Ovation Science Provides an Update on its Topical Cannabis Research and Development Efforts

Rhea-AI Summary

Ovation Science Inc. has launched new high-dose CBD formulations in response to the growing CBD market. The company developed a transdermal cream with 1500mg of CBD per ounce and a beauty line offering 200mg per ounce for anti-aging creams and 2000mg for body lotion. The demand for high-dose CBD topicals is increasing, supported by a projected CAGR of 21.2% for CBD products from 2021 to 2028. Ovation aims to expand its market presence beyond Nevada, where its products rank among the top five in sales at dispensaries.

Positive

• Developed a high-dose CBD transdermal cream with 1500mg of CBD per ounce.
• New beauty line formulations include anti-aging creams with 200mg per ounce and body lotion with 2000mg.
• Market demand for high-dose CBD products is growing, projected at a CAGR of 21.2% from 2021 to 2028.
• Current formulations rank among the top five in sales in Nevada dispensaries.

Negative

• No assurance of continued sales or expansion of distribution to other states.
• Uncertainty in consumer purchasing of high-dose products.
• No guarantees of future performance or regulatory changes.

New High Dose CBD Formulations Developed As CBD Market Flourishes

VANCOUVER, BC and LAS VEGAS, Dec. 3, 2021 /PRNewswire/ - (CSE: OVAT) (OTCQB: OVATF) – Ovation Science Inc. ("Ovation" or the "Company"), a topical and transdermal cannabis product development company with a patented skin delivery technology and backed by over twenty years of research and development, announces that it has developed new high dose CBD (Cannabidiol) formulations for both its "health and wellness" and its "beauty" lines. Although Ovation also has highly effective formulations that contain THC (Tetrahydrocannabinol), Ovation formulates its CBD-only product from US grown hemp which contain no THC and therefore has no psycho active effects.

"Ovation is a cannabis research and development company and although we have over twenty-five topical formulations already developed including THC, CBD and combinations of the two, we wanted to expand the dosage range of our CBD formulations. We are very pleased to have developed a CBD transdermal cream formulation with 1500mg of CBD per ounce (per 30ml) which would give a consumer a 3000mg jar of transdermal CBD cream," said Terry Howlett, CEO of Ovation Science. "Additionally we have also formulated our beauty line with 200mg per ounce (per 30ml) for the anti-aging day and night creams and 2000mg for our body lotion (4 ounce bottle)."  He added, "We believe that high dose CBD topicals are the future, particularly as consumers keep experiencing the benefit of using topical CBD (and THC) creams and lotions. We believe there is a demand for high dose CBD topicals and transdermal creams and we are excited to explore these new opportunities further with potential licensees."

CBD is believed to have a range of positive health benefits and therefore its popularity continues to grow amongst consumers. According to a ResearchAndMarkets.com February 2021 report, CBD derived from hemp, is expected to grow at a compound annual growth rate (CAGR) of 21.2% from 2021 to 2028 owing to increasing demand and rising awareness. There are different products formats that consumers can use however CBD topicals can be an easy, simple alternative for consumers trying CBD for the first time. There is no universal dosage of CBD that is published.  Consumers should discuss options with their healthcare provider as every person is different and it can be dependent on current medications, body weight, and other factors. Statements have not been evaluated by the Food and Drug Administration or Health Canada. These products are not intended to diagnose, treat, cure, or prevent any disease.

Ovation's licensee for Nevada sells the Company's Invisicare^® powered CBD and CBD/THC combo formulations to dispensaries across Nevada. The Company previously announced that these Ovation topical products formulations are in the top 5 in sales in Nevada dispensaries according to Headset.io. Ovation is prepared to duplicate this success and is seeking licensees in the other thirty-six approved states to implement this plan.

Ovation Science Inc. is a research and development company that licenses its topical and transdermal cannabis formulations made with its proprietary Invisicare^® skin delivery technology and targets cannabis companies globally. The technology enhances the delivery of cannabidiol (CBD) and tetrahydrocannabinol (THC) to and through the skin. Ovation management has over twenty years of topical drug delivery experience and has leveraged this experience and technology to develop a series of topical and transdermal cannabis products.  Ovation's products have many advantages over cannabis products that are smoked or ingested including avoiding the side-effects from smoking and eliminating the first pass effect through the liver (which reduces the amount of CBD / THC available and increasing the onset time). 

For information about Ovation Science Inc. visit www.ovationscience.com

Ovation's stock trades on the CSE under the symbol OVAT at www.theCSE.com and on the OTCQB under OVATF and can be accessed on www.otcmarkets.com/stock/OVATF.

CBD Product Lines:
HEALTH & WELLNESS:  www.invibemd.com
BEAUTY:  www.arlocbdbeauty.com

Statements have not been evaluated by the Food and Drug Administration or Health Canada. These products are not intended to diagnose, treat, cure, or prevent any disease.

About Ovation Science Inc.
Ovation Science Inc. is a research and development company that develops topical and transdermal consumer products including its CBD/THC cannabis formulations which are licensed out and also distributed under Ovation's own brands; ARLO CBD Beauty and InVibe^® MD ("health & wellness" line), and secondly, its unique DermSafe^® hand sanitizer; all made with its patented Invisicare^® skin delivery technology. The technology enhances the delivery of ingredients to and through the skin and is protected by patents, and proprietary formulations which cannot be duplicated. With over twenty years of topical and transdermal drug delivery experience in the pharmaceutical market, Ovation's management and science team have created a unique pipeline of over twenty-five proprietary medical / wellness topical and transdermal products along with a line of anti-aging / beauty formulas. Ovation earns revenues from licensing and development fees, royalties, the sale of Invisicare to its licensees along with revenue from its own product sales. Ovation has offices in Vancouver, BC Canada and Las Vegas, Nevada, USA. Ovation trades on the CSE under the symbol OVAT and in the USA on OTC Markets under the symbol OVATF. Visit our website www.ovationscience.com for more information.

Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. In particular there is no assurance of continued sales or expansion of distribution to other states or continued sales in dispensaries or in retail markets. There is no guarantee that consumers will purchase high dose products. There are no guarantees of future performance or changes to regulations. Ovation Science Inc. cautions that all forward looking statements are inherently uncertain and that actual results may be affected by a number of material factors, many of which are beyond Ovation Science Inc.'s control. Accordingly, readers should not place undue reliance on the forward-looking information. Ovation disclaims any obligation to revise or update any such forward-looking information to reflect future results, events or circumstances, except as required by law. 

Neither the Canadian Securities Exchange, OTC Markets nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

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SOURCE Ovation Science Inc.

FAQ

What new products has Ovation Science launched as of December 2021?

Ovation Science has launched new high-dose CBD formulations, including a transdermal cream with 1500mg of CBD per ounce and various beauty products.

What is the projected growth rate for CBD products?

The CBD market is projected to grow at a compound annual growth rate (CAGR) of 21.2% from 2021 to 2028.

How are Ovation's products performing in Nevada dispensaries?

Ovation's topical products rank among the top five in sales in Nevada dispensaries.

What is the stock symbol for Ovation Science?

Ovation Science trades on the Canadian Securities Exchange under the symbol OVAT and on the OTCQB under the symbol OVATF.

What are the concerns regarding Ovation Science's future performance?

There is no assurance of continued sales, expansion to other states, or consumer interest in high-dose products, leading to uncertainty about future performance.