Partner Nextleaf acquires IP that ensures rapid onset time in water-soluble cannabinoid products
VANCOUVER, Feb. 11, 2020 /CNW/ - Infused beverage expert BevCanna Enterprises Inc. ("BevCanna", "BEV", or the "Company") (CSE:BEV,OTC:BVNNF, FSE:7BC) announced today that it is working with partner Nextleaf Solutions Ltd. (Nextleaf) (CSE: OILS, OTCQB:OILFF, FSE: L0MA), to employ their nano-delivery technology in BevCanna's upcoming lines of cannabis-infused beverages. BevCanna will have the exclusive rights to commercialize this unique technology.
Nextleaf, BevCanna's exclusive provider of water-soluble cannabinoids, has completed its acquisition of the intellectual property pertaining to the nano-delivery of cannabinoids. The acquisition includes the foundational processing methodology and two water-soluble formulations. Nextleaf intends to seek patent protection around the acquired IP and to partner with BevCanna to develop a new patent family around infused beverages.
"The IP allows consumers to feel the desired effect from cannabis-infused beverages in under 10 minutes," said John Campbell, Chief Strategy Officer at BevCanna. "We're eager to commercialize this innovative technology in Canada; and to act as the exclusive beverage commercialization partner, through BevCanna's branded and white-label cannabis-infused beverages."
"The critical driver for the success of cannabis-infused beverages is rapid onset time," continued Campbell. "This technology will give us a distinct advantage in the competitive cannabis-infused beverage marketplace."
"We are excited to commercialize Nextleaf's proprietary technology for the nano-delivery of cannabinoids through our partnership with BevCanna and their upcoming infused beverages," said Paul Pedersen, CEO of Nextleaf. "BevCanna has a world-class bottling plant on a naturally alkaline spring water aquifer, one of the most unique licensed production facilities in Canada,"
The Company also announces that it has entered into a marketing and investor relations agreement (the "Agreement") dated February 11th, 2020 with Aktiencheck.de AG (the "Consultant") pursuant to which the Consultant has agreed to provide certain corporate branding, marketing, online corporate communications and investor relations services to the Company for a term of one week for total cash consideration of €50,000, which was paid upon entry into the Agreement.
The Company and the Consultant maintain an arm's length relationship, and the Consultant does not have any interest, directly or indirectly, in the securities of the Company.
About BevCanna Enterprises Inc.
BevCanna Enterprises Inc. (CSE:BEV,Q:BVNNF,FSE:7BC) develops and manufactures cannabinoid-infused beverages and consumer products for in-house brands and white label clients. With decades of experience creating, branding and distributing iconic brands that have resonated with consumers on a global scale, the team demonstrates an expertise unmatched in the emerging cannabis beverage category. Based in British Columbia, Canada, BevCanna has a 292-acre outdoor cultivation site in the Okanagan Valley and the exclusive rights to a pristine spring water aquifer, access to a world-class 40,000-square-foot, HACCP certified manufacturing facility, with a current bottling capacity of up to 210M bottles per annum. BevCanna's vision is to be a global leader in infused innovations.
About Nextleaf Solutions Ltd.
Nextleaf Solutions Ltd. (CSE: OILS, OTCQB:OILFF, FSE: L0MA) is developing disruptive intellectual property for extraction, purification, and formulation of cannabinoids. The Company owns a portfolio of 12 issued patents pertaining to the industrial-scale production of high-purity, distilled cannabinoids, the key ingredient used in the manufacturing of standardized THC and CBD based products. Nextleaf Solutions commercializes its intellectual property portfolio through IP licensing, and supplying THC and CBD oils through Nextleaf Labs, a Health Canada licensed Standard Processor.
On behalf of the Board of Directors: John Campbell, Chief Strategy Officer Director, BevCanna Enterprises Inc.
Disclaimer for Forward-Looking Information
Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact are forward-looking statements. Forward looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend", "estimate" or the negative of these terms and similar expressions. Forward-looking statements in this news release include, but are not limited to: Nextleaf intends to seek patent protection around the acquired IP and to partner with BevCanna to develop a new patent family around infused beverages; We're eager to commercialize this innovative technology in Canada; and be the exclusive beverage commercialization partner through BevCanna branded, and white label cannabinoid infused beverages; this technology will give BevCanna a distinct advantage in the competitive cannabis-infused beverage marketplace; We are excited to commercialize Nextleaf's proprietary technology for the nano-delivery of cannabinoids through our partnership with BevCanna and their upcoming infused beverages; BevCanna has a world-class bottling plant on an alkaline spring water aquifer, one of the most unique licensed production facilities in Canada; statements with respect to the development and manufacturing of cannabinoid-infused beverages and consumer products for in-house brands and white label clients; the emerging cannabis beverage category; and the business plans of the Company.
Forward-looking statements are based on certain assumptions regarding the issuances of licences by Health Canada to the Company under the Cannabis Act; anticipated commercialization of products in 2020; anticipated successful patenting of technology by Nextleaf; BevCanna having and maintaining a competitive technological advantage over its competitors due to this technology; climate conditions; agricultural conditions; and expectations with respect to the future growth of recreational cannabis products. While the Company consider these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Readers are cautioned not to place undue reliance on forward-looking statements. The assumptions of the Company, although considered reasonable by it at the time of preparation, may prove to be incorrect. In addition, forward-looking statements necessarily involve known and unknown risks, including, without limitation, the Company not being issued licenses by Health Canada; risks associated with general economic conditions; risks associated with climate and agriculture; changes in consumer preferences; adverse industry events; future legislative, tax and regulatory developments; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the inability to implement business strategies; competition; currency and interest rate fluctuations and other risks. Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. For more information on the risk, uncertainties and assumptions that could cause anticipated opportunities and actual results to differ materially, please refer to the public filings of the Company which are available on SEDAR at www.sedar.com. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect our expectations as of the date hereof, and thus are subject to change thereafter. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law, and the Company does not assume any liability for disclosure relating to any other company mentioned herein.
SOURCE BevCanna Enterprises Inc.
For further information: For media enquiries or interviews, please contact: Wynn Theriault, Thirty Dash Communications, 416-710-3370, [email protected]; For investor inquiries, please contact: Luca Leone, BevCanna Enterprises Inc., 604-880-6618, [email protected]