(TheNewswire)
TORONTO, ONTARIO - TheNewswire- November 19, 2020 - MPX International Corporation (" MPXInternational ", " MPXI " or the " Corporation ") (CSE:MPXI ) ; (CNSX:MPXI.CN); ( OTC:MPXOF), amultinational diversified cannabis company, ispleased to announce that its wholly-owned subsidiary, Canveda Inc. (" Canveda "), alicence holder under the Cannabis Act (Canada), has completed
its first delivery of cannabis flower pursuant to itsproduction and distribution agreement with Panaxia PharmaceuticalIndustries Israel Ltd. (" Panaxia "), the largest manufacturer anddistributor of medical cannabis products in Israel, for the packagingand distribution of cannabis which will be marketed and sold in Israelunder Canveda's medical brand "Salus BioPharma".
"MPXI has a long-standing relationship withPanaxia and welcomes the opportunity to market our brand in Israel aspart of our international cannabis strategy," noted W. ScottBoyes, Chairman, President and CEO of MPX International. "Panaxiais a major player in the Israeli market and an emerging participant inthe global cannabis space and we are honored to be able to work withthe Panaxia team on this and potentially other projects."
A first shipment of 100 kg of high-quality cannabisflower was shipped from Canada to Israel on November 15 th afterreceiving an export permit from Health Canada.
Panaxia uses high-quality cannabis flower tomanufacture and distribute a variety of standardized, pharma-grade,smokeless, measured dosage cannabinoid-based products includingsublingual tablets, slow release tablets, pastilles, rectalsuppositories, vaginal suppositories, skincare ointments, topicalpatches and oral spray inhalers.
The Salus BioPharma products will be sold to patientswith a variety of conditions such as PTSD, chronic pain, cancer,epilepsy, Parkinson's, Alzheimer's, anorexia and HIV/AIDS.
"We are proud to be collaborating on this projectwith our Canadian partners, MPX International Corporation and expandour cooperation in Israel and potentially other international markets.As an experienced pharmaceutical company and the largest manufacturerand distributor of medical cannabis products in Israel, we arecommitted to providing premium, standardized, andscientifically-backed pharmaceutical cannabis products to our partnersand patients worldwide. MPXI leads the pharmaceutical approach tomedical cannabis in Canada, which makes them a natural partner fordistribution of high-quality pharmaceutical cannabis products inIsrael," said Assi Rotbart, GM of Panaxia.
"We have delivered our initial 100 kg of bulkhigh-quality Sativa and Indica cannabis strains as an initial forayinto the Israeli market. Panaxia will be responsible for qualitycontrol, packaging and distribution of Salus BioPharma products inIsrael," said Michael Arnkvarn, COO, Canada of MPXI. "TheSalus BioPharma brand is our premier medical brand and we are excitedto commence international distribution of our Salus BioPharma productswith Panaxia in Israel. Following this initial foray into the international cannabismarket, we areworking to expand distribution of the Salus BioPharma Brand toadditional international markets . We are now inthe process of securing import and export permits for an additional200kg shipment in January of 2021"
About MPX InternationalCorporation
MPX International Corporation is a multinational diversified cannabis company focused on developing and operating assets across theinternational cannabis industry with an emphasis on cultivating,manufacturing and marketing products which include cannabinoids astheir primary active ingredient. With current operations spanning fourcontinents in Canada, Switzerland, South Africa, Malta and Australia as well as evolving partnership anddistribution opportunities in other jurisdictions, MPXI continues toposition itself as an emergent global participant in the cannabisindustry.
About Panaxia PharmaceuticalIndustries Israel
Panaxia Labs Israel, Ltd. is a publicly traded company ( TASE: PNAX.TA ). Itis the largest Israeli manufacturer and home-delivery distributor ofmedical cannabis products, and the first to have received the approvalof the Israeli Ministry of Health for the manufacturing of medicinalcannabis-based pharmaceuticals (under the IMC-GMP directive) as wellas EU-GMP standard certification required for commercial productionand export of medical cannabis and its products to Europe. The companymanufactures over 30 hemp-based medicinal products and has accumulateda broad foundation of clinical experience based on tens of thousandsof patients.
Panaxia is a subsidiary of the Segal Pharma Group,owned by the Segal family and founded over forty years ago. Thecompany manufactures over 600 different pharmaceutical products thatare distributed in over 40 countries worldwide. Panaxia Labs Israel isa subsidiary of Panaxia Pharmaceutical Industries, co-founded by Dr. Dadi Segal , Dr. EranGoldberg , and Adv. Assi Rotbart asthe cannabis division of the Segal Pharma Group. A sister subsidiary,Panaxia US, manufactures in North America over 60 hemp-based medicinalproducts, including sublingual tablets, lozenges, oils, and inhalatorsdesigned for treating conditions such as PTSD, cancer, chronic pain,epilepsy, anorexia, burns, and many other ailments. Panaxia Group hasover 150 employees, who also conduct all of its clinicaltrials.
Cautionary Statement RegardingForward-Looking Information
This news release includes certain"forward-looking statements" under applicable Canadiansecurities legislation that are not historical facts. Forward-lookingstatements involve risks, uncertainties, and other factors that couldcause actual results, performance, prospects, and opportunities todiffer materially from those expressed or implied by suchforward-looking statements. Forward-looking statements in this newsrelease include, but are not limited to, MPX International'sobjectives and intentions. Forward-looking statements are necessarilybased on a number of estimates and assumptions that, while consideredreasonable, are subject to known and unknown risks, uncertainties andother factors which may cause actual results and future events todiffer materially from those expressed or implied by suchforward-looking statements. Such factors include, but are not limitedto: general business, economic and social uncertainties; litigation,legislative, environmental and other judicial, regulatory, politicaland competitive developments; delay or failure to receive board,shareholder or regulatory approvals; those additional risks set out inMPX International's public documents filed on SEDAR at www.sedar.com , including its audited annualconsolidated financial statements for the financial years endedSeptember 30, 2019 and 2018 and the corresponding annual management'sdiscussion and analysis; and other matters discussed in this newsrelease. Although MPX International believes that the assumptions andfactors used in preparing the forward-looking statements arereasonable, undue reliance should not be placed on these statements,which only apply as of the date of this news release, and no assurancecan be given that such events will occur in the disclosed time framesor at all. Except where required by law, MPX International disclaimsany intention or obligation to update or revise any forward-lookingstatement, whether as a result of new information, future events, orotherwise.
For further information, pleasecontact:
MPX International Corporation
W. Scott Boyes, Chairman, President andCEO
T: +1-416-840-4703
info@mpxinternationalcorp.com
http://mpxi.tv
For additional information on MPXI visitour website www.mpxinternationalcorp.com or http://mpxi.tv .
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