Ovation Science Topicals Launch with Planet 13 in Nevada
Ovation Science Inc. announced the launch of its topical product line in Nevada with Planet 13 Holdings, Inc., featuring both cannabis and hemp-derived products. The partnership aims to expand brand presence and generate revenue for both companies. Ovation's proprietary skin delivery technology, Invisicare®, enhances product effectiveness, with significant CBD release compared to competitors. Planet 13's topicals include various ratios of CBD and THC for relaxation, relief, and recovery. The companies are optimistic about driving growth and optimizing gross margins through this collaboration.
The partnership between Ovation Science and Planet 13 Holdings, Inc. aims to expand brand presence and generate revenue for both companies.
Ovation's proprietary skin delivery technology, Invisicare®, enhances product effectiveness, with significant CBD release compared to competitors.
Planet 13's topicals include various ratios of CBD and THC for relaxation, relief, and recovery, catering to diverse consumer needs.
The companies are optimistic about driving growth and optimizing gross margins through this collaboration, leveraging their respective strengths in the market.
No negative aspects were specifically highlighted in the press release.
VANCOUVER, BC and LAS VEGAS, NV / ACCESSWIRE / April 30, 2024 / Ovation Science Inc. ("Ovation" or the "Company") (CSE:OVAT)(OTCQB:OVATF), with its proprietary topical and transdermal cannabis products powered by its patented skin delivery technology Invisicare®, today announced the official launch of its topical product line in Nevada with Planet 13 Holdings, Inc. (CSE:PLTH)(OTCQX:PLNH) ("Planet 13"). These products will be available in store, reach customers through wholesale channels and the hemp derived products will be available online, marking an exciting expansion of Planet 13's product offerings. The cannabis derived topicals will be manufactured at the Planet 13 SuperStore in the state-of-the-art production facility where visitors can watch products being made, further enhancing the immersive customer experience that Planet 13 is renowned for. Planet 13's 112,000 square foot SuperStore and entertainment complex is located just off The Strip in Las Vegas. Planet 13 accounts for approximately 9-percent of the cannabis retail market share for the entire state of Nevada.
"The launch of our topical products with Planet 13 in Nevada is exciting for the Company," said Terry Howlett, President of Ovation. "Our products have always sold extremely well in Nevada; holding the position of #1 Topical for many years." He added, "Planet 13 has had extensive success in the past selling our topicals, but this time with the added incentive of launching the four products under their own brand. We know consumers will also be excited to see these topicals available throughout Nevada and in turn this will generate maximum revenue for Ovation and value for our shareholders."
"We've experienced great success with our topical offerings both in-store and online. Introducing a MEDIZIN branded topical line perfectly aligns with our strategic goals in Nevada, allowing us to leverage our production facility to expand our brand presence and boost wholesale revenue," explained Bob Groesbeck, Co-CEO of Planet 13. "We're thrilled to secure the Nevada rights to Ovation Science's patented technology and to harness the strength of our beloved MEDIZIN brand to dominate a new product category. This endeavor marks a significant stride towards optimizing our production facility, driving revenue growth, and enhancing our gross margins."
The Planet 13 Topical Product Line Includes:
MEDIZIN REST:
3:1 Ratio - 375mg CBD & 125mg THC - A CBD-infused transdermal cream crafted to alleviate soreness and discomfort to foster relaxation for a restful night's sleep.
MEDIZIN RECOVERY:
1:1 Ratio - 250mg CBD & 250mg THC - An ideal blend of CBD and THC to unlock the combined benefits of both cannabinoids to conjure the entourage effect
MEDIZIN RELIEF:
1:10 Ratio - 50mg CBD & 500mg THC - A THC-dominant transdermal cream designed to provide relief, complemented by CBD to balance the effects.
PLANET 13 PURE CBD:
Planet 13 PURE CBD with 400mg CBD per jar. A transdermal CBD cream designed to provide relief and promote relaxation.
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
Statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure, or prevent any disease.
About Planet 13
Planet 13 (https://planet13.com/investors/) is a vertically integrated cannabis company, with award-winning cultivation, production and dispensary operations across its locations in California, Nevada, Illinois, and upcoming sites in Florida. Home to the nation's largest dispensary located just off The Strip in Las Vegas, Planet 13 continues to expand its footprint. With the recent debut of its first consumption lounge in Las Vegas, DAZED!, and the opening of its first Illinois dispensary in Waukegan, bringing unparalleled cannabis experiences to the Chicago metro area. Planet 13 holds a medical marijuana treatment center license in Florida allowing for state-wide expansion throughout the Sunshine State. Planet 13's mission is to build a recognizable global brand known for world-class dispensary operations and innovative cannabis products. Licensed cannabis activity is legal in the states Planet 13 operates in but remains illegal under U.S. federal law. Planet 13's shares trade on the Canadian Securities Exchange (CSE) under the symbol PLTH and are quoted on the OTCQX under the symbol PLNH.
About Ovation Science Inc.
Ovation Science Inc. and its wholly-owned subsidiary; Ovation Science USA 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 Vancouver, Canada and Las Vegas, USA.
Stock symbols: CSE:OVAT and OTCQB:OVATF
Websites: CORPORATE: www.ovationscience.com
WELLNESS: www.invibemd.com BEAUTY: www.arlocbdbeauty.com
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 sales and acceptance of its products in any of the state or country cited, continued sales in dispensaries or in retail markets or expansion to other states or countries. 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.
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.
Neither the Canadian Securities Exchange, OTC Markets nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
CORPORATE INQUIRIES:
Doreen McMorran: info@ovationscience.com PH: 604-982-5700
SOURCE: Ovation Science Inc.
View the original press release on accesswire.com
FAQ
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