WeedMD and Phivida to Enter into Joint Venture for Cannabis-Infused Beverages
March 08 2018 - 10:00AM
InvestorsHub NewsWire
![](https://investorshub.advfn.com/uimage/uploads/2018/3/8/yfmwophivida.png)
WeedMD and Phivida to Enter into Joint Venture for Cannabis-Infused
Beverages
CanBev Inc. is positioned to become the premiere
cannabis-infused
bottling plant in
Canada
Toronto and Vancouver, Canada -- March
8, 2018 –- InvestorsHub NewsWire -- WeedMD Inc. (TSX-V:WMD)
(OTC:WDDMF)
(FSE:4WE) (“WeedMD”), a federally
licensed producer and distributor of medical cannabis and
Phivida Holdings Inc. (CSE:VIDA) (OTC:PHVAF)
(“Phivida”), a premium brand of cannabidiol
("CBD") infused functional beverages and clinical health products,
are pleased to announce the signing of a letter of intent (“LOI”)
to form a joint venture focused on cannabis-infused beverages. The
new joint venture company, Cannabis Beverages Inc. (“CanBev”),
plans to develop a production facility at WeedMD’s state-of-the-art
greenhouse in Strathroy, Ontario.
![](https://investorshub.advfn.com/uimage/uploads/2018/3/8/p[vhfvideo.png)
Click
here for a
presentation on the Cannabis Beverages Inc. (CanBev Inc.) joint
venture project.
CanBev will operate one of the first
cannabis-infused beverage production facilities in Canada. The
joint venture partnership will focus on manufacturing, marketing
and distribution of cannabinoid-infused beverages for the medical
and future adult-use cannabis markets.
WeedMD will be the exclusive cannabis supplier
and distributor for CanBev cannabis-infused beverages and will
designate production space at its 610,000 sq. ft.
state-of-the-art facility in Strathroy for CanBev’s
operation. As an emerging cGMP certified food grade production
plant, WeedMD’s Strathroy facility will equip CanBev with extensive
production infrastructure, including 25,000 sq. ft. of packaging
area and cold storage, as well as adequate space to expand for
future growth.
“As WeedMD builds out its production footprint,
we will focus on product innovation, extending our product line and
building new brands. Canadian medical consumers, especially those
in seniors’ care, are interested in functional beverages as they
integrate cannabis into their medical treatment plans,” said
Michael Kraft, Chairman of WeedMD. “We are eager to work alongside
Phivida’s world-class management team to develop
cannabinoid-infused beverages and brands for both the medical and
adult-use markets.”
Phivida will be responsible for product
innovation, research and development, formulation and branding.
Phivida will also sublicense encapsulation technologies to CanBev
for enhanced bioavailability and solubility and create new consumer
brands to serve target consumer segments in the pending adult-use
market.
“Phivida is pleased to partner with an industry
leader and build towards a leadership share of the global
cannabis-infused beverage market,” said John-David A. Belfontaine,
President and Chairman of Phivida. “WeedMD is the ideal partner for
Phivida, as they will provide CanBev with the ability to distribute
into the federally legal medicinal cannabis market in Canada and
apply for a license for cultivation and sales under the ACMPR.
WeedMD provides CanBev with solid infrastructure, strong
management, world class genetics and proven success in the Canadian
health care market. Phivida provides CanBev with the opportunity to
bring our premium cannabinoid-infused beverages to patients and
consumers across Canada and bring federally legal cannabis-infused
consumer packaged goods and brands to the Canadian market for the
first time in the history of the industry.”
CanBev has no plans to sell any cannabis-infused
products in the U.S. or any other market unless or until it is
legally permissible to do so at all government levels. The joint
venture is subject to the parties finalizing definitive
documentation and TSX Venture Exchange approval.
About WeedMD
Inc.
WeedMD Inc. is the publicly-traded parent
company of WeedMD Rx Inc., a federally-licensed producer and
distributor of medical cannabis under the Access to Cannabis for
Medical Purposes Regulations (ACMPR). The Company operates a 26,000
sq. ft. indoor facility in Aylmer, Ontario, and is awaiting its
second-site cultivation license for its greenhouse facility located
in Strathroy, Ontario, representing 610,000 sq. ft. or 14 acres
under glass. WeedMD has entered into supply agreements in addition
to strategic relationships with established cannabis brands. The
Company is focused on providing medical cannabis to the long-term
care, assisted living and seniors’ markets in Canada through its
specialized and comprehensive platform. It is dedicated to
educating healthcare practitioners and furthering public
understanding of the role that medical cannabis plays - including
as it pertains to regulatory requirements, indications and
potential side effects.
For more information, access our investor
presentation here and corporate
video here.
About Phivida Holdings
Inc.
Celebrating Health and Wellness, In Harmony™,
Phivida's mission is to lead the alternative health care sector as
the benchmark standard in premium cannabinoid infused foods,
beverages and clinical products. Using nanoencapsulation
technology, Phivida converts phytocannabinoids into water soluble
delivery format, enhancing bioavailability, and timed released
within the body. Phivida’s encapsulated cannabinoids are infused
into functional beverages, foods and supplements containing a
proprietary blend of phytonutraceuticals studied to target a range
of health conditions, from chronic pain to terminal diseases. The
World Anti-Doping Association's recent decision to lift its
ban of CBD from hemp oil and the World Health
Organization's recent statement supports the clinical benefits
of CBD worldwide. Phivida is traded on the Canadian Securities
Exchange as "VIDA".
For a list of Phivida’s cannabinoid infused consumer
products
click here.
Follow WeedMD On:
![](https://investorshub.advfn.com/uimage/uploads/2018/3/8/weglgsocial_logos.png)
For further information on WeedMD, please
contact:
WeedMD Inc.
Keith Merker, Chief Financial Officer
Tel: 519-765-2440 Ext. 222
Email: investor@weedmd.com
To learn more, visit us
at www.weedmd.com
For Media Inquiries:
Marianella delaBarrera
Margin Communications & Public
Relations
Tel: 416-897-6644
Email: marianella@marginpr.com
For further information on Phivida, please
contact:
Phivida Holdings Inc.
John-David Belfontaine, President and
Chairman
Tel: +1 (844) 744-6646 (ext.
#2)
Email: IR@phivida.com
To learn more, visit us at
www.phivida.com
Forward-Looking
Information
This press release contains forward-looking
information based on current expectations. Statements about the
date of trading of the Company's common shares on the Exchange and
final regulatory approvals, among others, are forward-looking
information. These statements should not be read as guarantees of
future performance or results. Such statements involve known and
unknown risks, uncertainties and other factors that may cause
actual results, performance or achievements to be materially
different from those implied by such statements. The Company
assumes no responsibility to update or revise forward-looking
information to reflect new events or circumstances unless required
by law.
___________________________________________________________________________________________________________________________________________
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