Phivida Holdings Inc (CSE:VIDA, OTCQX:PHVAF) (“Phivida”), is pleased to see the decision by the U.S. Drug Enforcement Administration (DEA) to remove the cannabis component cannabidiol (CBD) from its Schedule 1 list of controlled substances. The DEA defines Schedule 1 as a list of controlled substances with no currently accepted medical use and a high potential for abuse. CBD, when contained in “finished dosage formulations” has now been moved to Schedule 5, defined as drugs with lower potential for abuse. The ruling does not broadly apply to CBD.
“We see this reclassification of CBD in pharmaceuticals as a good sign that will bolster the growing awareness of CBD as a substance that delivers many benefits, and opens the door for other CBD-based treatments, in line with the recent FDA approval of a drug to treat childhood epilepsy,” said Jim Bailey, President and CEO. “Phivida is launching its Oki line of functional beverages which provide a spectrum of non-psychoactive phytocannabinoids through infusion with active hemp extract. While our Oki and Vida+ product lines are not subject to FDA approval, as we grow to have product on shelves in all 50 states, we will benefit from the increased acceptance of the efficacy of cannabis and hemp products.
On September 12, 2018, Phivida announced the bottling and launch of its Oki brand of functional beverages and supplements, infused with active hemp extract. Oki will be available to consumers in up to 2,400 natural specialty store locations within the United States, in a significant distribution channel market valued at over USD 4.1 billion in retail sales.
Phivida also announced today the issuance of 1,508,512 common shares of Phivida Holdings. The common shares are for payment for a combination of consulting services provided in regards to an advisory on the Cannabis Beverages Inc. (“CanBev”) joint venture with WeedMD Inc. and management sourcing.
ABOUT Phivida Holdings Inc.
Phivida Holdings Inc. is headquartered in Vancouver, BC with operations in San Diego CA. Phivida is a premium functional food and beverage company focused on whole plant nutrition and natural ingredients that help best maintain overall health and balance in the human body. The company infuses organic active hemp extract into a variety of premium beverages and clinical products for everyday health. Phivida embraces and celebrates a return to organic, natural, plant-based foods and beverages, and a focus on holistic health and wellness. The mission is to help reduce the world’s dependence on pharmaceuticals and provide food and beverage choices that allow customers to live a balanced, healthy lifestyle. For more information, visit phivida.com
For further information: Website www.phivida.com, Toll free +1 (844) 744-6646 (ext. #2), Email IR@phivida.com; Investor Relations: Craig MacPhail, NATIONAL Equicom, 416-586-1938, email@example.com; Media Relations: Amie Lauder, NATIONAL Public Relations, 416-586-1943, firstname.lastname@example.org
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).