About The CanAscen Group
The CanAscen Group Inc. Is a federally incorporated Canadian company based in Vancouver, British Columbia. In 2017, CAG was formed as a spin out of the U.S. biotechnology company, Teewinot Life Sciences Corporation (“TLS” or “Teewinot”), with a focused strategy on Canadian investments in the cannabis and hemp wellness sectors. Upon incorporation, CAG acquired a 100% interest in a wholly owned subsidiary, New Life Botanicals Inc. (“NLB”). Located on 40 acres in Saint Anne, Manitoba, NLB is currently at the confirmation of readiness stage with Health Canada, a step needed to become an ACMPR Licensed Producer. An ACMPR is an Authorized Licensed Producer of Cannabis for Medical Purposes; only producers who are authorized to produce and sell to the public may sell or provide dried marijuana, fresh marijuana, cannabis oil, or starting materials to eligible persons.
CanAscen’s business concept is to be a differentiated leader in the premium segment of the cannabinoid market. CAG will achieve this through technological partnerships with established and successful producers of a variety of cannabinoid products.
These partnerships will provide CAG with unique expertise and leadership, brand identification and management, a proprietary grow platform, and exclusive genetics and production processes. These advantages will allow CAG to produce and market premium quality high margin specialty cannabis extracts and derivatives. Additionally, CAG, by building on the technical advances of its partners, will be able to supply products to the rapidly expanding therapeutics market thus being insulated from swings in demand and price of the commodity recreational market.
CAG has two divisions: Cultivation Division and Extraction Division. The Cultivation Division will, following receipt of its Health Canada certificate as an ACMPR producer, grow marijuana plants in the purpose-built facilities now under construction. In March 2018, CAG received funding commitments totaling CAD $13 million from Tuatara Capital L.P., a sector focused fund located in New York, NY. The focus is the production of flowers using premium seeds to create high Cannabinoid and Terpene content that will be sold to end consumers using direct shipping mediums.