VANCOUVER, British Columbia, June 19, 2018 (GLOBE NEWSWIRE) -- Original Breeders League (“OBL”) has signed a letter of intent with Segra International Corp. (“Segra”) to explore a collaboration regarding plant micropropagation (also known as ‘tissue culture’). According to this letter of intent, OBL will negotiate a service contract with Segra for micropropagation services. Under the proposed service contract Segra would transition a set of existing cannabis cultivars from OBL’s proprietary genetic portfolio into tissue culture for genetic preservation and production via micropropagation. This portfolio includes valuable high CBD, full spectrum cultivars. Through select production partnerships in the industry, OBL aims to standardize the availability of high CBD, full spectrum products globally. OBL is currently partnered in various cannabis and industrial hemp projects for both breeding and cultivation throughout California and the world.
“Original Breeders League is currently developing projects with a footprint that spans across six different countries. For the first time in history, with our partnership with Segra and their advanced tissue culture technology, we are able to offer our partners and clients access to clean, fortified and stabilized cannabis and hemp genetics” said Priscilla P. Agoncillo, OBL CEO and co-founder.
About Original Breeders League:
Original Breeders League is a global platform created for passionate breeders, experts and companies in hemp and cannabis. All members of the OBL and its partners are bonded under the same mission: to preserve land-race genetics & proprietary cannabis strains, collectively contribute to unique breeding projects, and to develop viable plant-based products for current and evolving market needs. OBL is interested in utilizing micropropagated plantlets to further optimize its production capability, preserve genetics, and reduce the pathogen risks associated with traditional cannabis operations.
About Segra:
Segra is an agricultural life sciences company specializing in cannabis plant micropropagation. The company is developing industrial-scale cannabis micropropagation laboratories in Canada and California to produce disease-free, genetically verified plantlets for licensed producers globally. Segra has assembled a world-class team of specialists in the areas of plant tissue culture, agronomy, molecular genetics, regulatory compliance, and corporate finance.
On behalf of the Board of Directors,
Todd McMurray, President/CEO
SEGRA INTERNATIONAL CORP.
This news release includes statements containing certain “forward-looking information” within the meaning of applicable securities law (“forward-looking statements”). Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.