VANCOUVER, June 25, 2019 /CNW/ - Ovation Science Inc. (CSE: OVAT) ("Ovation" or the "Company"), a product development company with a patented skin delivery technology and twenty-plus years of skincare research and development, is pleased to announce that its product under license in the USA, remains the #1 topical cannabis product sold in Nevada dispensaries.
According to Headset data, a cannabis analytics company that provides key business intelligence to the cannabis industry, Ovation Science's transdermal CBD (cannabidiol) formulation under license again is ranked the #1 selling topical in Nevada in June by number of units sold according to their latest update. This follows a previous announcement that it ranked #1 in April (and continued to be #1 through-out May). (Source: https://www.headset.io)
Ovation's patented skin delivery technology, Invisicare®, is the backbone of all products developed by Ovation Science. It provides exceptional topical and transdermal delivery of CBD and THC to and through the skin; greater than other products on the market according to the Company's research studies. With five products already being successfully sold in Nevada dispensaries, the Company looks forward to future growth to other states by its licensee as well as the launch of their own product lines in July.
"The continued #1 ranking of our product in Nevada will be a catalyst to expansion into other states by our licensee," said Terry Howlett, President of Ovation. "This will add immediate royalty revenue and shareholder value as our products will have the opportunity to be offered in significantly more dispensaries than before." He added, "We also have interest from potential licensees outside of the USA including Canada and Europe and these opportunities would give Ovation's products the opportunity for global expansion."
Ovation products are unique from other infused product companies as the Company leverages its expertise in the pharmaceutical industry to develop highly effective, patent-protected products that have the results to prove it. Ovation products are used for improved wellness, pain management and even anti-aging, to name a few. Ovation earns revenues from licensing and development fees, royalties and the sale of Invisicare to its licensees. In addition the Company will be launching its new line of CBD Beauty products in July in the US both in the retail market and online.
Statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure, or prevent any disease.
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 cannabinoids such as 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. Ovation's business model is to develop and market its two product lines ARLO CBD Beauty and Invibe MD as well as continuing to out-license its topical and transdermal formulations to cannabis companies globally. Ovation formulated CBD and THC products are marketed in Nevada in state-approved dispensaries by its US licensee with additional states being added. Ovation earns revenues 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.
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: Andrew Yehia, [email protected], Phone: (844) 892-3771; FOR BUSINESS DEVELOPMENT & CORPORATE INQUIRIES: Doreen McMorran, [email protected], Phone: 604.283.0903 ext. 4