VANCOUVER, British Columbia, Feb. 20, 2024 (GLOBE NEWSWIRE) — HYTN Innovations Inc. (CSE: HYTN “HYTN or The Company“), a leader in the cannabis sector known for specialized psychoactive and psychotropic product development, is excited to announce the expansion of its 100 mg Nano Shot Citrus (“Nano Shot”) to the key markets of British Columbia and Alberta. Following its initial success in Ontario, Canada’s largest market, this move represents a significant stride in the company’s national distribution goals.
“The enthusiasm from the western provinces for Nano Shot has been remarkable,” stated HYTN Chief Executive Officer, Elliot McKerr. “Introducing our distinctive Nano Shot product line to these vibrant markets highlights HYTN’s dedication to innovation and quality. We are committed to fulfilling the changing needs of our customers and are confident that this novel product will successfully meet a gap in the market, providing a significant opportunity to increase domestic sales.
Nano Shot represents a unique contribution to the vibrant Canadian cannabis market. Leveraging HYTN’s proprietary Elevation Technology, the ingestible extract ensures a swift and reliable onset of effects. Each Nano Shot bottle delivers 100 mg of nano-emulsified THC in accurate 0.05 mL increments, allowing users to precisely customize their consumption experience. Its citrus flavour complements an existing assortment of edibles, broadening its appeal across various consumer preferences.
Jason Broome, Chief Operating Officer of HYTN, highlighted the significance of Nano Shot amidst the regulatory challenges in the industry: “The ongoing issue of ingestible THC extracts being removed from the market for not meeting Health Canada’s standards accentuates the timeliness and necessity of Nano Shot’s expansion.” He continued, “Not only does Nano Shot serve the recreational sector in Canada, but its enhanced bioavailability, predictable effects, accurate dosing, and stringent production process also position it as a potential frontrunner in the global medical cannabis market, showcasing HYTN’s commitment to pioneering in product development.”
The introduction of Nano Shot across key markets in Western Canada represents a landmark achievement for HYTN, reinforcing its reputation as a pioneer of innovative products within the highly regulated cannabis industry.
About HYTN Innovations Inc.:
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 Elevation Technology®:
HYTN’s proprietary Elevation Technology® has been developed for the production of clear, odorless, and taste-neutral emulsions. This technology combines high-quality lipophilic active ingredients with a scientifically-formulated mixture of surfactants, co-surfactants, and carrier oils. The process results in the formation of nano-sized droplets that are thermodynamically and kinetically stable and optimizes both absorption and bioavailability. Elevation Technology® provides consistent, rapid and reliable effects that meet the stringent expectations of the consumer market.
For more information, please visit www.hytn.ca or contact:
Elliot McKerr
Chief Executive Officer
1.866.590.9289
HYTN Investor Relations
1.866.590.9289
[email protected]
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 launch of Nano Shot into western markets; (ii) the opportunity to capture domestic revenue; (iii) the product offering being distinctive; (iv) the product lending themselves to international markets. 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.
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