token Naturals Ltd. (“Token Naturals“, “Token”) has announced that on April 9th Health Canada issued the company a Standard Processing licence. The privately-owned company is now fully licensed to extract and process cannabis at its central Edmonton manufacturing facility. Token Naturals plans to supply extract and derivative products in wholesale to licensed cannabis producers and direct to consumers through licensed cannabis retailers. Token’s facility was built as an efficient and adaptive processing space, designed with the goal to operate at industry-leading efficiencies and margins. The company intends to submit a Sales Licence application immediately to provide more robust services to their partners.

Token offers private label manufacturing of cannabis and is currently equipped to produce oils, tinctures, topicals, rosin, vapes and edibles. The company is now commercializing the formulations they have been conceptually developing for partners’ products and for Token’s own branded lines. Token is currently in talks with a licensed third party to utilize their sales amendment. This agreement would allow Token to sell their own and their partners’ products directly to distributors and retailers in order to get products to consumers more swiftly.

“We’re looking forward to a new wave of the cannabis industry, one that is more accessible to participate in, more transparent and more responsible in the long term. There is the space and the opportunity to do business differently than we saw in the early days of legalized cannabis,” says Keenan Pascal, founder and CEO of Token Naturals. “Many producers now need outside solutions for their cannabis manufacturing, whether that’s because they want to focus on growing great flower or they don’t have the space and capacity in-house. We’re providing customers with a wider range of product formats, and we are doing so with a diverse workforce and a different way of thinking about the industry: looking at the long term.”

Token is minority-led and majority owned by shareholders who identify as visible minorities and/or women. As the most centrally located cannabis facility in Edmonton, Token is also the closest licensed manufacturer to Alberta’s cannabis distribution board, AGLC.

The licence currently allows for manufacturing in the first phase of Token’s facility which occupies 8,300 square feet of the larger building. While concurrently manufacturing in their licensed phase one space, Token will develop an additional 13,500 square feet holding extraction, storage and laboratory spaces. Phase two, which is expected to be completed in early 2022, will hold a proprietary, continuous throughput cryo-ethanol extraction system that is fully process-engineered. This system has the power to collect a higher yield from biomass, which results in higher output, higher margins and less waste without compromising on quality and purity.

In addition to providing white-label manufacturing, Token plans to release their own consumer line of cannabis products. They are now preparing to enter the market with THC and CBD drink shots, complimenting the increasingly popular beverage additives space. The decision to enter both the B2B and B2C markets was an intentional exercise to provide the best possible service to manufacturing partners. By operating in both, Token can pass their experience bringing products to market on to their partner brands.

Token’s team brings unique experience and success in the consumer packaged goods space. The company also manufactures and distributes Token Bitters, a line of cocktail bitters sold across Canada and exported to Asia. Token Bitters is Alberta’s leading bitters brand and the company will rely on this key network and brand expertise to launch their cannabis products.

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