SIGNED GENETICS DEVELOPMENT AGREEMENT
Endless Sky is pleased to announce that, effective April 17, 2020, Endless Sky and Tritium have signed a definitive agreement to officially begin the development (the “Development Program”) of proprietary hemp varieties for approval on Health Canada’s List of Approved Cultivars (the “LOAC”). We are extremely excited to be working with Tritium and its breeder partners as their team offers unmatched experience in hemp breeding and agronomic development. Tritium owners and its partners have garnered extensive experience while providing services for more than 20 years in other crop kinds to seed companies such as Bayer Crop Science Canada, Cargill, Nutrien, Nuseed, BrettYoung, Canterra and trait development companies such as Cibus. We believe that Tritium’s extensive expertise and ability to provide new hemp varieties according to Endless Sky’s specified objectives will separate the Company as a premier low-cost, agricultural-volume producer.
With respect to the agreement, Scott Horner (see bio below), President of Tritium commented, “It’s exciting to be working with Endless Sky as we feel our partnerships in genetics development will perfectly compliment their business model as an industrial-scale extractor of hemp, requiring a long term supply of high quality unique cannabinoid hemp products. We feel Endless Sky’s decision to deliberately enhance their value chain from a genetics and agronomic perspective sets the company apart from others in the space and will continue to differentiate the company as it works to secure a lead in the Canadian extract marketplace.”
Scott Horner - President Tritium³H Inc. & General Manager/Owner of HyTech Production Ltd.
Scott Horner has 25 years of experience in the International Seed industry and holds the positions of Director on the Canadian Seed Growers Association National Board and current Past President of the Seed Association of the Americas, he is also a Past President of the Canadian Seed Trade Association, having served on the board and executive for 9 years. Scott is an owner and Senior Manager at HyTech Production, a 20+ year old seed services company, servicing international markets and providing full service seed supply management including, production research, hybrid production, regulatory compliance management, seed certification, quality assurance testing, facility services (treating, packaging, storage and inventory of seed), and international shipping logistics.
As mentioned, and as part of the Development Program’s mandate, Tritium will be screening new hemp varieties according to the development objectives specified by Endless Sky. With our current focus on becoming a leading producer of CBD extracts, Endless Sky has positioned Tritium to focus on the development of strains with high-CBD and low-THC content. Tritium has indicated that the new cultivars produced could return up to 10% CBD content. This is significant for Endless Sky as the efficiency of revenue generation is significantly affected by the resulting cannabinoid concentration of the Company’s biomass input stock. In pursuing a consistent source of higher cannabinoid concentrated hemp, Endless Sky is actively working to ensure that the economies of scale which are available to the Company by utilizing outdoor grown hemp are leveraged to their full extent.
We are excited to announce that, through the program, we will be working with Tritium to test 20 new varietals of high CBD hemp seed during the summer of 2020. We believe these trials are being conducted at the perfect time as recent changes to Health Canada’s LOAC approval process have expedited the timeline for cultivars to be admitted to the LOAC. Once a variety is approved by Health Canada through the Development Program, Endless Sky will have the ability to secure an exclusive license right to the variety, thereby protecting it from use by other producers in the region. Endless Sky and Tritium anticipate the development program may be able to produce high CBD seed tailored specifically for Endless Sky’s growing regions prior to our 2021 harvest.
Although CBD remains our current focus, the Development Program gives Endless Sky the versatility to adjust its objectives and pursue other cannabinoids as demand dictates. As a result, Endless Sky remains far more direct in its efforts to develop new cannabinoid markets than other producers who lack genetic development capability. As the medical field continues to research a myriad of rare cannabinoids and their immense benefits, our tailored breeding program will allow the company to provide new active pharmaceutical ingredients to target specific outcomes of clients while benefiting from high market prices of CBN, CBG, and efficacy boosting terpenes that command sales premiums. Endless Sky has maintained the goal of becoming a pharma-grade extractor and be positioned where the market is trending. Management believe that the flexibility of being able to tailor plants for clients will accomplish this goal, setting the Company apart now and in the future.
Jayme Hunter has over 20 years of entrepreneurial experience in Alberta oilfield and agriculture sectors. Jayme owns and operates a family farm located at Caroline, Alberta, he founded and manages a small community minded investment fund, and owns and operates a real estate holding company focused on long term passive revenue assets.
Scott Horner has 25 years of experience in the International Seed industry and holds the positions of Director on the Canadian Seed Growers Association National Board and current Past President of the Seed Association of the Americas, he is also a Past President of the Canadian Seed Trade Association, having served on the board and executive for 9 years.