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BIOHARVEST SCIENCES INC. SUCCESSFULLY COMPLETES CANNABIS R&D PROGRAM

VANCOUVER, CANADA, AND REHOVOT, ISRAEL, March 23, 2022 – BioHarvest Sciences Inc. the (“BioHarvest” or the “Company”) (CSE: BHSC) today announced that it has produced Cannabis Biomass in large scale industrial bioreactors, which represents the completion of the Company’s Cannabis R&D program.

On December 8th, 2021, BHSC became the first company ever to announce that it could produce Cannabis biomass without growing the plant itself. Building on that breakthrough, the Company has made significant progress, and has now produced Cannabis in large scale industrial bioreactors, marking the start of the transition to commercial scale manufacturing. To that end, the Company has commenced the process to obtain a production license in Israel for its Cannabis products to complement the R&D license it has used to date for the Cannabis development program.


Dr. Yochi Hagay, CTO, said “I am elated and proud of this achievement. The R&D team has relentlessly pursued this moment, which marks a new era for the Cannabis industry. Our proprietary and unique amalgamated trichome structure has proven resistant to shear forces applied during the cell growth process in liquid media and it will demonstrate more advantages when it comes to the medicinal application of our products. I have never doubted our ability to use our CELLicitation technology to produce Cannabis without the need to grow the plant itself and we have broken biological barriers to grow high performance trichomes in liquid suspension. We are now ready to bring our first unique Cannabis compositions to the world. We will of course continue to invest in Cannabis R&D to add more Cannabis products to the portfolio, appreciate the IP assets and drive even further manufacturing efficiencies.”


BioHarvest plans to bring its first Cannabis products to market in 2022 and will be converting the current VINIA® 2 tons/year facility in Rehovot, Israel to produce Cannabis. This is happening in conjunction with the transition of all VINIA ® manufacturing to the new 20 tons/year facility in Yavneh, Israel, which will support the scaling of successful sales of VINIA® in the US and beyond.


Ilan Sobel, CEO, states “Our unprecedented achievements present a great opportunity for the Cannabis industry. Consistent, clean, and efficacious Cannabis that is produced with the highest ESG credentials and capital efficiency with significantly lower manufacturing costs is the revolution this industry needs to gain further market traction and trust by the regulators worldwide. Our CELLicitation platform technology is a true market disruptor, cementing BioHarvest’s position as a leader in plant cellular biology. With the completion of the initial Cannabis R&D program, more focus can now be applied towards achieving the desired scale for our two business verticals, Polyphenols/Antioxidants and Cannabis.”

 

About BioHarvest Sciences Inc.

BioHarvest Sciences Inc. (CSE: BHSC) is a fast-growing Biotech firm listed on the Canadian Securities Exchange. BioHarvest has developed a patented bio-cell growth platform technology capable of growing the active and beneficial ingredients in fruit and plants, at industrial scale, without the need to grow the plant itself. This technology is economical, ensures consistency, and avoids the negative environmental impacts associated with traditional agriculture. BioHarvest is currently focused on nutraceuticals and the medicinal cannabis markets. Visit:www.bioharvest.com.


BioHarvest Sciences Inc.

Ilan Sobel, Chief Executive Officer

For further information, please contact:

Dave Ryan, VP Investor Relations & Director

Phone: 1 (604) 622-1186

Email: dave@bioharvest.com

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