12 Nov, 2019, 08:00 ET
VANCOUVER, British Columbia, Nov. 12, 2019 /CNW/ -- Core One Labs Inc. (CSE: COOL), (OTCQX: CLABF), (Frankfurt: LD6, WKN: A14XHT) ("COOL" or the "Company") announces its new non-exclusive distribution partner, Fenix Logistics, has delivered CannaStripsTM into eight new stores putting the total of stores CannaStripsTM have been delivered to at 50.
CannaStripsTM is COOL's innovative oral strip for effective buccal mucosal delivery of that is changing the way people consume cannabis. CannaStripsTM have most recently been distributed by DYME Distribution ("DYME") which had a sales team covering the entire state of California. In a recent article put out by DYME's parent company, the DYME announced downsizing the number of employees in order to restructure the company moving forward. COOL has decided on a non-exclusive distribution endeavour with Fenix Logistics out of Sacramento, CA ("Fenix") to distribute both of the Company's brands, Rêveur and CannaStripsTM. Fenix covers 150+ retail stores and delivery companies with seven sales representatives and has already landed CannaStripsTM into eight new stores. This is in addition to the stores already carrying both Rêveur and CannaStripsTM products on their shelves.
The Company's President, Casey Fenwick, stated, "This is a good transition for the COOL brands. Fenix offers sales, distribution, and marketing services, which will allow our brands to look and feel congruent when presented in an in-store face-to-face situation as well as in promotional marketing materials on social media or in print. In addition to distribution and marketing services, we are discussing a possibility of Fenix assisting COOL with distribution of the company's outdoor harvest when these services are required."
CannaStripsTM is a formulated oral strip for effective buccal mucosal delivery that disrupts the barrier created by saliva coating the mucosal membrane for the active materials (in this case cannabinoids) which have been nanoparticulated and encapsulated to penetrate the multiple layers of mucosal and sub-mucosal membranes to the blood stream. Once in the blood stream the encapsulation is undetectable as a foreign material by the liver. This undetectability allows the material to avoid being filtered out of the blood stream by the liver. The encapsulation also is more effective in penetrating the blood-brain barrier and allowing for greater bioavailability and extending the effective time from a single dose.
About Core One Labs Inc.
Core One Labs Inc. is a technology company that licenses its technology to a state-of-the-art production and packaging facility located in Southern California. The Company's technology produces infused strips (similar to breath strips) that are not only a safer, healthier option to other forms of delivery but also superior bioavailability of cannabis constituents. Some strips will also include supplemental co-active ingredients such as nutraceuticals, vitamins and peptides. The technology provides a new way to accurately meter the dosage and assure the purity of selected product. From start to finish, the production process, based on the Company's technology, tests for quality and composition of all the ingredients used in each and every strip which results in a delivery system that is safe, consistent and effective. In addition, through its efforts to develop a better CannaStripsTM product, the Company has developed considerable expertise in cannabis extraction and nursery activities. The operational expertise developed by the Company as a result of these efforts has created new market opportunities for the Company in white label sales.
Core One Labs Inc.
CEO & Director
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Cautionary Disclaimer Statement:
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
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. They are not guarantees of future performance. The Company cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to the Company's limited operating history and the need to comply with environmental and governmental regulations. In addition, marijuana remains a Schedule I drug under the United States Controlled Substances Act of 1970. Although Congress has prohibited the US Justice Department from spending federal funds to interfere with the implementation of state medical marijuana laws, this prohibition must be renewed each year to remain in effect. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, The Company undertakes no obligation to publicly update or revise forward-looking information.
SOURCE Core One Labs Inc.
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