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Ascent Industries updates on Health Canada licences; bolsters quality assurance team

In Canada, Ascent, via Agrima is a licenced producer with licences to cultivate cannabis and produce cannabis extracts

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Agrima is a producer with licences to cultivate cannabis and produce cannabis extracts

Ascent Industries Corp (CSE:ASNT) updated on previous news that subsidiary Agrima Botanicals had its licences partially suspended by Health Canada.

In Canada, Ascent, via Agrima is a licenced producer with licences to cultivate cannabis and produce cannabis extracts, as well as being a licensed dealer.

READ: Ascent Industries and Harvest One Cannabis hail Canada's regulatory milestone as recreational pot becomes legal

Today (Thursday) Ascent said: "The company has made formal submissions to Health Canada for the reinstatement of the Agrima licences and has been informed by Health Canada that the Company's submissions are under review.

"However, Health Canada has not indicated when the review will be completed."

Health Canada had said that Agrima had not met all of its record keeping and other compliance requirements during a Health Canada inspection conducted between August 28 and August 30.

Ascent said it had been working diligently to enhance its record-keeping controls and procedures and other compliance activities at the Agrima facility.

In particular, it has added three highly experienced managers to its quality assurance and regulatory compliance team, it said.

They are John Sweeney - vice president of operations at Ascent, John Catliff - operations manager at - Agrima Botanicals and Kamaljit Singh, the quality assurance manager at Agrima Botanicals.

Ascent shares added 1.56% to $0.65 on the day.

Quick facts: Ascent Industries Corp.

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CSE:ASNT
Market: CSE
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