Cannabis Global Inc
(OTC: MCTC) and Sugarmade's BudCars Cannabis Delivery Service Enter
a Product License Agreement in Cannabis Edibles
Technology
LOS ANGELES, CA --
April 22, 2020 -- InvestorsHub NewsWire -- Cannabis Global, Inc.
(OTC:
MCTC), a cannabinoid and hemp extract science forward company
developing infusion and delivery technologies, today announces the
licensing of several patent-pending technologies to
Sacramento-based BudCars Cannabis Delivery Services, in conjunction
with Sugarmade, Inc. (OTCQB:SGMD),
for use in cannabis edibles for the regulated California
marketplace. Under the terms of the licensing agreement,
Cannabis Global Inc will license its unique cannabinoid infusion
technologies, which will be utilized by Budcars for the production
of super-premium, highly bioavailable cannabis edibles.
"We have developed
and have pending patents on several technologies that not only make
the production of cannabis edibles less expensive but also improve
product quality. While we are rolling out our own
hemp-oriented product lines utilizing these technologies, we are
now able to leverage these developments via licensing arrangements
to manufactures within the regulated cannabis markets," commented
Cannabis Global Inc (MCTC)
CEO Arman Tabatabaei. We are looking forward to our working
relationship with BudCars and Sugarmade.
Under the terms of
the licensing agreement, Cannabis Global will supply technology and
licensing rights to BudCars, which will be responsible for the
manufacturing and distribution of cannabis edible products to its
delivery customer base. Additionally, BudCars is being
granted rights to manufacture and distribute products, based on the
technologies, within the state of California, under BudCars'
existing cannabis licenses.
Jimmy Chan, CEO of
Sugarmade commented, "This agreement is important for a number of
reasons. First, we believe the Cannabis Global Inc technology
set is superior to everything else we have seen. This will
allow BudCars to produce ultra-premium products for its growing
customer base. Second, this agreement is an important
additional step relative to opportunistic margin expansion
opportunities for BudCars through selective vertical integration
and brand internalization. Additionally, the agreement allows
BudCars to expand its marketing efforts in the fast-growing
cannabis edibles sector. While sales across the board for
BudCars have been up significantly since the COVID-19-related stay
at home orders, sales of edibles have been especially strong. We
welcome Cannabis Global Inc (MCTC)
to the BudCars and Sugarmade families."
Cannabis Global Inc
(MCTC)
has recently announced several innovations in the field of
cannabinoid infusion especially relating to its Hemp You Can Feel™
infusion technologies. In total, the Company has recently filed six
patents on cannabinoid extract technologies and delivery systems.
The company is currently working with patent counsel to protect
various other aspects of its other new technologies. As previously
announced, the Company plans to continue other areas of delivery
systems research including its programs pertaining to cannabinoid
glycosides, polymeric cannabinoid nanoparticles and nanofibers, and
its hemp extract-based alcohol replacement technologies.
About Cannabis
Global, Inc.
Cannabis Global,
Inc. (MCTC)
is a
Nevada registered, fully reporting and audited publicly-traded
company. With the hemp and cannabis industries moving very quickly
and with a growing number of market entrants, Cannabis Global plans
to concentrate its efforts on the middle portions of the hemp and
cannabis value chain. The Company plans to actively pursue R&D
programs and productization for exotic cannabinoid isolation,
bioenhancement of cannabinoids and polymeric solid nanoparticles
and nanofibers for addition into consumer products and for dermal
application. The Company was reorganized during June of 2019 and
announced its intent to enter the fast-growing cannabis sector. The
Company is headed and managed by a group of highly experienced
cannabis industry pioneers and entrepreneurs.
About Sugarmade,
Inc.
Sugarmade, Inc.
(OTCQB:
SGMD) is a product and branding marketing company investing in
operations and technologies with disruptive potential. Brand
portfolio includes CarryOutsupplies.com, SugarRush™ and
Budcars.com. For more information please reference
www.Sugarmade.com
More information on the Company
can be viewed at www.CannabisGlobalinc.com.
For more information, please
contact:
Arman Tabatabaei
IR@cannabisglobalinc.com
Forward-looking
Statements
This news release contains
"forward-looking statements" which are not purely historical and
may include any statements regarding beliefs, plans, expectations
or intentions regarding the future. Such forward-looking statements
include, among other things, the development, costs and results of
new business opportunities and words such as "anticipate", "seek",
intend", "believe", "estimate", "expect", "project", "plan", or
similar phrases may be deemed "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995. Actual results could differ from those projected in any
forward-looking statements due to numerous factors. Such factors
include, among others, the inherent uncertainties associated with
new projects, the future U.S. and global economies, the impact of
competition, and the Company's reliance on existing regulations
regarding the use and development of cannabis-based products. These
forward-looking statements are made as of the date of this news
release, and we assume no obligation to update the forward-looking
statements, or to update the reasons why actual results could
differ from those projected in the forward-looking statements.
Although we believe that any beliefs, plans, expectations and
intentions contained in this press release are reasonable, there
can be no assurance that any such beliefs, plans, expectations or
intentions will prove to be accurate. Investors should consult all
of the information set forth herein and should also refer to the
risk factors disclosure outlined in our annual report on Form 10-k,
our quarterly reports on Form 10-Q and other periodic reports filed
from time-to-time with the Securities and Exchange Commission. For
more information, please visit www.sec.gov.
SOURCE: Cannabis Global,
Inc.