Lexaria Bioscience Corp. (OTCQX: LXRP) (CSE: LXX) (the “Company” or “Lexaria”), a global innovator in drug delivery platforms, announces that it has reached a new definitive agreement to provide its patented DehydraTECHTM technology to Cannadips’ cannabis products, both in its current California market, and across all of the US.
Cannadips Cannabis Tins are currently sold in California formulated with THC from cannabis. Each tin of Cannadips Micro-Dose contains 15 pouches with 10mg of cannabis-derived THC per pouch, no tobacco and no nicotine, and only natural sweeteners. The Cannadips High-Dose tin contains 15 pouches and 20mg of cannabis derived THC per pouch. Cannadips recently executed a price adjustment to $14.99 and $24.99 respectively per tin MSRP plus tax in California in order to better align consumer expectations on price with product modality.
Lexaria’s DehydraTECH technology is perfectly suited to improve the dipping experience through its fast-acting, high absorption technology that improves consumer satisfaction. Cannadips THC uses terpene-rich multi spectrum oils as base ingredients and DehydraTECH is able to reduce throat irritation normally associated with some terpenes. Inferior products try to get around this problem by utilizing less efficacious cannabis isolate without terpenes that lack the entourage effect derived from multi-spectrum oils.
“This agreement further solidifies our relationship together with Lexaria Bioscience. Now that the Cannadips brand is powered by Lexaria completely we are now able to partner with operators in other states and bring our cannabis technology across state lines. Our cannabis oral pouch and dip research facility in Humboldt is going to be the first of its kind in our brand new 4,000 square foot facility. We are also highly interested in activating the Canadian Oral Pouch Cannabinoid market,” said Case Mandel Co-Founder and Chief Executive Officer of Cannadips Cannabis.
In 2018, Cannadips Micro-dose and High-dose cannabis pouches won the California Cannabis Awards for Product of the Year and the new 4,000 square foot oral cannabinoid research and development facility in Arcata, California will house the corporate offices as well as manufacturing, distribution, and a retail experience.
“Lexaria is building a stronger relationship with the Cannadips brand and applying DehydraTECH to Cannadips cannabis represents our latest advance,” said Chris Bunka, Chief Executive Officer of Lexaria Bioscience Corp. “Our DehydraTECH technology empowers a scalable supply chain across state lines for our cannabis brand licensees. We are excited that Cannadips is interested in activating the Lexaria technology in additional key state markets that are either recreational or medical cannabis states, while preserving the brand rights as states come online through regulation.”
The CEO’s of Cannadips and Lexaria gave further guidance on the importance of the growing corporate relationship in a video interview HERE.
The licensing agreement provided by Lexaria grants Cannadips Cannabis exclusive rights for this product format for the US market for 10 years; an option to expand the licence to Europe, Mexico and/or Canada; and contains minimum performance provisions in order to maintain exclusivity.
About Cannadips Cannabis
Cannadips is based in the heart of Humboldt County, California, home of the traditional Cannabis industry in the US, and built on the same values of quality, craftsmanship, and innovation that have made the region world-famous. Born in 2016 in California’s recreational market, Cannadips is paving the way as one of the most effective methods of smokeless cannabinoid dosing with the Original Smokeless CBD Cannabis Dip Pouch, and the Original Hemp CBD Dip Pouch. Cannadips CBD is distributed in select North American and European markets. For further information please check out www.cannadips.com.