VANCOUVER, BC / ACCESSWIRE / June 18, 2020 / Brains Bioceutical Corp ("Brains") is pleased to announce that it has signed a supply agreement with Stillcanna Inc. (OTC:SCNNF) (CSE:STIL) (FRANKFURT:A2PEWA) ("STIL" or the "Company") to supply bulk CBD for processing to their European operations. It is anticipated the initial supply agreement will reach 5 million Euros over the next 12 months.
"Stillcanna is pleased to have the opportunity to work with a company as professional and dedicated to quality as Brains," said Jason Dussault, Chief Executive Officer of Stillcanna. "As one of the few companies to have a CBD API product, Brains has reached the pinnacle of the industry and we look forward to meeting their high standards for a consistent, high quality product."
An estimated million Britons are now buying CBD products with spending exceeding £150m in the first four months of 2020 alone, according to recent media sources. Overall annual projections are on target to achieve revenues of £450m over the year as a whole, which represents 50% growth compared to 2019. With Brains being one of the few certified phyto-cannabinoid CBD API manufacturers in Europe, the company is set to lead the charge.
Brains recent landmark accomplishment successfully brought forward Brazil's first registered medical cannabis product in partnership with a leading South American Pharma Corp under the new regulations that ANVISA put in place in December of 2019. Brains is leading the category in bulk plant-based CBD API for the pharma industry. Furthermore, recent global events have increased the demand for our high-quality pure CBD wellness and Nutra products, especially those that focused on immunity.
"Brains line of wellness products are currently the only wellness products on the market with CBD API, including sprays, capsules, balms, skin creams, and other topicals, which gives rise to additional demand pressures for our products," said Ricky Brar, CEO and Chairman of Brains. "Our team of CPG executives and scientists have successfully positioned Brains and its product as an emerging market category leader in the hyper-growth category of CBD in Europe."
Brains is also pleased to announce it has begun its Novel Food Application and has hired an award-winning global consulting firm with a specialty in Novel Food applications. Brains is ready to submit its active ingredients for both stability and toxicology. As required within certain EU markets Brains intends to have its Novel Food Application validated prior to the March 2021 deadline and remain market-compliant in 2021 and beyond.
About Brains Bioceutical Corp.
Brains Bioceutical Corp is a global leader in pharmaceutical, wellness, athletics and veterinary cannabidiol (CBD) based Active Pharmaceutical Ingredient (API) production for commercial use. Our roots lie in nature, the place where exceptional is found. We are one of nine companies in the world to possess the API designation under Eudra GMPD and one of three in the world certified to produce from a natural, plant-based source. Our CBD API product lines are THC-free, non-GMO and produced in wholly-owned BSPG Laboratories in the UK. Forever advancing and enriching, Brains is involved in international clinical trials, including a phase 3, double-blind clinical trial using CPB API for treatment of refractory epilepsy, exclusively supplied by Brains Bioceutical. ALTIS / Brains Bioceutical Living Lab, a state-of-the-art, interdisciplinary athletics training facility, explores, experiments, and evaluates the power of CBD API in elite athletes. With a rare hybrid of pharmaceutical and consumer goods executives, the Brains Bioceutical senior management team works with the science of nature, never against it, extracting its power to help make better.
About Stillcanna Inc.
Stillcanna Inc. (CSE:STIL) www.stillcanna.com is a Canadian early-stage life sciences company focused on large scale CBD extraction in Europe. The Company feels its proprietary intellectual property allows it to extract CBD at a lower cost. The Company recently completed the acquisition of Olimax NT SP. Z .O.O, a multi-generational hemp agricultural firm that is expected to increase the Company's market share in the European CBD industry.
CAUTIONARY STATEMENT: This news release contains forward-looking statements or forward-looking information ("forward-looking statements") within the meaning of securities laws. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. All statements, other than statements of historical fact, in this news release are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance are not statements of historical fact and may be forward-looking statements. Risks, uncertainties and other factors involved with forward-looking statements could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements in this news release are reasonable, there can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The forward-looking statements included in this news release are made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities laws.
SOURCE: Brains Bioceutical Corp.
View source version on accesswire.com: