Ovation Science Signs License Agreement with Planet 13 for Its Topical / Transdermal Cannabis Products for Nevada
- Ovation Science signs exclusive licensing agreement with Planet 13 Holdings for the rights to its topical/transdermal formulations in Nevada
- Planet 13 will have exclusive manufacturing, sales, and marketing rights for Ovation's products in Nevada
- Ovation will receive royalties based on wholesale sales
- Planet 13 accounts for just under 9% of cannabis dispensary revenue in Nevada
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Under the terms of the agreement, Planet 13 will have the exclusive manufacturing, sales and marketing rights for Ovation's topical / transdermal products for
"We are very pleased to reach this agreement with Planet 13, said Terry Howlett, President of Ovation. "Not only does Planet have the world's largest dispensary but they have a robust wholesale division which services other dispensaries throughout
"Our Planet 13 Las Vegas SuperStore has been the launchpad for many of the best cannabis brands because of the popularity of our store as a destination and the memorable experiences our guests have each time they visit," said David Farris, VP of Sales & Marketing, Planet 13. "We look forward to this opportunity with Ovation Science and bringing our customers highly effective topical products both in our dispensary, through our wholesale accounts and online."
Ovation leverages its expertise in the pharmaceutical industry by using its patented skin delivery technology Invisicare® in its highly effective, proprietary products. Invisicare, backed by over 20 years of research and development, enables substantially more CBD and THC and other cannabinoids to be delivered to and through the skin, which translates into better results for patients. In a recent in-house study, Ovation compared five CBD brand leaders to Ovation Science's topical CBD cream. All competitor creams tested release less than
In conjunction with this announcement, the Company announces the termination of the License Agreement with Light House Strategies, LLC for the state of
Statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure, or prevent any disease.
Planet 13 is a vertically integrated cannabis company, with award-winning cultivation, production and dispensary operations in
Ovation Science Inc. is a research and development company that develops topical and transdermal CBD/THC and other cannabinoid products which are out-licensed and also distributed under Ovation's own brands; ARLO CBD Beauty and InVibe® MD ("wellness" line); all powered by its patented Invisicare® skin delivery technology. Invisicare enhances the delivery of ingredients to and through the skin and is protected by patents and proprietary formulations which cannot be duplicated. With over 20 years of pharmaceutical drug delivery experience, 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
Stock symbols: | CSE:OVAT and OTCQB:OVATF |
Websites: | CORPORATE: www.ovationscience.com |
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 state cited, continued sales in dispensaries or in retail markets or expansion to other states. 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.
