Sproutly and KCI have agreed to form a joint venture ("JV") that will utilize the proprietary APP technology to produce proprietary, natural, whole plant extracts of cannabis and hemp which will be used to formulate, evaluate, manufacture, and sell beverage and edible products. Sproutly will grant the JV a license to use the APP technology to produce and sell the products in
"Expanding the scope of the existing Sproutly-KCI relationship with this JV is a show of our successful collaboration in formulating and evaluating beverages using APP extracts. The JV will now integrate APP processing and finished product manufacturing to avoid potential issues that arise from divided manufacturing and avoid duplication of some operational expenses", said
"We are harmonizing our operations to move in stride and release next generation botanical products and packaging that will shape medicine and technology. Our combined work, detailed research, and significant experience will be critical to establishing growth within local cannabis markets as well as international medical avenues. We are excited to welcome these new ideas to fruition and materialize a successful future with our partners." Said
Sproutly is the exclusive licensee of APP technology (www.infusionbiosciences.com) to produce proprietary natural water-soluble Infuz2O and BioNatural Oils. Beverage and edible products produced using the whole plant extracts will deliver true to strain whole plant experiences to new consumers and cannabis connoisseurs alike, ushering in the Cannabis 3.0 revolution. Sproutly intends to enter into partnerships with established companies and consumer brands to market unique products that deliver cannabis and hemp whole plant experience and health and wellness benefits, in major commercial territories around the world.
For more information on Sproutly, please visit: www.sproutly.ca.
For more information on KCI, please visit: www.kingstoncannabisinc.ca
Cautionary Note Regarding Forward-Looking Statements: This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws or forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to future events or future performance and reflect the expectations or believes regarding future events of management of Sproutly. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things, timing relating to the Company's ability to complete a definitive agreement with KCI and launch Cannabis 2.0 products.
These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These assumptions, risks and uncertainties include, among other things, the Company's inability to launch or supply its Cannabis 2.0 products in
SOURCE Stone Ridge Exploration
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