Olds Softgels Inc. Breathes New Life into Old(s) Factory
Plant Can Produce 2.8 Billion Gel Caps Per Year – LPC
“Olds Softgels Inc. is strictly for the medical community, and will never produce a product for the recreational market.”
So said Jerry Bechtold, General Manager of one of Canada’s newest licensed producers (LPs). Olds Softgels Inc. received its Health Canada Processing Licence on September 20, 2019, and is ready to focus on the medical cannabis market. Specifically, it will produce CBD softgels using CBD extract at precise doses to make them a traditional pharmaceutical product.
Previously, the plant was home to Olds Banner Pharmacaps. Terra Life Sciences, Olds Softgels Inc.’s parent company, purchased the facility and began upgrading the site. Licensing comes about 18 months after Terra Life Sciences secured $46 million to convert the plant.
“This financing will help translate our company’s success as a leading global manufacturer of pharma-grade softgels into a prominent position in the medical cannabis industry.”
According to its website, Terra Life Sciences is “a pharmaceutical company researching and developing innovative cannabis-derived medical products.” The company combines “exceptional clinical research, precise extraction, customized compounding, and standardized dosing and delivery.”
Company Already Established as a Softgels Manufacturer – LPC
Olds Softgels Inc. didn’t wait around for its Processing Licence to get started. Almost immediately, it provided services for the pharmaceutical industry. These include softgel manufacturing, packaging, and research and development. Further, the company produces its own line of products including Canadian Wild Pacific Salmon Oil and Chewable Power Blueberry Antioxidant.
“We are a contract formulator, manufacturer and packager of over-the-counter nutritional and dietary supplements,” the Olds Softgels Inc. states on its website. “We execute private label formulations for our clients and create custom products under exacting quality requirements.”
Meanwhile, Terra Life Sciences is developing the CBD formulations to include in those softgels. It says it can “deliver extremely accurate dosages” that are a “highly effective system for cannabis-derived medications.” It also mentions CBD and THC drops, which enter the bloodstream directly through the mucous membrane of the mouth.
The Olds Softgels Inc. story is similar to one in New Brunswick when Highlanders Cannabis Corp. took over a shuttered pharmaceutical plant in Nova Scotia.
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