HYTN Innovations Inc Stock Price, News & Analysis

HYTN Innovations has received initial orders and import permits from the UK's 4C Labs, enabling the company to begin exporting cannabis-based pharmaceuticals to the United Kingdom. The company has completed registration on the UK's National Drugs Control System (NDS), allowing transactions with licensed UK companies. The first shipment will be manufactured under Good Manufacturing Practices (GMP) standards, marking HYTN's transition from a domestic to international cannabis company.

HYTN Innovations Inc. (CSE: HYTN, FSE: 85W0, OTC PINK: HYTNF) has received an additional Good Manufacturing Practices (GMP) certification for its Kelowna manufacturing facility, expanding its Drug Establishment Licence (DEL) to include distribution as a licensed activity. This builds on HYTN's existing PIC/S GMP certification, which already covers fabrication, packaging, and labeling of non-sterile pharmaceutical products.

The new certification enables HYTN to distribute GMP-certified products directly, although the company may still work with regional distributors as needed. This expansion supports HYTN's growth in non-sterile pharmaceutical production and allows for distribution in markets requiring GMP certification, such as Germany, the UK, Australia, and Poland.

Additionally, HYTN has granted 200,000 Restricted Share Units (RSUs) to certain consultants under the company's Equity Incentive Plan.

HYTN Innovations Inc. (CSE: HYTN, OTC PINK: HYTNF) has announced international manufacturing and pricing agreements with 4C LABS, a leading UK cannabis-based pharmaceuticals distributor. This partnership enables HYTN to produce bulk and final packaged cannabis products for distribution in the UK and other global markets. HYTN's GMP license from Health Canada and PIC/S certification from Australia's TGA are important for this collaboration.

The partnership aims to enhance operational efficiency by manufacturing new products and co-manufacturing existing ones. HYTN's CEO, Elliot McKerr, emphasized that this collaboration validates their regulatory work and positions them for international market expansion. The partnership also targets growth opportunities in Germany and Australia, with their respective medical cannabis markets valued at CAD $2 billion and AUD $200 million in 2022.

HYTN Innovations Inc. (CSE: HYTN | FSE: 85W0 | OTC PINK: HYTNF), a pharmaceutical company specializing in psychoactive and psychotropic compounds, has announced its approval for trading on the OTC PINK Market effective July 29th, 2024, under the symbol HYTNF. This move is expected to enhance the company's visibility and accessibility to a wider range of investors.

CEO Elliot McKerr stated that this milestone aligns with HYTN's long-term strategic goals for growth and value creation. The company's shares will continue to trade on the Canadian Securities Exchange (CSE) and the Frankfurt Stock Exchange (FSE) under their existing symbols.

HYTN focuses on the formulation, manufacturing, marketing, and sale of products containing cannabis-derived cannabinoids and psilocybe-derived tryptamines, aiming to become a premier provider in federally regulated markets.

HYTN Innovations has received a Drug Establishment License (DEL) from Health Canada, allowing it to manufacture, package, and label non-sterile pharmaceuticals containing cannabis and psilocybin. This milestone enhances HYTN's Good Manufacturing Practices (GMP) capabilities, enabling the company to expand into international markets such as the UK, Germany, and Australia. The DEL complements HYTN's existing GMP certification from Australia's Therapeutic Goods Administration, cementing its role as a leading global producer in its field.

This achievement will accelerate HYTN's production and distribution capabilities, meeting the growing demand for these products. The company's officers and operators have been awarded 3,080,000 Restricted Share Units in recognition of this significant achievement.

HYTN Innovations Inc. (HYTN) welcomes the U.S. recommendation to reclassify cannabis from a Schedule I to a Schedule III controlled substance, viewing it as a positive step towards harmonizing federal regulations with global trends. The reclassification is expected to facilitate research, reduce operational complexities, alleviate tax burdens, and enhance the economic environment for cannabis businesses. HYTN sees this as a growth opportunity that could impact the global approach to cannabis regulation and integration into mainstream healthcare and consumer markets.