ORCHID
VENTURES SECURES EXCLUSIVE GLOBAL LICENSE FOR CELLG8®, A PATENTED
AND CLINICALLY PROVEN DELIVERY SYSTEM FOR CANNABIS
PRODUCTS
IRVINE, CA -
APRIL 2, 2020 -- InvestorsHub NewsWire
-- ORCHID
VENTURES, INC. (CSE: ORCD OTC: ORVRF) (the "Company"
or "Orchid"),
a multi-state cannabis company, is pleased to announce that Orchid,
through a wholly owned subsidiary, has entered into a licensing
agreement, dated March 31, 2020 (the "Licensing
Agreement") with two privately held
nutrient delivery system companies. The Licensing Agreement
provides the Company with global exclusivity to CELLg8®'s patented
liposomal delivery technology for use in THC products and rights to
sell for all other cannabinoids, nutrients, vitamins, and
supplements.
Pursuant to the
Licensing Agreement, the Company will have the global exclusive
right to sell CELLg8® for use in THC products and non-exclusive
right to sell the product within CBD, supplement, vitamin, and
nutraceutical industries. Under the Licensing Agreement, the
Company will issue an aggregate of 6,000,000 common share purchase
warrants ("Warrants")
which will allow the Licensors to acquire one common share of the
Company (a "Warrant
Share") at
a price of $0.05 per Warrant Share for a period of 24 months.
Certain of the Warrants are subject to certain vesting milestones,
as follows: (a) 1,500,000 Warrants are immediately exercisable; (b)
1,500,000 Warrants once the Company does US$3MM in aggregate sales
of CELLg8®; (c) an additional 1,500,000 Warrants once the Company
does US$10MM in aggregate sales of CELLg8®; and (d) 1,500,000
Warrants once the Company does US$15MM in aggregate sales of
CELLg8®. The Warrants issued in connection with the Licensing
Agreement are non-transferable and any Warrant Shares issued upon
the exercise thereof will be subject to a four-month-and-one-day
statutory hold period in accordance with applicable securities
laws. To maintain global exclusivity of CELLg8® use in THC
products, the Company must meet the following purchase
requirements:
Timeline
|
Target
|
Month
1-6
|
Licensee purchasing
at least US$350,000.00 in Products from CELLg8® in the first
consecutive six month period commencing with the Effective
Date
|
Month
7-12
|
Licensee purchasing
at least US$650,000.00 in Products from CELLg8® by the end of the
consecutive 12 month commencing with the Effective Date
|
Month
12-18
|
Licensee purchasing
at least US$1,000,000.00 in Products from CELLg8® by end of the
consecutive 18 month period commencing with the Effective
Date
|
CELLg8®
is a nutrient delivery system that has been clinically proven
through safety, absorption, and blood glucose studies to enhance
the absorption of most vitamins, minerals, herbs and
cannabinoids. CellG8® was developed by Dr.
Emek Blair and has been published in five medical journals
including The American Journal of
Endocannabinoid Medicine and the Journal of the American Chemical
Society.
When CellG8® is formulated with cannabis products, it drastically
increases bioavailability and even more importantly, makes edible
products effective in less than 5 minutes. The amount of active THC
needed in a dose is also reduced by over 80% because of the
effectiveness and bioavailability. Published clinical studies can
be found at
www.CELLg8Sciences.com.
![](https://investorshub.advfn.com/uimage/uploads/2020/4/2/Aspose.Words.97c66b05-80b5-49e0-b09a-3f9e0edddb44.002.png)
"For several months
we have been working with Puffin Hemp® developing a scalable
solution for the cannabis, CBD, and nutraceutical industries.
CELLg8® is not only clinically proven and published, but has also
undergone a safety study with cannabinoids and is proven to not
only be safe, but highly effective. The fact that people will no
longer be waiting an hour or more for an edible to take effect,
will drastically increase consumer confidence. Orchid did not
launch edible products because we always had safety concerns due to
the length of time they take to kick in. The result is that many
people consume more than they should and have a negative and
potentially unsafe experience. Now with CELLg8®, we are able to
eliminate that concern with a product that takes effect in less
than five minutes. The development around this product has been
incredible, and we feel that CELLg8® won't be an option for brands,
it will be the industry standard. The fact that we have science now
that is clinically proven and published, allows us to work with
brands globally to increase their product efficacy and ultimately
provide a better and safer user experience, is a game changer."
said Corey Mangold, Founder & CEO. "In the last six months, we
have kept our heads down and focused on expanding our portfolio,
driving revenue diversification and staying focused on what brought
us into this industry, 'Creating the Highest Standards in
Cannabis'. With the recent launch of PurTec Delivery Systems which
provides the cleanest and best performing vape hardware on the
market, along with other unique delivery systems, and now with
CELLg8®, we are well positioned to be one of the leading innovation
companies in the cannabis industry."
"It's not 'You are
what you eat.' It's 'You are what you absorb,'" Dr. Emek Blair,
founder and inventor of CELLg8® explains. "Our bodies are
fundamentally terrible at absorbing nutrition. What a lot of people
complain about, especially when they're taking supplements, is that
they take it and they don't feel any different. That's because when
you're taking CBD, for instance, 95 percent of it gets rejected by
your body, and it takes a long time to absorb."
To improve
absorption levels, Blair looked at how infants absorb nutrients
from breast milk, and discovered that by surrounding CBD particles
with little fat bubbles (the difference between liposomal hemp and
ordinary hemp), the human body would recognize the CBD as nutrition
and absorb on a larger scale.
"If I don't need a
whole lot of hemp — because almost all of it is getting absorbed —
then I don't need a huge farm. If I don't need a huge farm, I need
less electricity, less gasoline, less everything, so there's less
pollution," Blair explains. "We try to be as environmentally
conscious as possible, and so not only do we use local hemp, we
also use one-twentieth of the amount of hemp."
While supplements
hold many health benefits, the majority are destroyed and not
absorbed after consumption. The active nutrient compounds go unused
and are wiped out by the system. The 8th generation liposomes,
created through CELLg8 technology, has been shown to dramatically
increase the absorption of nutrient actives - up to 20x higher than
regular supplements and 10x higher than any other formula on the
market. The CELLg8® lipid delivery technology is clean, safe, and
perfected as a scalable production process. With molecular and
flavor science, CELLg8® is an ideal partner for cannabis
products.
CELLg8® Sciences
has begun working and formulating with several multi-state brands
in the cannabis and CBD industries. Product formulation testing
with the first group of brands is nearing completion and products
are projected to hit shelves in Spring 2020. For more information
please visit
www.CELLg8Sciences.com.
ABOUT ORCHID
ESSENTIALS
Orchid Essentials
is an Irvine, CA-based multi-state operator that launched in Oregon
and California in August 2017 and has since developed a mass-market
brand and loyal consumer following with its premium cannabis
products and unique vape hardware delivery system. Since July 2019,
Orchid has diversified its efforts and has brought to market
innovative services and product offerings to support brands
throughout the global cannabis industry. Orchid has diversified its
portfolio to include PurTec Delivery Systems, a company that
produces, markets and sells clean vaporizer hardware that has been
emissions tested against the most stringent standards in the world
set forth by the EU and has unrivaled product quality and value
pricing. Orchid,
through its wholly owned subsidiary, has launched a patented and
clinically proven bioavailability solution to increase the
absorption of THC and other cannabinoids making products much more
effective and an activation time of less than five minutes. With a
continued focus on brand and intellectual property development,
Orchid will continue to create new and innovative products and
technologies, then bring them to the global cannabis marketplace
and set the gold standard for delivery systems whether it's vape or
formulation sciences. Orchid's management brings significant
branding, product development and distribution experience with a
proven track record of scaling businesses and building sustainable
revenue growth through value-generating partnerships and innovation
that creates enterprise value. Learn more at https://orchidessentials.com/
ON BEHALF OF THE BOARD OF DIRECTORS – ORCHID VENTURES,
INC.
Corey
Mangold
CEO
and Director
investors@orchidessentials.com
Investor Relations
Corey
Mangold
949-357-5818
corey@orchidessentials.com
The CSE does not
accept responsibility for the adequacy or accuracy of this
release.
Safe Harbor
Statement
Except for
historical information contained herein, statements in this release
may be forward-looking and made pursuant to the safe harbor
provisions of the U.S. Private Securities Litigation Reform Act of
1995. Words such as "anticipate",
"believe", "estimate", "expect", "intend" and similar expressions,
as they relate to Orchid Ventures, Inc. and Orchid Essentials any
of its affiliates or subsidiaries (collectively, the "Company") or
its management, identify forward-looking
statements. These statements are based on
current expectations, estimates and projections about the Company's
business based, in part, on assumptions made by management. These
statements are not guarantees of future performance and involve
risks, uncertainties, and assumptions that are difficult to
predict. Therefore, actual outcomes and results may, and probably
will, differ materially from what is expressed or forecasted in
such forward-looking statements due to numerous factors, including
those described above and those risks discussed from time to time
in the Company's Canadian securities regulatory filings with
sedar.com, Factors which could cause
actual results to differ materially from these forward-looking
statements include such factors as (i) the development and
protection of our brands and other intellectual property, (ii) the
need to raise capital to meet business requirements, (iii)
significant fluctuations in marketing expenses, (iv) the ability to
achieve and expand significant levels of revenues, or recognize net
income, from the sale of our products and services, (v) the
Company's ability to conduct the business if there are changes in
laws, regulations, or government policies related to cannabis, (vi)
management's ability to attract and maintain qualified personnel
necessary for the development and commercialization of its planned
products, and (vii) other information that may be detailed from
time to time in the Company's Canadian securities regulatory
filings with sedar.com. The Company undertakes no obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or
otherwise.
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