SAN MATEO, Calif., Feb. 04, 2021 (GLOBE NEWSWIRE) — Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) (the “Company” or “PLUS”), a cannabis and hemp branded products company in the U.S., today announced that it has entered into a partnership with CannRx Biosciences (“CannRx”), a leading Israeli cannabis firm in the boutique field of cannabis-based botanical medicine, to enhance the onset of the Company’s products.
CannRx, operating out of their research lab in Tel Aviv, Israel, has created a solid nano-particle water soluble technology (“CannTrap”), using proteins to improve the bioavailability of cannabinoids and terpenes. CannRx has replicated the body’s natural and sophisticated protein-based transport system which facilitates delivery of active compounds through the body and tailored this process specifically for cannabinoids.
CannRx is led by Dr. William Levine, Founder and Chief Scientific Officer, who was selected by Cannabis and Tech Today as Innovator of the Year in 2019.
PLUS and CannRx intend to leverage the patented CannTrap technology to create products with more controlled onset and offset times of THC and other cannabinoids. The technology has applications across multiple form factors including gummies and beverages, and is expected to increase formulation opportunities across PLUS’s growing portfolio, reduce the dose needed for desired effect, and increase speed of onset.
“PLUS is committed to quality and innovation,” stated Dr. Levine. “The CannRx team is excited about our partnership with PLUS and we look forward to bringing innovative, high quality products to the cannabis market.”
“We are excited about the relationship with CannRx and their research team, and the opportunity to further advance the science behind our products,” stated Jake Heimark, CEO and Co-founder of PLUS. “Israel leads the way in cannabis research and the industry is ripe for innovation. We believe that consumers want to take control of how quickly they can feel the effects of cannabis. Our goal is to put them in the driver’s seat for the experience, from start to finish.”
PLUS is a hemp and cannabis food company focused on using nature to bring balance to consumers’ lives. PLUS’s mission is to make cannabis safe and approachable – that begins with high-quality products that deliver consistent consumer experiences. PLUS is headquartered in San Mateo, CA.
About CannRx Biosciences
CannRx’s mission is to develop scientifically-based, proprietary cannabis technologies in order to create reliable, repeatable, efficacy driven products. CannRx operates in the boutique field of cannabis-based botanical medicine and has developed extensive technology to analyze plant material and understand the bioactivity of the various compounds found within the cannabis plant. Utilizing this technology, CannRx has achieved a range of technological breakthroughs in optimizing cannabis extraction delivery and targeted biorelevant formulations. CannRx is driven by the concept that all its cannabis products should be “as effective as a drug and as safe as a natural product.”
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This press release includes statements containing certain “forward-looking information” within the meaning of applicable securities law (each, a “forward-looking statement”). Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur and include, but are not limited to, statements relating to: (i) the intention to leverage patented technology to create products with faster onset when consuming THC; (ii) the opportunity to further advance the science behind the Company’s products; (iii) the ability for PLUS and CannRx to bring quality and innovative products to market; (iv) the expectation that the partnership will increase formulation opportunities across PLUS’s growing portfolio, reduce the dose needed for desired effect, and increase speed of onset.
These forward-looking statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this press release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These risks include, but are not limited to, the success of the Company’s investments, the ability to retain key personnel, the ability to continue investing in infrastructure to support growth, the ability to obtain financing on acceptable terms, the continued quality of the Company’s products, customer experience and retention, the continued development of adult-use sales channels, managements estimation of consumer demand in in jurisdictions where the Company exports, expectations of future results and expenses, the availability of additional capital to complete capital projects and facilities improvements, the ability to expand and maintain distribution capabilities, the impact of competition, the ability of the Company to implement initiatives and the possibility for changes in laws, rules, and regulations in the industry. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.