YORK, England, April 8, 2020 /PRNewswire/ -- Natures Crops International has entered into an exclusive global licensing agreement with Auxly Cannabis Group Inc. (TSX.V - XLY) of Canada ("Auxly") for Ahiflower® oil, all of which will be grown under contract by a group of leading UK farmers. Auxly will purchase the exclusive global rights to Ahiflower oil for use in cannabis products to be developed by Auxly. This multi-year deal will provide Auxly with a proprietary ingredient for use in the development of next generation cannabis health products. Natures Crops, based in York, UK specialises in growing and processing plant-derived specialty oils and produces Ahiflower® oil, the most complete and balanced plant source of essential omega fatty acids.
Ahiflower is a non-GMO oilseed crop grown exclusively by Nature's Crops under long-term contracts with specially trained and supported independent farmers across the UK who are part of the Ahiflower Growers Club. "Our elite farmers do an exceptional job, having improved Ahiflower seed yields by over 500% in just the past few years. This enables Ahiflower oil to compete with any other plant-based omega oilseed crop and joins UK-grown Ahiflower oil with a major consumer trend in CBD products globally," said Simon Meakin, Nature's Crops' UK Agronomy and Operations Manager.
After harvesting the Ahiflower seeds, they are cold pressed in the UK to produce a crude oil that is exported to Canada where it is further refined into Ahiflower oil at the Nature's Crops facility in Kensington, PEI. Ahiflower is a sustainable and traceable vegan polyunsaturated omega 3-6-9 oil, providing an ecologically-sound alternative to fish oils – each acre of Ahiflower produces as much omega-rich oil as 320,000 anchovies. Ahiflower oil contains more combined omegas than other natural plant or seed oils and contains a combination of the elements found in fish oil, evening primrose oil, olive, and flax seed oils. "Consumers seeking the utmost in excellence, freshness and traceability in Canadian science-backed cannabis solutions will find Auxly's products compelling," said Greg Cumberford, VP Science & Regulatory, Natures Crops.
Hemp-derived cannabidiol (CBD) products are sold legally in the UK as non-medical novel food products so long as they contain no psychoactive THC and make no health claims related to CBD content. The UK-based Centre for Medicinal Cannabis (CMC) in a June 2019 report found the UK market for CBD-containing products consists of 1.3 million users and £300m per year, which is a larger turnover than vitamin D and vitamin C combined, and is growing at double digit rates. They project £1b in UK sales by 2025, which would eclipse the entire UK herbal supplement category. Further, CMC found that 70% of UK consumers are purchasing tinctures/oils or capsules in order to achieve higher daily CBD intakes (vs food formats) to support their overall wellness. Yet, unfortunately, they found that 38% of the CBD products on the UK market fail to meet at least 90% of label-claimed CBD levels and another 38% percent failed to meet at least 50% potency levels. Further, nearly 25% of CBD products tested had violative extraction solvents detected above UK food safety limits.
The Auxly-Natures Crops supply agreement places UK-grown Ahiflower into a leading role as a novel carrier oil in scientifically validated cannabis products targeting general wellness that will assure traceability, purity and potency per hemp/CBD label claims, a concern that CMC cited. For more information please write to: email@example.com
About Natures Crops International
A manufacturer of specialty oils for dietary supplements, nutraceuticals, food, and personal care products, Natures Crops produces oils from the highest quality crops, produced by growers who follow strict management protocols for sustainability and identity preservation. Natures Crops ensures the crops produced are grown, processed, packaged, and delivered in a safe, sustainable, traceable, and cost-competitive manner. The company has operations in Prince Edward Island, Canada and the United Kingdom, with headquarters in North Carolina. Natures Crops is a member of the Council for Responsible Nutrition (CRN). For more information please write to firstname.lastname@example.org
SOURCE Natures Crops International