Consumer Demand for Science-based Products Increases
VANCOUVER, May 7, 2019 /CNW/ - Ovation Science Inc. (CSE: OVAT) ("Ovation" or the "Company"), a topical and transdermal cannabis product development company with a patented skin delivery technology and backed by over twenty years of research and development, is pleased to announce that one of Ovation's proprietary products, marketed by Ovation's US licensee, was the top selling product in Nevada dispensaries in April according to HeadSet Inc., an analytics service provider for the cannabis industry.
"We know our topical and transdermal cannabis products work exceptionally well because we have the consumer testimonials that tell us this every day," said Terry Howlett, CEO of Ovation. "In addition, we are extremely proud that our licensed product achieved the highest unit sales in April in dispensaries in Nevada." He added, "Our US licensee markets our products to the dispensary market under their brand name BASKiN, and have introduced four Ovation products within the last year. All of these products are developed by Ovation using a patented delivery system which provides unique benefits to all of our products and obviously we are delivering the results!"
Earlier this year, Ovation announced their US licensee introduced the first-to-market recreational cannabis product which is formulated to quickly deliver a high-dose of THC into the blood stream (transdermal). This product is marketed under the name BASKiN GLOW. BASKiN GLOW contains 500 milligrams of THC and 50 milligrams of CBD in each 59ml jar. There are three additional products licensed from Ovation and marketed in Nevada under the name BASKiN including a topical cream with 150 mg. CBD, a transdermal BASKiN Sport product with 300 mg. CBD and the top selling product; a 400 mg. CBD transdermal cream. In the month of April, according to HeadSet, BASKiN 400mg had the highest unit sales for a topical cream in the state of Nevada. (Source: https://www.headset.io). The brand has been experiencing great traction in the marketplace, all powered by Ovation's delivery technology. Distribution of these products continues to expand into other states where cannabis is legalized.
The Company's products are powered by Invisicare® technology which is protected in eleven countries with comprehensive patent protection covering manufacturing, composition and use. These patents reaffirm the Company's unique position as a science-based, technology leader in the topical cannabis market.
About Ovation Science Inc.
Ovation Science Inc. is a research and development company that develops topical and transdermal cannabis and hemp formulations made with patented Invisicare® skin delivery technology. The technology enhances the delivery of cannabidiol (CBD) and tetrahydrocannabinol (THC) to and through the skin and is protected by patents in eleven countries. With over twenty years of topical and transdermal drug delivery experience in the pharmaceutical market, Ovation's management and science team have created a unique pipeline of over twenty-five patent-protected medical / wellness topical and transdermal cannabis products incorporating CBD, THC and combination products along with a line of anti-aging / beauty products made with CBD called ARLO Beauty. Ovation's business model is to develop product formulations powered by Invisicare® and market directly to consumers as well as license-out these topical and transdermal formulations to cannabis companies globally. Ovation earns income from licensing and development fees, royalties, the sale of Invisicare to its licensees and now revenue from its own product sales. Ovation trades on the CSE under the symbol OVAT. Visit our website www.ovationscience.com.
Statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure, or prevent any disease.
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. 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.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE Ovation Science Inc.
For further information: FOR INVESTOR RELATIONS: Dave Ryan, email@example.com, Phone: 604-283-0903 ext. 2; FOR BUSINESS DEVELOPMENT & CORPORATE INQUIRIES: Doreen McMorran, firstname.lastname@example.org, Phone: 604.283.0903 ext. 4