NanoSphere Forms Strategic Partnership to Launch Evolve Products in Mexico
December 10th, 2018
VANCOUVER, British Columbia
Agreement will bring the patented NanoSphere Delivery System™ to an emerging $5 billion cannabis market
NanoSphere Health Sciences Inc. (CSE:NSHS) (OTC:NSHSF) (“NanoSphere” or “the Company”), the biotechnology leader behind the patented NanoSphere Delivery System™, is pleased to announce the Company has signed a Letter of Intent forming a partnership with Abba Import Export S.A. de C.V., to launch Evolve’s growing product line in Mexico.
This press release features multimedia. View the full release here:
NanoSphere Health Sciences produces a range of healthy cannabis products under the Evolve trademark. (Photo: Business Wire)
The partnership was developed through NanoSphere’s Canadian-based cannabis division, NanoSphere Cannabis International Inc. (NCI). President Gary Symons says the agreement is part of NCI’s strategy to find global partners in countries where medical or recreational cannabis is being legalized. Mexico’s designated Interior Minister Olga Sanchez announced on Nov. 8 that Mexico would become the third country in the world – after Uruguay and Canada – to legalize both medical and recreational cannabis.
“We have been looking at the market in Mexico for some time, and we’ve been very fortunate to find a strong partner in Abba, with existing sales channels through the three largest pharmacy chains in the country, and their own GMP certified production facility for health supplements,” Symons explained.
This agreement marks the second licensing deal for NCI since the company was formed on Nov. 1st, 2018. The first was an agreement ceding the Master License for NanoSphere delivery technology to Delta 9 Cannabis Inc., which is currently building out its cannabis extract production facilities.
“In my opinion, NanoSphere has developed the most advanced delivery system for cannabis in the world, and this proprietary technology is allowing us to expand very quickly,” said Symons.
Julio Antonio D Miguel, President and CEO of Abba, says the upcoming partnership with NCI and Delta 9 will allow his company to take a leading role in the fast approaching cannabis market.
“As a leading distributor of health supplements in Mexico, we can see the tremendous potential for the cannabis industry,” said Ibarra. “Our goal was to secure the relationship with NanoSphere so that our company would have the exclusive right to distribute a truly revolutionary product for our customers.”
The Letter of Intent provides Abba with the exclusive Master License for NanoSphere’s cannabis and CBD products throughout Mexico, pending the signing of a definitive licensing agreement.
Under the agreement, NanoSphere will initially export its cannabis product line, Evolve Formulas to Abba from Canadian partner and Licensed Producer Delta 9 Cannabis Inc. The companies also plan to collaborate on a production facility in Mexico for dried cannabis, extracts, and NanoSphere’s various cannabis products.
NanoSphere Health’s Evolve Formula’s line, currently consists of three variations of the transdermal NanoSerum™ formula, one THC-dominant, CBD-dominant and hemp-derived CBD. All applications utilize the NanoSphere Delivery System™, for increased bioavailability, minimal wait-time and precision-metered dosing. This patented technology is the first and only advanced cannabinoid delivery system and can only be found in NanoSphere Health products.
To secure the Definitive Licensing Agreement, Abba has agreed to pay to NanoSphere a licensing fee of $400,000 USD, with those funds to be used by NCI to help complete the buildout of Abba’s production facility and distribution network. The two companies will share equally in the gross profits resulting from the sale of NanoSphere products in Mexico.
NanoSphere’s Commitment to Licensing IP
NanoSphere launched its IP licensing program in 2015 and is entertaining several licensing opportunities via a rigorous evaluation process. For more information about NanoSphere’s licensing program, please visit: https://www.nanospherehealth.com/licensing/
About NanoSphere Health Sciences LLC and NCI
NanoSphere is a biotechnology firm that developed a patented platform using nanotechnology in the biodelivery of supplements, nutraceuticals and over-the-counter medications for the cannabis, pharmaceutical and animal health industries, and beyond. NanoSphere trades on the CSE under the stock symbol NSHS. NCI is the cannabis division of NanoSphere. For more information on NanoSphere, please visit http://www.nanospherehealth.com.
About ABBA IMPORT EXPORT SA DE CV
Abba and its fabrication subsidiary Viride Laboratorios were founded in 1996 to supply high quality health products to consumers across Mexico. Abba imports only the finest quality products produced under GMP standards, and distributes through the country’s largest retail networks, including among others Walmart, Costco, GNC, and the largest pharmacy and grocery chains in Mexico.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
Forward Looking Statement Caution
This news release includes forward looking statements that are subject to assumptions, risks and uncertainties. Statements in this news release which are not purely historical are forward looking statements, including without limitation any statements concerning the Company’s intentions, plans, estimates, expectations or beliefs regarding the future. Although the Company believes that any forward looking statements in this news release are reasonable, there can be no assurance that any such forward looking statements will prove to be accurate. The Company cautions readers that all forward looking statements, including without limitation those relating to the Company’s future operations and business prospects, are based on assumptions none of which can be assured, and are subject to certain risks and uncertainties that could cause actual events or results to differ materially from those indicated in the forward looking statements. Without limitation, these include assumptions, risks and uncertainties inherent in completing sub-licensing arrangements in the United States, Canada and abroad, product demand, production, competition and government regulation of the Cannabis industry, any and all of which may have an adverse effect on the Company’s expansion plans, sales, revenues and its financial results and condition. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward looking statements. Any forward looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward looking statements, or to update the reasons why actual events or results could or do differ from those projected in the forward looking statements, whether as a result of new information, future events or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181210005194/en/
On behalf of the Board
Gary Symons, President
NanoSphere Cannabis International
Victor Goncalves, Executive Vice President
Copyright Business Wire 2018
Source: Business Wire (December 10, 2018 – 7:00 AM EST)
News by QuoteMedia
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
Follow Us on Social Media
About CFN Media Group
CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.
Disclaimer: Matters discussed on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as "expects", "will", "anticipates", and "estimates"; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief "snapshot" of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled "Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity-based compensation in the companies it writes about, or a combination of the two. For full disclosure, please visit: https://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.