HAI's Proprietary Technology facilitates solubility and bioavailability of CBD and THC components in Mojave Jane's products
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TORONTO, Aug. 13, 2019 /CNW/ - Mojave Jane Brands ("Mojave Jane" or the "Company") (CSE: JANE) (OTC: HHPHF) (FSE: 0HCN), a California cannabis company, is pleased to announce that it is entering the market for cannabis-infused beverages by signing a Manufacturing License Agreement (the "Agreement") with Vancouver-based HAI Beverages Inc. ("HAI").
The Agreement allows Mojave Jane to exclusively license HAI's proprietary technology for the solubility and bioavailability of THC and CBD components in the State of California. The Company will use this technology in the formation process of flavorless distillates and concentrates produced specifically for non-alcoholic beverage products as a micro-dosage offering.
Advantages of HAI's proprietary technology:
- Allows the body to absorb THC and CBD components immediately, producing desired effects in a matter of minutes and enabling a much better control of dosages both for wellness and recreational purposes.
- Enables precise and predictable dosages.
- While producing a similar effect as an alcoholic beverage, a 12 oz micro-dosed drink, for example, can be enjoyed without negative side effects such as feeling hungover, causing liver damage, ingesting empty calories or remaining in the system for extended periods at a time.
- Neutral in taste for versatile applications.
- Bio-available concentrates in CBD or THC formulation.
Mojave Jane's CEO Gary Latham comments:
"While this is a big step in the evolution of cannabis products for recreational and wellness consumers, it is an even bigger move for Mojave Jane as we now enter California's massive beverage market. The license also allows us to produce an "additive" that can be marketed to other beverage producers, expanding this opportunity to the State's even larger adult beverage market.
We truly recognize this Agreement with HAI as an ideal match: The flexibility of HAI's technology lets us manufacture products that create custom effects catering to the specific needs of various consumer demographics. From HAI's perspective, they gain access to the California cannabis and adult beverage market since ingestible CBD and THC products based on their technology can only be produced in a licensed cannabis manufacturing facility like ours. I am looking forward to working with the HAI team on the integration process and as we explore the enormous potential of this opportunity together."
Bruce Clark, CEO of HAI Beverages states:
"The move from alcohol to cannabis as the active ingredient is the most significant innovation to the adult beverage industry in a generation. We are pleased to partner with the team at Mojave Jane to commercialize our technology and business processes in the California market. Mojave Jane has built an excellent platform to support commercialization of technologies such as ours as the beverage industry moves to provide healthier alternatives to consumers."
About HAI Beverages Inc.
HAI Beverages Inc. is a Canadian based Beverage Technology developer that has developed a range of water-soluble solutions for THC and CBD active beverages to support every segment of the adult beverage market in jurisdictions where these products are legal.
The HAI Beverage solution is an integrated business offering that bridges the gap between cultivator and bottler. Utilizing precision dosing, high efficiency packaging, best in class quality assurance procedures along with the ability to offer customized production ready concentrates. These products will offer a shelf stable product that is competitive with alcohol as an active ingredient.
About Mojave Jane Brands
Mojave Jane Brands Inc. is a Canadian-based cannabis sector brand and distribution company emerging as a true vertical integrator in California's legal cannabis space serving recreational and wellness markets. The Company's U.S. holdings are comprised of assets set up as a vertical stack including cultivation to scale, branding, packaging, manufacturing & processing, as well as, a distribution arm and the edibles brand CALIGOLD. Operating out of licensed strategic locations within the state, Mojave Jane is leveraging its consumer and brand-focused business model to generate sustainable profits delivering quality product by recognized brands.
Mojave Jane trades in Canada, ticker symbol JANE on the CSE, and in Europe, ticker symbol 0HCN on the FSE. Neither the CSE, nor the FSE has approved nor disapproved the contents of this press release. Neither the CSE, nor the FSE accepts responsibility for the adequacy or accuracy of this release.
Marijuana Industry Involvement
Canadian listings (CSE) will remain in good standing as long as they provide the disclosure that is rightly required by regulators and complying with applicable licensing requirements and the regulatory framework enacted by the applicable state in which they operate. Marijuana is legal in certain states however marijuana remains illegal under US federal law and the approach to enforcement of US federal law against marijuana is subject to change. Shareholders and investors need to be aware that adverse enforcement actions could affect their investments and that Mojave Jane's ability to access private and public capital could be affected and or could not be available to support continuing operations.
On behalf of the Board of Directors
Mojave Jane Brands Inc.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the intention of the parties to complete the Acquisition and certain ancillary transactions contemplated thereby. These transactions are subject to a number of material risks, and there is no assurance that they will be completed on the terms or within the timeframes currently contemplated, or at all. The forward-looking information contained in this press release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
All monetary references herein refer to Canadian dollars unless otherwise specified.
SOURCE Mojave Jane Brands Inc.
For further information: about Mojave Jane, please contact: 8 Wellington St. E. Mezzanine Level | Toronto, On | M5E 1C5 | www.MojaveJane.com; Gary Latham, Chief Executive Officer & Director, Email: [email protected], Phone: (760) 552-7122