NanoSphere Signs Definitive Licensing Agreement in Oregon
February 20, 2019
Partnership with Cascade Pure Brings Disruptive Evolve Formulas
Technology to $550 Million Oregon Cannabis Market
DENVER–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24NSHS&src=ctag” target=”_blank”gt;$NSHSlt;/agt;–NanoSphere
Health Sciences Inc. (CSE:NSHS) (OTC:NSHSF) (“NanoSphere” or “the
Company”) is pleased to announce the signing of a definitive Licensing
Agreement with Oregon cannabis company Cascade Pure, LLC. The Agreement
gives Cascade Pure the exclusive right to produce and distribute Evolve
Formulas products in the State of Oregon.
NanoSphere Health Science’s cannabis line, Evolve Formulas, utilizes a
patented method of nano-encapsulating cannabis molecules in a lipid
membrane so they can be transported through the skin or mucosa to the
bloodstream in minutes. Evolve products are currently available in
dispensaries across Colorado and are coming soon in California, Arizona,
Oklahoma, Canada and Mexico.
“Our Company’s strategy is to partner with cannabis producers who are
dedicated to an exceptionally high, pharmaceutical-grade standard of
production,” said NanoSphere CEO Robert Sutton. “Cascade Pure is a
perfect fit for us, as they are building a state-of-the-art facility,
and are very much a science-based company developing science-based
solutions.”
The Cascade Pure facility is being completed in Bend, Oregon, and
features a vertical farming system developed by Smart Grow Systems (www.smartgrow.systems).
Cascade Pure is also acquiring the rights to a top quality genetics
(seed) library, which Sutton says will help NanoSphere develop new
cannabinoid product lines in future.
Cascade Pure CEO Edward Bonn says the NanoSphere agreement is a
cornerstone of his company’s growth strategy in the Oregon market.
“There are a lot of producers generating an over-supply of cannabis in
the Oregon market, which puts downward pressure on prices over the long
term,” Bonn says. “NanoSphere’s Evolve Formulas patented products are
fully developed, completely unique in the global market, and are very
difficult for anyone else to reproduce. This gives us a huge advantage
in the market and separates us from the crowd as the exclusive supplier
of Evolve products.”
NanoSphere has developed three next generation nanoparticle delivery
platforms. The first is a transdermal serum that can be applied to the
skin to treat pain and inflammation in the joints and muscles and which
does not have a psychoactive effect on the user.
The second is an intraoral product that allows cannabis to penetrate the
mucosal membrane in the mouth for delivery directly to the bloodstream,
providing much faster onset, precise dosing, and an effect closer to
that of smoking or vaping.
The third is an intranasal spray that delivers cannabinoid
nanoparticles, or ‘nanospheres’, directly to the brain via the
transgeminal nerve. The Evolve spray provides virtually instant onset
and very precise dosing for both medical and recreational use.
“There is no other way I know of to get the full entourage effect of
cannabinoids and terpenes without smoking or vaping, but NanoSphere has
solved that problem with a product that is unique in the market,” said
Bonn. “This is a truly disruptive technology, and we will be the sole
provider of that technology in Oregon.”
Under the agreement, Cascade Pure and NanoSphere will each receive 50
percent of the gross profit from the sale of Evolve Formulas products.
The initial term of the agreement is 36 months, and is automatically
renewable barring a significant breach of the Agreement by either party.
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 bio delivery 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 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.
Contacts
On behalf of the Board
Robert Sutton, CEO
Office:
(720) 845-1465
E-mail: rsutton@nanospherehealth.com
Investors:
Victor Goncalves, Executive Vice President
Mobile:
204-997-5517
E-mail: vgoncalves@nanospherehealth.com