July 22, 2022

Pharmaflorx receives $10 millions financial instrument from Investissement Quebec / MEI (Economy and Innovation Ministry)


GATINEAU, QC, July 22nd, 2022. Pharmaflorx Inc. (“Pharmaflorx” or the “Company”) is pleased to announce that, through its parent company Pharmaflorx Capital, it has received a financial instrument valued at $10 million from Investissement Quebec in partnership with the Ministry of Economy and Innovation (MEI). This investment will allow the Company to strengthen its facility development and technology capabilities, which will have a significant impact on its ability to deliver unparalleled value to its customers, improve operational efficiency, and achieve long-term strategic objectives.

The funds received from this investment will enable Pharmaflorx to deploy state-of-the-art equipment in its facility, thereby enhancing operational capabilities and ensuring the highest quality products for our international customers. Specifically, the funds will be allocated towards expanding the company’s production capacity and equipping existing rooms with advanced data analytics sensors, such as PAR sensors, environmental sensors, and infrared cameras. These sensors will facilitate the collection of data necessary to achieve higher concentration products, as well as automate production processes, thereby reducing the need for manual intervention.

Pharmaflorx recognizes that its international customers demand the utmost level of quality, consistency, and traceability, and investing in advanced equipment is critical to meeting these expectations. Technology is a driving force for innovation, and this implementation will leverage it to enhance operations and provide greater value to our customers.

Furthermore, this investment will position Pharmaflorx as one of the world’s most eco-friendly indoor pharmaceutical-grade plant metabolite producers, saving over 15 million KwH of electricity and 9000 tons of carbon dioxide through various recuperation methods.

In summary, this partnership between Pharmaflorx, Investissement Quebec, and the MEI will accelerate the Company’s facility development and technology plans, creating a world-class environment for both employees and customers. The board expresses gratitude for the support of its investors and the collaboration between IQ and MEI, and is committed to delivering exceptional value to its customers.