Ovation Science Significantly Expands Its Topical / Transdermal Cannabis Product Distribution in Four US States
Ovation Science Inc. has announced an exclusive licensing agreement with Stash House Distribution to expand its cannabis formulations into Oklahoma, Missouri, New Mexico, and Mississippi. This agreement aims to increase the company's market presence from 92 dispensaries in Nevada to over 2,800 dispensaries across five states. Ovation's products utilize the patented Invisicare® technology for enhanced cannabinoid delivery, promising a significant increase in revenue through royalties based on wholesale sales. The launch is expected to occur in Q4 of 2022.
- Exclusive licensing agreement with Stash House expands market reach to over 2,800 dispensaries.
- Potential for increased revenue through royalties based on wholesale sales in four states.
- Use of patented Invisicare® technology enhances the delivery of cannabinoids.
- No guarantees of product acceptance or sales success in the new markets.
- Expansion is contingent on continued sales in Nevada and regulatory changes.
Ovation Formulations Soon to be Potentially Available in Over 2800 Dispensaries
VANCOUVER, BC and LAS VEGAS, Sept. 7, 2022 /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 Invisicare®, is pleased to announce it has entered into an exclusive licensing agreement for its cannabis formulations for the states of Oklahoma, Missouri, New Mexico and Mississippi with Stash House Distribution ("Stash House"). Stash House is a leading national cannabis manufacturing, sales, and logistics company. Ovation receives a royalty based on wholesale sales in each state. With this agreement, Ovation solidifies its marketing strategy to increase revenues by licensing into new states and activates its growth momentum across North America.
"Launching our topical products with Stash House with their highly experienced product marketing and distribution team in four states, is an important step for the Company," said Terry Howlett, CEO of Ovation Science. " This expansion will now establish our products in markets that really need our science-based products. He added, "We have teamed up with Stash House as they are an experienced manufacturer and distributor, with a robust technology platform. They have both the knowledge and expertise to ensure our products will resonate with dispensaries and customers."
"We are eager to bring Ovation's formulations into our portfolio", said Shane Finn, COO of Stash House. "We were enticed by the science that backs Ovation's technology and know that consumers will immediately reap the benefits of these products. We have a very well-established distribution network in Oklahoma, and currently launching in Missouri, followed by New Mexico, and Mississippi in Q4. We plan to introduce Ovation's formulations under our brand and rapidly expand across these states by targeting key dispensaries with great products with proven technology and that is why we are so excited about this opportunity and to work with Ovation Science."
Ovation's expansion marks a significant increase in the availability of Ovation products through its licensees from the current 92 dispensaries in Nevada to a potential 2,800+ dispensaries over 5 states (Total estimated number of licensed dispensaries).
Ovation leverages its expertise in the pharmaceutical industry to develop highly effective, proprietary products. What makes Ovation's products different from any other topical cannabis products on the market is its superior delivery of CBD / THC and other cannabinoids using its proprietary skin delivery technology Invisicare®. Invisicare has over twenty years of research and development in the pharmaceutical industry; specifically, dermatology. Ovation formulates two types of topicals; ones that remain on the skin to deal with "skin issues" and transdermal creams that allow the CBD (cannabidiol), and/or the THC (tetrahydrocannabinol) and other cannabinoids to be absorbed through the skin into the bloodstream. Studies show Ovation's products have a 10 times greater release of CBD to the skin and over 5 times greater penetration compared to other products tested.
Statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure, or prevent any disease.
Stash House Distribution (www.stashhousedistro.com) manufactures and distributes a wide variety of cannabis finished form products to meet the needs of dispensary customers. In Oklahoma, Stash House solidified market strength by partnering with some of the most recognized national brands. Their proprietary technology platform enables stress-free 24-hour dispensary ordering and brand transparency at its customers' fingertips. This technology platform coupled with robust experience in distribution and sales separates Stash House from the rest of the market.
Ovation Science Inc. is a research and development company that develops topical and transdermal consumer products including its CBD/THC and other cannabinoid formulations which are licensed out and also distributed under Ovation's own brands; ARLO CBD Beauty and InVibe® MD ("health & wellness" line); all made with its patented Invisicare® skin delivery technology. The Invisicare 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 thirty proprietary medical / wellness topical and transdermal products along with a line of anti-aging / beauty formulas. Ovation earns revenues from royalties on licensees' sales and the sale of Invisicare, 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. Product Lines: HEALTH & WELLNESS: www.invibemd.com BEAUTY: www.arlocbdbeauty.com
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 sales and acceptance of its products in any of the four states cited, continued sales in Nevada or expansion of distribution to other states or continued sales in dispensaries or in retail markets. 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.
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