Ovation Science's Licensee Debuts Third CBD Product in US Market
Fitness Enthusiasts to Benefit with Pre and Post Work-Out Cream
VANCOUVER, Dec. 6, 2018 /CNW/ - Ovation Science Inc. (CSE: OVAT) ("Ovation" or the "Company"), a skincare research and development company with the objective to be the leader in the topical and transdermal cannabis market by leveraging its patented skin delivery technology, announces the launch of a third product in the USA by its licensee.
Ovation management has over twenty years of topical drug delivery experience and has leveraged this experience and technology to develop a series of topical and transdermal cannabis products. Ovation's products have many advantages over cannabis products that are smoked or ingested including avoiding the side-effects from smoking and eliminating the first pass effect through the liver (which reduces the amount of CBD / THC available and increasing the onset time). Today, Ovation is announcing the launch of a third product into the US market.
"Lighthouse, our US licensee and Cannabiniers our cannabis branding experts, have already successfully launched two products under the brand "BASKiN" with excellent consumer feedback. We are excited that they have now launched BASKiN Sport, the first CBD product line extension that targets the health and fitness industry as a pre and post work-out enhancer," said Terry Howlett, President of Ovation. "Our goal is for our products to become the gold-standard in the topical cannabis market, adding both revenue and creating shareholder value as we expand our distribution through our licensees globally. He added, "This product launch coincides with our new listing on the CSE under the ticker symbol OVAT; so it's been an exciting couple of weeks."
"We couldn't be happier with the market response and subsequent sell through rates of BASKiN in Nevada and California," said Tim Walters, President and COO of Cannabiniers. "In fact, Nevada Dispensaries are reporting BASKiN sales are trending just behind disposable vape cartridges by volume and ahead based upon revenue contribution, as CBD Only SKUs. Equally exciting, our BASKiN THC SKUs will begin to enter the market in December and are already trending to match vape cartridge sales based on presales."
Ovation's business model is to develop and license-out its topical and transdermal formulations to cannabis companies globally. Ovation products are unique from other infused product companies as it leverages its expertise in the pharmaceutical industry to develop highly effective, patent-protected products and has 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. Ovation's licensees currently include Canopy Growth Corporation in Canada and Lighthouse Strategies, LLC in the USA.
Ovation's strategy is to continue to assist its licensees in their territories and to expand outside of North America to other countries where cannabis infused products are approved including Europe, Australia and Latin America.
About Ovation Science Inc.
Ovation Science Inc. is a research and development company that licenses its topical and transdermal cannabis formulations made with its licensed patented Invisicare® skin delivery technology to cannabis companies globally. The technology enhances the delivery of cannabidiol (CBD) and tetrahydrocannabinol (THC) to and through the skin and is backed by twenty years of R&D and patents in eleven countries. Visit our website www.ovationscience.com or click to hear our CEO speak about Ovation and our IPO at http://ovationscience.com/proactive-investors/.
Forward-Looking Statements
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 Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE Ovation Science Inc.
Greg Werbowski, [email protected], Phone: 604-283-0903
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