HYTN Secures Initial Purchase Order from SNDL, Fueling Global Expansion

VANCOUVER, British Columbia, Jan. 10, 2025 (GLOBE NEWSWIRE) -- HYTN Innovations Inc. (CSE: HYTN, FSE: 85W0, OTC PINK: HYTNF) ("HYTN" or the "Company"), a pharmaceutical company specializing in pharmaceutical-grade cannabis manufacturing, is pleased to announce the receipt of an initial purchase order under manufacturing and pricing agreements (the "Agreements") with SNDL Inc. (NASDAQ: SNDL) ("SNDL"), one of the world's largest vertically integrated cannabis companies. This collaboration underscores HYTN's commitment to expanding its presence in regulated international markets, including the UK, Germany, and Australia.

Under the executed agreements, HYTN will utilize EU Good Manufacturing Practice (EU GMP) to process both bulk and finished cannabis products for SNDL. HYTN's ability to meet stringent international requirements, combined with SNDL's cannabis expertise, positions both companies to rapidly scale operations and introduce high-quality products to key international markets.

"This partnership underscores our commitment to delivering exceptional cannabis products in regulated international markets," said Elliot McKerr, CEO of HYTN. "With SNDL's robust market presence and HYTN's advanced manufacturing standards, we are poised to make a significant impact on the global cannabis industry."

The progress of the partnership is highlighted by the receipt of HYTN's initial purchase order from SNDL for EU GMP-certified dried cannabis flower, featuring multiple cultivars for export to the UK. Processing of the initial order is expected to be completed by February 2025. Jason Broome, COO of HYTN, emphasized the importance of this milestone, stating, "This order highlights HYTN's capacity for high-volume, EU GMP-certified cannabis production, ensuring our partners, like SNDL, have the infrastructure needed to expand into global markets. We're excited to collaborate on this opportunity and demonstrate our operational expertise."

This collaboration positions the Company to capitalize on the expanding global cannabis market, including Germany's medical cannabis industry, valued at an estimated CAD $2 billion, and Australia's rapidly growing market, which surpassed AUD $200 million in 2022, underscoring the opportunities ahead.

The initial purchase order is anticipated to ship in Q1 2025, with import permits from the UK's Home Office received on Jan 6th. The broader agreements, which were signed in August 2024 and have a term of two years, establish the operational framework for a partnership supporting HYTN's processing of SNDL cannabis products destined for international markets.

HYTN's EU GMP certification is a significant competitive advantage in international markets, ensuring that the company's products meet stringent regulatory requirements and maintain high-quality standards. This certification, combined with SNDL's market presence and expertise, enables HYTN to rapidly scale operations and introduce high-quality products to key international markets.

In conclusion, HYTN's partnership with SNDL is a strategic move that positions the company to capitalize on the expanding global cannabis market, particularly in Germany and Australia. With EU GMP certification and SNDL's market presence, HYTN is well-equipped to meet the stringent regulatory requirements and high-quality standards of these markets, driving growth and success in the global cannabis industry.