VANCOUVER, BC--(Marketwired - April 10, 2017) - NeutriSci International Inc. (the "Company" or "NeutriSci") (TSX VENTURE: NU) (NRXCF) (1N9.F) and Lexaria Bioscience Corp. ("Lexaria") (CSE:LXX) (LXRP) are pleased to announce finalization of the joint venture between the companies to produce and commercialize a line of healthy, sugar-free, edible cannabinoid sublingual tablets combining NeutriSci's proprietary pterostilbene tablet form factor and Lexaria's patented technology.
The new company to be formed, Ambarii Trade Corporation ("Ambarii"), is initially being funded and owned equally by each of NeutriSci and Lexaria. NeutriSci and Lexaria are each contributing its respective technology to Ambarii by way of a license, and will split all profits derived from Ambarii operations on a 50/50 basis.
Ambarii will immediately work to secure licensees in California, Colorado and Canada, to manufacture and sell sublingual melt tablets containing THC and CBD. The products will also combine the benefits of both NeutriSci's and Lexaria's existing technologies and ingredient mixes. Initial manufacturing arrangements have been secured with a licensed entity in California which will begin large scale test runs in May, 2017 with plans to manufacture and test a fully functioning THC and CBD version of the product. In more developed legal markets such as California and Colorado, cannabis edibles often comprise 33% - 55% market share of all legal cannabis products, making high quality cannabis edibles vitally important to the marketplace.
Ambarii will also enter the hemp oil based market for sublingual melt products, which are not as highly regulated in some jurisdictions as THC-based products. Distribution for these products will be developed through NeutriSci's existing network of retail distributors as well as other methods. Initial test production runs of the hemp oil variety of pterostilbene-containing products have already achieved very positive human focus group results, as previously announced.
Glen Rehman, President of NeutriSci stated, "We are thrilled to officially partner with Lexaria. As we continue our advanced discussions with some of Canada's leading medical marijuana companies, this JV Agreement represents a giant leap forward for the development, sale and manufacturing of cannabis edibles. Ambarii will deliver an edible product that is not only highly effective, but also a healthy sugar free alternative powered by pterostilbene. The Ambarii product line will be world class, and will have high appeal to today's health conscious medicinal and recreational users."
On Behalf of the Board of Directors of
NEUTRISCI INTERNATIONAL INC.
NeutriSci International Inc.
Tel: (403) 264-6320
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This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
About NeutriSci International Inc.
NeutriSci specializes in the innovation, production and formulation of nutraceutical products. Established in 2009, NeutriSci is currently focussed on building sustainable sales models with Convenience, Chain Drug, and Mass Market and Supermarket retailers for neuenergy®, the Company's natural energy and focus supplement that has at its core, the beneficial effects of blueberries.
Neuenergy® contains a unique patented combination of blueberries (pterostilbene) and naturally derived caffeine, and is a revolutionary energy tab designed to deliver enhanced focus and mental clarity with no sugar, no calories and no crash associated with typical energy products. To find out more about neuenergy®, please visit www.getneuenergy.com.
About Lexaria: Lexaria Bioscience Corp. is a food biosciences company with a proprietary technology for improved delivery of bioactive compounds. The Company's lipophilic enhancement technology has been shown to enhance the bioavailability of orally ingested cannabinoids, while also masking taste. This technology promotes healthy ingestion methods, lower overall dosing and higher effectiveness in active molecule delivery. The Company's technology is patent-protected for cannabidiol (CBD) and all other non-psychoactive cannabinoids, and patent-pending for Tetrahydrocannabinol (THC), other psychoactive cannabinoids, non-steroidal anti-inflammatory drugs (NSAIDs), nicotine and other molecules.
Statements in this press release have not been evaluated by the Food and Drug Administration. Products or ingredients are not intended to diagnose, treat, cure or prevent any disease.