Naturally Splendid has been active in a number of studies developing commercially viable products incorporating their 100% owned HempOmega™. These studies have been both private as well as government supported and have taken place at a variety of facilities such as POS BioSciences and the Saskatchewan Food Industry Development Center, Inc. (SFIDC).*The project was supported by the Saskatchewan Agri-Value Initiative (SAVI) under the Canada-Saskatchewan Growing Forward 2 bi-lateral agreement.
Summary of trial results:
Initial beverage formulations infused with HempOmega™ have been successful using coconut water for a Vancouver based company as well as incorporating HempOmega™ into an existing line of fruit juices for a manufacturer based out of the UK. Samples were provided to both manufacturers and the feedback was positive regarding the analytical analysis and organoleptic properties. A third European company, has recently reached out to NSE seeking a customized formulation of HempOmega to utilize in their branded beverage that will compete against the fish-based omega beverages in the market today.
NSE with the participation of the SFIDC has created 3 food prototypes using HempOmega™ which include; dough for pizzas and flatbreads, yoghurt and granola bar. The midterm reports from the SFIDC have come back with positive results with inclusions of HempOmega ranging from 5% to as much as 15%. In the case of the yoghurt, SFIDC was able to indicate that manufacturers of yoghurts will be able to make the daily claim when incorporating HempOmega as an ingredient. All prototypes have now moved onto shelf-life testing and NSE should expect the data within the next 30-60 days.
In summary, there has been significant advancement in the application of HempOmega™ in a variety of beverage and food products. The Company will continue to work with POS BioSciences and SFIDC to formulate and evaluate additional products enriched with HempOmega™.
FDA/Pet food and livestock feed:
The Company has established an Investigative Food Additive File with the FDA and had a positive meeting with the regulatory experts and top scientific consultants at the FDA regarding HempOmega™ use in pet food and livestock feed. NSE’s regulatory and science team are presently outlining an action plan and determining the next steps in the Food Additive Petition including the structure of a dog feeding trial.
The goal is to receive FDA approval to market HempOmega™ as a source of omega-3 fatty acids in the pet food/livestock feed industries.
Naturally Splendid CEO Mr. Craig Goodwin stated:
We are making great strides with this new and innovative ingredient derived from hemp oil which boasts an amazing natural balance of omega 3 & 6. And we are experiencing increased interest in HempOmega™ resulting in part from being a finalist in the NutraIngredients Awards in the Start-Up Ingredient of the Year Category. We are now presenting HempOmega™ to a variety of potential clients including a number of exporting opportunities. Samples have been provided and currently these global companies are formulating and working with the Company’s Scientific Advisors and internal staff to shorten the learning curve to be able to get products to market as quickly as possible. We are transitioning into a most exciting time for HempOmega™ as we begin to monetize this extraordinary omega opportunity.
Lexaria Bioscience Corp. (NASDAQ:LEXX)(NASDAQ:LEXXW)(CSE:LXX) (the “Company” or “Lexaria”), a global innovator in drug delivery platforms, is pleased to announce the appointment of Mr. Al Reese, Jr., to its Board of Directors
Mr. Reese has over 40 years experience in public and private businesses including as CFO of a formerly Nasdaq-listed energy company where he arranged finance transactions totaling over $10 billion dollars during his 20-year tenure. Mr. Reese was a Director and Chairman of the Audit Committee of a community bank in Texas for ten years until such time as it was acquired by a larger banking group in 2018.
Mexico looks to be closer than ever to cannabis reform, with the country releasing its regulation plans to make the drug legal in medical settings.
Meanwhile, despite the financial hardships seen recently in the Canadian cannabis market, CEOs in the country are still receiving top dollar, as per a new study.
Not for Distribution to United States Newswire Services or for Dissemination in the United States
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 the pricing of its previously announced best efforts overnight marketed offering (the “Offering”) of subordinate voting shares (the “Offered Securities”) of the Company at a price of C$16.00 per share for a total gross proceeds of approximately US$125 Million. The issue price represents a 3.3% discount to the last close of the Company’s subordinate voting shares traded on the Canadian Securities Exchange as of January 14, 2021. 100% of the Offering is expected to be purchased by a total of seven new and existing institutional investors, including current shareholder, Wasatch Global Investors.
Ready for New Cannabis and Psychedelics Boom Ahead: CEOs of Aphria, Icanic Brands, Red Light Holland, and Tilray Discuss New Global Market Opportunities
Wall Street Reporter, the trusted name in financial news since 1843, has published reports on the latest comments and insights from leaders at: Tilray, Inc. (NASDAQ: TLRY), Icanic Brands (OTC: ICNAF) (CSE: ICAN) Red Light Holland (OTC: TRUFF) (CSE: TRIP) and Aphria, Inc. (NASDAQ: APHA).
Investors are cheering new and expected legislation which is opening new market opportunities for both cannabis and psychedelics globally. Innovation in premium branding, growing technologies, manufacturing, with operational execution are key, in the drive towards profitability. Wall Street Reporter highlights the latest comments from industry thought leaders in cannabis and psychedelics:
Lexaria Bioscience Corp. Announces Closing of $11 Million Public Offering with Full Exercise of Underwriter Option to Purchase Additional Shares and Warrants
Lexaria Bioscience Corp. (NASDAQ:LEXX)(NASDAQ:LEXXW)(CSE:LXX) (the “Company”) today announced the closing of its previously announced underwritten public offering (the “Offering”) of 1,828,571 units, each unit consisting of one share of common stock and one warrant to purchase one share of common stock at a public offering price of $5.25 per unit (all prices in US$). The warrants have an exercise price of $6.58 per share, are immediately exercisable and will expire five years following the date of issuance. In connection with the Offering, the underwriter exercised in full its option to purchase an additional 274,285 shares of common stock and additional warrants to purchase 274,285 shares of common stock. The gross proceeds from the Offering were approximately $11.04 million, before deducting underwriting discounts and estimated offering expenses. No securities were offered or sold in Canada, including through the CSE or any other trading market in Canada
H.C. Wainwright & Co. (“Wainwright”) acted as the sole book-running manager for the Offering and is a non-related party to the Company.