Vancouver, BC, March 7, 2019 – Orion Nutraceuticals Inc., (CSE: ORI) (the “Company” or “Orion”) is pleased to announce it has signed an LOI to acquire 25% of BioHemp Colombia (“BHC”) based in Bogota, Colombia. BHC and Orion will jointly develop projects related to research, cultivation, extraction, sale and distribution of seed genetics for hemp and cannabis.

Under the agreement, BHC will provide seed bank samples for 23 feminized hemp varieties, and 16 feminized tetrahydro cannabinoid (THC) varieties, to initiate research and development. Further, BHC will provide experts and a cultivation plan for each type of seed as well as supervision and labor for the cultivation of plants.

“We are excited to partner with BioHemp Colombia to create a nursery for the purpose of propagating a variety of hemp strains and feminized seeds,” said Jonathan Fiteni, CEO of Orion Nutraceuticals. “The global appetite for CBD-rich products is growing at a rapid pace. BioHemp Colombia is positioning itself to become a global leader of seed genetics for hemp and cannabis growers. Our partnership will focus on research and breeding of specific genetics with the goal of creating a proprietary line of athletic therapy products.”

Orion will fund BHC with $500,000 USD and cover 25% of the operating costs for the project. Both parties willprocure purchase order agreements to secure supply agreements for BHC.

About Orion Nutraceuticals Inc.
Orion Nutraceuticals Inc. aims to set a new standard in cannabis life science by producing and developing innovative products with key strategic partners in the industry. In conjunction with its professional sports strategic alliances, the company is poised to advance research and development in the plant science sector, deliver science-based products and services, and market CBD therapies to the mainstream with proprietary brands and products. Orion shares trade in Canada on the CSE under the symbol ORI.

ON BEHALF OF THE BOARD

Jonathan Fiteni, CEO
Orion Nutraceuticals Inc.
www.orionnutra.ca

Investor Relations
1.604.313.2768
investors@orionnutra.ca

 

This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The company disclaims any intention or obligation to revise or update such statements. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company’s Management’s Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on www.sedar.com.

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