TORONTO, June 28, 2018 /CNW/ - Xanthic Biopharma Inc. (formerly Aurquest Resources Inc.) ("Xanthic" or the "Company", CSE: xTHC) is pleased to announce the first production run of Xanthic CBD Water by the Company's strategic partner, Xanthic Beverages (formerly Avitas CBD Water, LLC), at a PepsiCo-contracted bottling facility. Xanthic CBD Water is now ready for shipment to more than 500 retail locations in Central and Eastern Washington and Northeastern Oregon.
This is the first significant production milestone for Xanthic Beverages, as Xanthic CBD Water is expected to be on store shelves in time for the July 4th holiday in the US. For more details about the Xanthic Beverages strategic partnership, please see the Company's previous press releases dated March 22, 2018, April 24, 2018, and May 29, 2018.
Ryan Maxson, Co-Founder and CEO of Xanthic Beverages, commented, "Since the beginning of our co-branding partnership with Xanthic, the Xanthic Beverages team has worked extremely hard to execute this production milestone. Our next steps include pushing the product to market and continuing execute our strategic vision. We look forward to seeing how consumers receive our unique flagship product!"
Tim Moore, CEO of Xanthic, commented, "Our Xanthic Biopharma team is extremely pleased with the achievement of this milestone. We commend the Xanthic Beverages team for successfully executing our co-branding initiative. Production and shipment of Xanthic CBD Water marks the first step of Xanthic Biopharma expanding our brand and being the first to market with this proprietary cannabinoid powderization technology. The Xanthic Biopharma team looks forward to continuing to forge strategic relationships with producers and distributors in the US, Canada and International markets."
Xanthic, through its wholly-owned operating subsidiary, Xanthic Biopharma Limited, provides valuable intellectual property to cannabis industry participants, enabling its strategic partners to produce high quality, innovative, non-combustible cannabis and cannabis-infused products. Using a proprietary process, Xanthic empowers its strategic partners to deliver superior cannabinoid solubility, improved bioavailability, accurate micro-dosing, and greater consistency versus competitive infused products. Through its investment in Xanthic Beverages, Xanthic has access to non-cannabis derived CBD-infused products that qualify for distribution outside of the cannabis dispensary network and into mainstream retail. www.xanthicbio.com and www.xanthicbev.com.
This news release includes statements containing certain "forward-looking information" within the meaning of applicable securities law ("forward-looking statements"). Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur and include, but are not limited to, the timing of placing Xanthic CBD Water on store shelves in time for the July 4th holiday in the US. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Xanthic is under no obligation, and expressly 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 expressly required by applicable law. The Canadian Securities Exchange accepts no responsibility for the adequacy or accuracy of this release.
SOURCE Xanthic BioPharma