OTTAWA, ON, Nov. 26, 2020 /CNW/ - Molecule Holdings Inc. (CSE: MLCL) ("Molecule" or the "Company"), a Canadian craft-focused cannabis beverage production company, is pleased to announce that it has signed a cannabis supply agreement with ABcann Medicinals Inc. ("ABcann" or the "Supplier"), a wholly owned subsidiary of Vivo Cannabis Inc. (TSX: VIVO) (OTCQX: VVCIF) ("VIVO"), enabling Molecule to use Vertosa emulsions for use in its cannabis beverages.
ABcann has territory rights to Vertosa emulsion technology and generates the products on site. Vertosa's customized water-compatible solutions are reported to accelerate onset time, prolong shelf-life, increase bioavailability, and improve the taste profile of cannabis-infused products.
"We are excited to be working with Vertosa's emulsion tech and are impressed with their rigor and the test results we have seen. We are happy to be using this technology to infuse beverages and pleased to be working on this with Vivo," said Molecule CEO Phil Waddington.
"We are very pleased about the signing of this agreement with Molecule. We look forward to a long and mutually beneficial relationship with Molecule," said Michael Bumby, CFO of VIVO.
ON BEHALF OF THE BOARD
MOLECULE HOLDINGS INC.
Per: "Philip Waddington"
President, CEO and Director
About Molecule Holdings Inc.
Molecule works with client-partners to engage in the production of cannabis-infused beverages and edibles. We provide the infrastructure, know-how, technology, and licensing for craft producers to create consumable cannabis products. Molecule's goal is to be the on-ramp for companies wishing to enter into the cannabis beverage and edibles market, but who choose not to go through the significant process of obtaining the required cannabis licences. For more information visit: www.molecule.ca
Vertosa creates industry-leading active ingredients for infused product makers. Their patent pending nano- and micro-emulsions are carefully designed for the specific needs of each customer, with pre-suspended aqueous solutions that create homogeneous and stable products while maximizing bioavailability, clarity, and taste. Vertosa works closely with their lab partners and clients of all sizes throughout the manufacturing process to achieve target potency and accelerate products to market. Learn more about Vertosa at vertosa.com.
About ABcann Medicinals Inc.
ABCann Medicinals Inc. is a wholly owned subsidiary of VIVO Cannabis™. VIVO Cannabis™ is recognized for trusted, premium cannabis products and services. It holds production and sales licences from Health Canada and operates world-class indoor and seasonal airhouse cultivation facilities with proprietary plant-growing technology in Hope, British Columbia and Napanee, Ontario. VIVO has a collection of premium brands, each targeting different customer segments, including Canna Farms™, Beacon Medical™, Fireside™, Fireside X™, Lumina™ and Canadian Bud Collection™. The Company is expanding its production capabilities and distribution network. Harvest Medicine, VIVO's patient-centric, scalable network of medical cannabis clinics, has serviced over 100,000 patient visits. VIVO is pursuing several partnership and product development opportunities and is focusing its international efforts on Germany and Australia. The Company has a healthy balance sheet and is well-positioned to accelerate its path to profitability. For more information visit: www.vivocannabis.com
Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this press release.
Certain statements contained in this news release may constitute forward-looking information. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. The Company's actual results could differ materially from those anticipated in this forward-looking information as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, and other factors, many of which are beyond the control of the Company. In this news release, the Company is making forward-looking statements with respect to the supply agreement to be entered into with ABcann Medicinals Inc.. The Company believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Any forward-looking information contained in this news release represents the Company's expectations as of the date hereof and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
SOURCE Molecule Holdings Inc.