Canopy Growth (TSX:WEED) and Skinvisible Pharmaceuticals (OTCQB:SKVI) has announced the signing of a definitive license agreement for Skinvisible’s patented topical formulations.
As quoted in the press release:
Per the agreement, Canopy Growth is exclusively licensed to distribute Skinvisible’s topical products in Canada, and shall have a first right of refusal for all other countries, excluding China and the United States.
The agreement covers two distinct product lines made with Skinvisible’s Invisicare® technology. Skinvisible will first develop unique topical hemp-based products that will be launched by Canopy Hemp Corporation in Canada and the United States. The agreement also includes potential cannabis-based topical products using the Invisicare® technology when and if federal regulations permit CBD or THC infused topical products for sale in Canada.
“This agreement will have an immediate impact on our hemp product lines as this proven technology can be applied to a hemp oil product in today’s regulatory environment,” said Mark Zekulin, President, Canopy Growth. “Moving forward, cannabis product diversity will be increasingly important and this agreement prepares us for future product opportunities on that side of our business if and when the regulatory environment evolves.”
“This agreement with Canopy Growth Corporation is a significant milestone for Skinvisible,” said Skinvisible President Terry Howlett. “Canopy Growth is the leader and innovator in the cannabis space with over half a million square feet of GMP-certified cannabis cultivation, a robust hemp operation, multiple commercialized brands in Canada, and rapid international expansion and partnerships underway including Germany, Australia, Brazil, Chile, Denmark and Spain. Canopy Growth is the perfect partner to take Skinvisible’s topical products globally, always in keeping with its reputation for only pursuing federally legal opportunities.”
American cannabis sales hit US$17.5 billion in 2020, a research group’s new study shows.
Meanwhile, a Canadian cannabis producer began offering CBD beverages in the US, another move that shows how interested Canadians are in the overall US cannabis market at the moment.
Some pretty important news out of health and wellness; beverage and natural products company BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC) this week. For those of you following the Company with us, stay tuned.
As investors continue to prioritize cannabis opportunities in the US, market watchers expect mergers and acquisitions (M&A) to play a role in the future for Canadian companies.
A consolidation trend has been expected in the Canadian cannabis space for some time now based on the size of the market compared to the number of operations in the country.
BioHarvest Sciences Inc. Unveils the Unique Polyphenolic Content of Its Upcoming Olive-Based Nutraceutical
The product will include polyphenols known to have significant health benefits.
BioHarvest Sciences Inc. (CSE: BHSC) (“BioHarvest” or the “Company”) has reached an important milestone in its development program of additional Nutraceuticals. The olive-based Nutraceutical product scheduled for market availability in the second half of 2022 will contain the following unique matrix of polyphenols: hydroxytyrosol, trosol, and verbascoside. These compounds are the major polyphenols in naturally grown olives and are responsible for the high antioxidant activity of olives and olive oil. Importantly, the BioHarvest olive-based Nutraceutical product will provide all the benefits of olives and olive oil with a low calorie count per serving.
Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or the “Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced today that it will report financial results for the fourth quarter and full year ended December 31 st , 2020 on Thursday March 25 th , 2021 before the market opens.
The Company will host a conference call and webcast to discuss its financial results and provide investors with key business highlights on Thursday March 25 th , 2021 at 8:30am Eastern Time (7:30am Central Time).