Herzliya, Israel and Calgary, Alberta–(Newsfile Corp. – August 11, 2020) – Innocan Pharma Corporation (CSE: INNO) (FSE: IP4) (the “Company” or “Innocan”), is pleased to announce that its wholly owned subsidiary, Innocan Pharma Ltd. (“Innocan Israel”) has entered into a manufacturing and distribution agreement (the “Agreement”) with Endless Sky Incorporated (“ESI”), a Canadian large scale Cannabis extractor based in Calgary, Alberta.
Under the Agreement, ESI will serve as the exclusive distributor of Innocan’s CBD products in Canada under a license granted by Innocan. ESI will manufacture Innocan’s CBD products at ESI’s Health Canada licensed facility in Redvers, Saskatchewan. ESI’s manufacturing and distribution rights consist of the Relief and Go CBD Spray and Cream and the SHIR Eye Serum, Face Cream and Night Cream. The Agreement conditional upon ESI receiving Health Canada’s approval no later than December 31, 2020. According to the agreement, ESI shall pay Innocan Israel a cash license fee per Product as well as royalties based on net sales of the Products by ESI.
The Agreement is for a term of 12 months and will be automatically extended for additional periods of 12 months each based on ESI achieving minimum sales targets for the previous 12 months period.
ESI is responsible for meeting all Canadian regulations and registrations.
“Endless Sky is thrilled to exclusively manufacture and distribute Innocan’s SHIR Beauty & Science skin care line as well their Relief & Go topical products in Canada, with the future potential to access additional countries where cannabis regulations permit, and terms agreed by the parties. We believe that Innocan’s patent-pending, CBD-integrated products will be some of the highest quality CBD products to enter the market to date. Israel is well known as the global leader in CBD research and Innocan is leveraging that knowledge with a team of proven experts in the cosmetics, healthcare, sports medicine, and wellness markets. Innocan’s diligent commitment to research and development and its visionary thinking has positioned both companies to be market leaders in the CBD consumer packaged goods products space. The pharmaceutical expertise of Innocan together with Endless Sky’s large extraction capacity and manufacturing capabilities will combine to bring top of the line products to market at scale and price points that will allow for wide market access. This Agreement also positions both companies for CBD deregulation, allowing Endless Sky and Innocan’s CBD products to be further scaled through national retailers at such time. We are very excited to bring these products into the Canadian market in the very near future,” says CEO of Endless Sky, Travis George.
Iris Bincovich, Innocan’s Founder and CEO, commented: “We are thrilled to have found the right party to distribute and manufacture our CBD line of products in Canada. Distributing our CBD line of products is a significant milestone for us, given the importance of Canada to the world of CBD. Collaboration with Endless Sky, one of Canada’s largest extracting companies, will allow us to enter Innocan’s revolutionary wellness brands into the Canadian market”.
About Endless Sky Incorporated:
Endless Sky Incorporated is a Canadian large scale cannabis C02 extractor focusing on Cannabinoids. Endless Sky has a Health Canada standard processing licence which allows production of consumer packaged goods with Cannabinoids as an additive.
With top of market throughput, hemp genetics breeding program, strict QA/QC standards, and EU GMP design, Endless Sky is poised to be a global leader in low cost premium active pharmaceutical ingredients for the health, wellness and beauty markets.
The Company, through its wholly owned subsidiary, Innocan Pharma Ltd., is a pharmaceutical tech company that focuses on the development of several drug delivery platforms combining cannabidiol (“CBD”). Innocan and Ramot at Tel Aviv University are collaborating on a new, revolutionary exosome-based technology that targets both central nervous system (CNS) indications and the Covid-19 Corona Virus using CBD. CBD-Loaded Exosomes hold the potential to help in the recovery of infected lung cells. This product, which is expected to be administrated by inhalation, will be tested against a variety of lung infections.