Glance Technologies Enters into Agreement to Buy Auyverdic Holistic Formulas to Blend with Cannabis for International Distribution
Glance Technologies (CSE:GET.CN) has announced that its partially-owned subsidiary, Cannapay Financial, has entered into an agreement to acquire the rights to a package of holistic Ayurveda formulas intended to treat a number of ailments.
As quoted in the press release:
Cannapay has agreed to purchase all of the intellectual property pertaining to the creation, production and manufacturing of the products and has purchased rights to blend the products with Cannabis to create new products (the “Cannabis Products”). The agreement also grants Cannapay international distribution rights to the products and the Cannabis Products in all territories except Canada.
“This acquisition gives Cannapay the know-how to partner with licensed growers, producers and distributors in international jurisdictions to create Ayuverdic based products containing cannabis,” says Glance President Penny Green, “We intend to brand, market, sell and distribute these Ayuverdic Cannabis products internationally, in accordance with all applicable laws, through the mobile apps using the Glance Pay technology that we are creating for the Cannabis market.”
The following products are being acquired by Cannapay from Cannacopia Therapeutics Inc.:
Product Key Ingredients Intended Uses Gel hemp root and essential oils remove skin spots, rashes, treat eczema, psoriasis, hives, burns, allergies Balm Organic coconut, hemp root and essential oils Remove skin spots, rashes, treat eczema, psoriasis, hives, burns Topical Analgesic Aloe Vera, arnica, menthol, and other essential oils To relieve pain on or below the skin 2 Tea blends Various herbs Relaxation Sexual Lubricant Ayuverdic oil Enhanced sexual experience Organic Hand Cleaner and Scrub Essential oils, free of chemicals and parabens All natural hand cleanser Organic Glass Cleaner Salt and fat and hemp binder All natural, eco-friendly food safe cleaner
The products have not been clinically or otherwise tested to confirm any of the intended uses described above. Cannapay intends to partner with licensed producers in various jurisdictions to complete the research and development needed to blend TCH or CBD or both into each of the products and meet local testing and licensing and other requirements so that the new Cannabis Products can be legally produced and sold in other countries.