SYDNEY, AUSTRALIA: Sequoya Cannabis Limited’s Polish subsidiary, Sequoya Europe, has received EU GMP Certification for its newly completed European Centre of Extraction and CBD Production, announced MMJ Group Holdings Limited, an Australian-listed company that specialises in managing a portfolio of investments along the cannabis value-chain.
Sequoya’s has achieved its first step to become a significant GMP-certified hemp CBD supplier, with longer term plans to expand into the legal medical marijuana market across Europe. Sequoya’s recently completed cannabis extraction operations are located in Krakow, Poland, with plans to become a leading supplier of CBD extracts and isolate within the European Union (EU).
Sequoya’s facility, completed in January 2020 is the most modern facility in Europe, utilizing Canadian CO2 clean extraction machines and top end Swiss Laboratory Instruments for product purification, formulation and volume production.
As an end-to-end EU GMP Certified facility, it includes a modern, fully equipped Analysis & Quality Control Area, staffed with Sr. R&D and Quality Specialists ensuring tight control over producing consistent and highest quality results.
Sequoya is now partnering with some of the world’s biggest consumer brands as their CBD supplier. With little regulatory hurdles around CBD in Europe, Sequoya is receiving tremendous interest from consumer goods manufacturers.
MMJ’s investment consists of a CAD 2.5 million convertible note issued and a 24% ordinary shareholding in Sequoya. MMJ has also secured the rights to make further investments in Sequoya through warrants that allow MMJ to acquire further shares following conversion of the debenture for a period of 2 years following the date of issue, and an option to invest up to a further CAD 2.5 million to finance the next stage of Sequoya’s business plan.