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Vida Cannabis Corp. : Appoints Pritesh Kumar Chief Cannabinoid Research Scientist and Quality Assurance Officer of Vida Cannabis (Canada) Ltd.


April 30, 2014 - London

Vida Cannabis Corp. Appoints Pritesh Kumar Chief Cannabinoid Research Scientist and Quality Assurance Officer of Vida Cannabis (Canada) Ltd.

Toronto, Ontario - April 30, 2014 - Vida Cannabis Corp. ("Vida Cannabis") is pleased to announce the appointment of Pritesh Kumar as the Company's Chief Cannabinoid Research Scientist as well as Quality Assurance Manager of its wholly owned subsidiary, Vida Cannabis (Canada) Ltd. ("Vida Canada").

Pritesh Kumar, M.S. Pharmacology, is a cannabinoid research scientist and consultant trained in ensuring Quality Assurance/Quality Control (QA/QC), current Good Manufacturing Practices (cGMP), current Good Production Practices (GPP) and current Good Laboratory Practices (cGLP) of pharmaceutical products and Active Pharmaceutical Ingredients (APIs). As Cannabinoid Pharmacologist and Laboratory Manager since 2009, Pritesh has conducted medical cannabinoid research as it pertains to the cannabinoid receptor 2 (CB2), pharmacological testing of FDA approved drugs as potential ligands for CB2, investigated the pharmacology of cannabidiol (CBD) for CB2 and been responsible for all aspects of managing the laboratory as well as QA as it pertains to sampling, handling and testing of cannabinoid drugs. Previously, Mr. Kumar served as a Research Assistant with the Department of Nutritional Biochemistry at the University of Kentucky and Quality Control Analyst for Heartland Sweeteners & Lexington Pharmaceuticals.

Mr. Kumar is skilled in medical pharmacology, HPLC and GC/MS, especially as applied to Marihuana for Medical Purposes Regulations (MMPR), HIPAA, PHIA, FDA regulations, ISO standards (ISO 17025, ISO 15189 and ISO 9001) and cannabis policy development and legislative documentation. His areas of specialty include QA of cannabinoids, nutritional biochemistry, molecular biology, pharmaceuticals and purification.

He has extensive experience preparing documentation pertaining to medical marijuana license acquisition in both Canada and the United States and advises clients on issues regarding proper laboratory equipment for cannabis testing, pharmacology of cannabis-based therapeutics and maintaining a QA system to ensure compliance. He is also the Scientific Adviser to Kentucky Senator Perry Clark and advises on issues regarding the development of effective medical cannabis policies and preparation/ implementation of legislative bills to ensure the implementation of a proper QA system.

Pritesh Kumar's award-winning study, which he presented at the International Cannabinoid Research Society in 2013 in Vancouver, focused on the identification of raloxifene as a novel CB2 inverse agonist. His current research focuses on the integration of computer modeling and pharmacological testing of components to identify novel leads for the G protein-coupled cannabinoid receptors CB1 and CB2, which have been shown to regulate a broad spectrum of physiological conditions from regulating appetite to pain.

Pritesh Kumar received a Master's of Science in Pharmacology, Cannabinoid Concentration, from the University of Louisville in 2011 and is currently completing a Ph.D. in Pharmacology, Cannabinoid Concentration, expected in 2014. He earned a Bachelor's of Science in Biology from the University of Kentucky.He is a Fellow with the National Institute of Environmental Health Sciences and has received honors and awards including Best Oral Presentation from the International Cannabinoid Research Society (ICRS) Conference in Vancouver and fellowships from Drug Discovery and Target in Boston and Integrated Programs in Biomedical Sciences (IPIBS) as well as travel awards from the National Institute on Drug Abuse and University of Louisville School of Medicine for his presentations in Vancouver, Freiburg, Pennsylvania and Illinois. 

Mr. Kumar has been published in numerous scientific journals including the European Journal of Pharmacology, Pharmacology and Physiology, Journal of Medicinal Chemistry, Investigative Ophthalmology & Visual Science and Biochemical and Biophysical Research Communications.He is an active member of the International Association for Cannabis as Medicine (IACM), National Cannabis Industry Association (NCIA) and Liaison Committee on Medical Education (LCME) of the University of Louisville School of Medicine. In addition, Mr. Kumar is a member of the International Cannabinoid Research Society (ICRS), American Society of Cell Biology (ASCB) and National Glaucoma Society (NGS) and was a member of the University of Louisville's Technology Sub-committee.

Vida Cannabis CEO Greg Wilson stated: "I am delighted to welcome Pritesh Kumar to the Vida team. His research focus on cannabinoid pharmacology and experience managing laboratories combined with his extensive quality control skill set result in an ideal match for Vida's needs. We are particularly excited to have Pritesh oversee, on behalf of Vida Cannabis, the development of customized strains of medical marijuana to meet our customers' health needs including, we expect, proprietary Vida Cannabis strains. And because of his extensive familiarity with the relatively new MMPR, he has contributed valuable insight in the final steps of our licensing application process and is ideally suited to participate in a strong, ongoing relationship between Vida Canada and Health Canada."

About Vida Cannabis Corp.

Vida Cannabis Corp. ("Vida Cannabis") is focused on developing a dominant production footprint in the rapidly developing global marketplace for the legal use of medicinal and recreational marijuana.

Initial operations are focused on the Canadian market where Health Canada has established national guidelines enabling best-in-class producers to acquire commercial production licenses under the Marihuana for Medical Purposes Regulations.

Via its wholly owned subsidiary, Vida Cannabis (Canada) Ltd., Vida Cannabis purchased a 315,000-square-foot production facility in the town of Stellarton, NS and secured a 50-year irrevocable approval unanimously from the local municipality to operate a medical marijuana production plant at the facility.

The highly secure facility boasts a fully engineered concrete floor, 18-foot-high concrete walls and a steel roof making it an ideal location for the construction of a customized, state-of-the-art modern medical marijuana production plant.

Vida Cannabis is working with one of the most talented cannabis consulting teams in the world, Quantum 9 Inc., which has extensive resources in the United States, Canada and Europe, to establish an optimized end-to-end production plan to help position Vida Cannabis with the largest, most advanced medical marijuana facility in Canada.

Vida Cannabis continues to evaluate additional potential markets as regulatory bodies around the world pass legislation enabling the production and distribution of medicinal or recreational marijuana.

On behalf of the board,

Greg Wilson - Chairman & CEO

Vida Cannabis Corp.

Investor Services

Toll free +1 800 593 1585

Direct: +1 647 560 4482

Email: InvestorServices@VidaCannabis.com

Web: VidaCannabis.com

Disclaimer

This announcement does not constitute or form part of, and shall under no circumstances be considered as, an offer to sell, a solicitation to purchase, or advice on investments in any securities of Vida Cannabis Corp. ("Vida Cannabis"). Offers and solicitations shall be expressly identified as such and made in compliance with applicable securities laws. This announcement is for information purposes only. It should not be relied upon as a basis for investment decisions. You should consult with your own investment, accounting, legal and tax advisers to evaluate independently the risks, consequences and suitability of any investments you are considering. Whilst the information provided here is believed to be reliable, it cannot be guaranteed. It may contain forward-looking statements made by or on behalf of Vida Cannabis about its business or financial objectives, position, strategies or expectations. Such forward-looking statements may be identified by words such as, or similar to, "intends," "anticipates," "believes," "expects" and "hopes" and includes, without limitation, the development of production facilities, approval from regulatory authorities and the ability for Vida Cannabis to obtain adequate financing to meet its business objectives. These statements involve inherent risks and uncertainties that could cause actual results to differ materially from those indicated. The statements in this announcement do not guarantee future performance. Vida Cannabis does not undertake any obligation to update any information provided in this announcement. In Canada, Vida Cannabis (Canada) Ltd., a wholly owned subsidiary of Vida Cannabis, must obtain approval from Health Canada in order to operate as a licensed commercial producer under the Marihuana for Medical Purposes Regulations. Vida Cannabis makes no representations or warranties that it will receive Health Canada approval.




This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Vida Cannabis Corp. via Globenewswire

HUG#1781751

GlobeNewswire

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