The successful GMP audit, in coordination with
The GMP audit conducted by the TGA was performed in accordance with the standards of the
"We're pleased to announce this important milestone," said
While HYTN continues to prioritize domestic recreational products, such as its popular 10mg THC Sparkling Beverages and 100mg Nano Shot Citrus, obtaining a GMP license will expand the company's commercial opportunities.
About
HYTN formulates, manufactures, markets, and sells premium products containing psychoactive and psychotropic compounds, including cannabis-derived cannabinoids. HYTN's mission is to become the top provider of these products in all federally regulated markets. To achieve this, the company focuses on identifying market opportunities and quickly bringing its innovative products to market through its elevated development platform.
About Good Manufacturing Practices (GMP)
Good Manufacturing Practices (GMP) guidelines are established to ensure safe manufacturing, testing, and quality assurance of products intended for human consumption or use. Many countries mandate GMP adherence and have developed their own corresponding guidelines.
About
The Pharmaceutical Inspection Co-operation Scheme (PIC/S) is a global initiative aimed at standardizing Good Manufacturing Practices (GMP) across its 56 member countries, thereby facilitating international trade in pharmaceuticals. Established to ensure the quality and safety of medicines for human and veterinary use, PIC/S promotes harmonized GMP standards and mutual recognition of inspection results among regulatory authorities, streamlining the approval process for pharmaceutical manufacturers.
For more information contact:
Chief Executive Officer
1.866.590.9289
HYTN Investor Relations
1.866.590.9289
investments@hytn.life
The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release.
Certain information contained herein may constitute forward-looking statements that involve risks and uncertainties. Readers are cautioned not to place undue reliance on forward-looking statements including but not limited to statements regarding: (i) The Company's anticipation of receiving GMP certification; (ii) The potential for this achievement to enhance HYTN’s partnership with Promethean Biopharma; (iii) The opportunity for the company to collaborate with additional global firms as a result of the audit; (iv) The alignment of this milestone with the expansion of the global cannabis market; (v) The expectation of forging new partnerships due to expanded capabilities; (vi) The aim to elevate existing systems to meet GMP standards. Factors that could cause actual results to vary from forward-looking statements or may affect the operations, performance, development, and results of the Company’s business include, among other things: the Company's ability to generate sufficient cash flow from operations to meet its current and future obligations; the Company's ability to access sources of debt and equity capital; competitive factors, pricing pressures, and supply and demand in the Company’s industry; general economic and business conditions; and the effects and impacts of the COVID-19 pandemic, the extent and duration of which are uncertain at this time, on the Company's business and general economic and business conditions and markets. Any statements that are not statements of historical fact are deemed to be forward-looking statements. The forward-looking statements contained in this news release are made as of the date of this news release, and, except to the extent required by applicable law, the Company assumes no obligation to update or revise forward-looking statements made herein or otherwise, whether because of new information, future events, or otherwise. The forward-looking statements contained in this news release are expressly qualified by this cautionary note.
Source:
2024 GlobeNewswire, Inc., source