Naturally Splendid said that initially, its products will be distributed using a direct-to-consumer model via an online virtual storefront currently under construction. The products will also be manufactured in the US, specifically for the American market, where hemp-extracted CBD-based products are already legal.Enterprises ()(OTCQB:NSPDF) is launching a suite of commercial hemp-based cannabinoid nutraceutical products in the US early next year, the company said.
The initial launch will include micro-encapsulated hemp oil drops with high cannabidol (CBD) expression, CBD-based soaps, lip balms and skin creams, and hemp-extracted, cannabinoid-based functional beverages.
There are more than 80 cannabinoids in industrial hemp and marijuana, with one of the most prominent and sought-after known as CBD. The cannabis compound is appealing because of its non-psychoactive, anti-inflammatory and anti-epileptic effects, meaning patients can benefit without lethargy or dysphoria.
The products will be launched under a preliminary deal ‘s US subsidiary signed to license Full Spectrum Laboratories’ cannabinoid extraction and formulation technologies. Under the terms, will have the right to manufacture and sell the products developed by Full Spectrum once entering a definitive license agreement.
After the initial launch of the suite of products in early 2015, the companies will look to develop topical pain ointments, a hemp-derived CBD supplement and sun block lotions, they said.
“The opportunity to commercialize cannabinoid formulated products in the US is rapidly expanding,” said ‘s CFO Chuck Jenkins.
“The formulated cannabinoid products market in the US alone exceeded $300,000,000 US in 2013 and is anticipated to grow for the foreseeable future according to Arcview Market Research.”
Indeed, according to the 2013/2014 research, consumer interest in CBD-based products is soaring, with demand rising sharply and supplies limited due to legal and technological constraints, which keep prices elevated.
said that initially, its products will be distributed using a direct-to-consumer model via an online virtual storefront currently under construction. The products will also be manufactured in the US, specifically for the American market, where hemp-extracted CBD-based products are already legal.
None of the products will include THC, another prominent cannabinoid, with the companies focusing instead on using water-soluble cannabidiols, according to a release.
The deal with Full Spectrum was over two years in the making, with having spent this time working with Full Spectrum and the Irish entity’s sister company, Boreal Technologies, with which it already has a license agreement in North America.
A definitive license agreement with Full Spectrum is still subject to legal due diligence and TSX Venture Exchange approval.
Naturally Splendid to launch suite of CBD-based nutraceuticals in early 2015
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