NanoSphere Receives First Export Order for CBD Hemp Products From Abba Imports in Mexico
February 6, 2019
DENVER–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24NSHS&src=ctag” target=”_blank”gt;$NSHSlt;/agt;–NanoSphere
Health Sciences Inc. (CSE: NSHS) (OTC: NSHSF) (“NanoSphere” or “the
Company”) has for the first time received an order to export its
patented Evolve Formulas CBD Hemp transdermal NanoSerum™.
The initial order is for 60,000 units of the Company’s Evolve Formulas
CBD Hemp transdermal NanoSerum™. The order comes from Abba Import Export
S.A. de C.V. (Abba), one of the premiere distributors of health and
wellness products in Mexico. Abba is a large supplier for the top
retailers in the country, including the top national pharmacy and
grocery chains, Walmart, Sam’s Club, and Costco.
Abba also signed in December 2018 a Letter of Intent to become
NanoSphere’s exclusive partner for CBD and cannabis-related products,
when cannabis becomes legal in Mexico over the coming year. Abba has
decided to immediately begin distributing NanoSphere’s CBD Hemp
products, given the strong and growing demand for high-quality CBD
products in Mexico.
“People in our country have seen the positive health effects of CBD for
things like joint and muscle pain or inflammation,” explained Julio
Antonio D Miguel, President and CEO of Abba. “NanoSphere’s products are
unique in that their nanotechnology allows the CBD to be delivered
directly through the skin to the affected area. “We are very excited to
bring this exciting health technology to our customers in Mexico for the
first time.”
The Evolve Formulas transdermal NanoSerum™ is produced by NanoSphere in
Colorado and currently sold only in the United States. The order from
Abba marks the first time NanoSphere will export its products. “We are
very excited to enter this new phase of the Company’s growth with our
close partner in Mexico,” said NanoSphere CEO Robert Sutton. “We have
been incredibly impressed with the quality of their production
facilities and the professionalism of their sales and marketing team.“We
feel this initial distribution of our CBD products is an excellent first
step in growing our partnership and our global business.”
The CBD industry is among the fastest growing in the world today, with
cannabis research firm the Brightfield Group estimating the market will
grow from roughly $500 million USD in 2018 to $22 billion in 2022. While
cannabis is illegal federally in the US and many other countries, CBD
can be produced from hemp, which was exempted from the Controlled
Substances Act by the 2018 Farm Bill.
NanoSphere’s CBD products under its Evolve Formulas brand are unique, as
the Company holds patents for the process by which CBD and various
cannabinoids can be delivered through the skin or mucous membranes using
NanoSphere’s proprietary nanotechnology. Evolve’s pioneering CBD and
cannabis products are a fast-acting, ultra-strength transdermal formula
infused with nano-encapsulated cannabis or CBD extracts.
The order from Abba initiates a process required for registration of
Evolve Formulas products in Mexico through the Comisión Federal para la
Protección contra Riesgos Sanitarios (COFEPRIS), which is responsible
for regulating health-related regulations in Mexico, including those for
food safety, health products and medical devices.
Registration with COFEPRIS, known in English as the Federal Commission
for the Protection Against Sanitary Risks, is in process and is required
prior to the shipping of NanoSphere products to Mexico.
On behalf of the Board
Robert Sutton, CEO
NanoSphere Health Sciences Inc.
About NanoSphere
NanoSphere Health Sciences LLC, is a biotechnology firm specializing in
the creation of the NanoSphere Delivery System™, a revolutionary
platform using nanotechnology in the biodelivery of supplements,
nutraceuticals and over-the-counter medications for the cannabis,
pharmaceutical and animal health industries, and beyond. For more
information on NanoSphere, please visit http://www.nanospherehealth.com.
About Evolve Formulas
Evolve Formulas is the provider of the world’s first and only
scientifically proven nanoparticle delivery system in cannabis. Evolve’s
pioneering product, Transdermal NanoSerum™, is a fast-acting,
ultra-strength transdermal formula infused with nano-encapsulated
cannabis and cannabis extracts. For more information on Evolve Formulas,
visit https://www.evolveformulas.com/.
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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. Forward Looking Statements in this release include the
prospect that 4Evergrn LLC will complete the Licensing Agreement as
contemplated in the Memorandum of Understanding, and failure to do so
could affect the outcome expected from this Agreement. 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.
Contacts
Investor Contact:
Victor Goncalves, Executive Vice President
Mobile:
204-997-5517
E-mail: vgoncalves@NanoSpherehealth.com