New York, New York (NetworkNewsWire) – Canopy Growth Corporation
("Canopy Growth" or the "Company") (TSX: WEED) and Skinvisible
Pharmaceuticals, Inc. ("Skinvisible") (OTCQB: SKVI), a research and
development company with a patented drug delivery system, today
announce they have signed a definitive license agreement for
Skinvisible's patented topical formulations. Per the agreement,
Canopy Growth is exclusively licensed to distribute Skinvisible's
topical products in Canada, and shall have a first right of refusal
for all other countries, excluding China and the United States.
The agreement covers two distinct product lines made with
Skinvisible's Invisicare® technology. Skinvisible will first
develop unique topical hemp-based products that will be launched by
Canopy Hemp Corporation in Canada and the United States. The
agreement also includes potential cannabis-based topical products
using the Invisicare® technology when and if federal regulations
permit CBD or THC infused topical products for sale in Canada.
"This agreement will have an immediate impact on our hemp
product lines as this proven technology can be applied to a hemp
oil product in today's regulatory environment," said Mark Zekulin,
President, Canopy Growth. "Moving forward, cannabis product
diversity will be increasingly important and this agreement
prepares us for future product opportunities on that side of our
business if and when the regulatory environment evolves."
"This agreement with Canopy Growth Corporation is a significant
milestone for Skinvisible," said Skinvisible President Terry
Howlett. "Canopy Growth is the leader and innovator in the cannabis
space with over half a million square feet of GMP-certified
cannabis cultivation, a robust hemp operation, multiple
commercialized brands in Canada, and rapid international expansion
and partnerships underway including Germany, Australia, Brazil,
Chile, Denmark and Spain. Canopy Growth is the perfect partner to
take Skinvisible's topical products globally, always in keeping
with its reputation for only pursuing federally legal
opportunities."
The demand for topically delivered cannabis is increasing,
driven by consumer awareness of its medical benefits and favorable
legislative changes worldwide. Invisicare, a technology with 14
international patents, is able to improve upon the delivery of
ingredients (i.e. CBD or THC), delivering up to 5 times more than
brand leaders.
Canopy Hemp is working hard to bring the benefits of hemp to
consumers in meaningful ways. This agreement demonstrates the value
in bridging our existing hemp assets with on trend products.
About Canopy Growth Corporation
Canopy Growth is a world leading diversified cannabis company,
offering distinct brands and curated cannabis varieties in dried,
oil and capsule forms. Through its wholly owned subsidiaries,
Canopy Growth operates numerous state of the art production
facilities with over half a million square feet of GMP certified
indoor and greenhouse production capacity, all to an unparalleled
level of quality assurance procedures and testing. Canopy Growth
has established partnerships with leading sector names in Canada
and abroad, with interests and operations spanning four continents.
The Company is proudly dedicated to educating healthcare
practitioners, providing consistent access to high quality cannabis
products, conducting robust clinical research, and furthering the
public's understanding of cannabis. For more information, visit
www.canopygrowth.com
About Skinvisible Pharmaceuticals, Inc.
Skinvisible Pharmaceuticals is a research and development company
that licenses its proprietary formulations made with Invisicare®,
its patented polymer delivery system that offers life-cycle
management and unique enhancements for topically delivered
products. Invisicare holds active ingredients on the skin for
extended periods of time, allowing for the controlled release of
actives. For more information, visit www.skinvisible.com or www.invisicare.com
Forward-Looking Statements: This press release
contains 'forward looking' statements within the meaning of Section
21A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended, and are subject to
the safe harbors created thereby. Such statements involve certain
risks and uncertainties associated with an emerging company. Actual
results could differ materially from those projected in the
forward-looking statements as a result of risk factors discussed in
Skinvisible, Inc. reports on file with the U.S. Securities and
Exchange Commission (including, but not limited to, a report on
Form 10Q for the period ending June 30, 2017).
Contact:
Jordan Sinclair
Director of Communications
Email
Contact
PH: 613-769-4196
Doreen McMorran
Skinvisible Inc.
Email
Contact
PH: 702-433-7154
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