MORRISVILLE, N.C., Dec. 4, 2018 /PRNewswire/ -- Pyxus International,
Inc. (NYSE: PYX), a global value-added agricultural company, today
announced that its joint venture, Criticality, an integrated
North Carolina-based industrial
hemp company operating under North
Carolina's industrial hemp pilot program, has launched
"Korent," its new line of cannabidiol (CBD) oil products.
Korent's full-spectrum oil drops are available in Vanilla Mint
and Grape flavors, in multiple sizes and concentrations. Flavors
were custom designed for hemp products in partnership with Purilum,
LLC, a leading flavor manufacturer and Pyxus-affiliated
company.
"Criticality's science-based approach to the extraction,
refinement and formulation of high-quality CBD products makes it
well positioned in the market and presents a huge growth
opportunity for both Criticality and Pyxus," said Pieter Sikkel, Pyxus' president, CEO and
chairman of the board.
Criticality specializes in environmentally-friendly,
all-natural, solvent-free supercritical fluid extraction and
purification. It recently announced the development of a CBD
production facility in Wilson, North
Carolina. The 55,000-square foot facility will be one of the
largest facilities of its kind in the state. Construction is
expected to be finalized by the end of the 2018.
"Criticality is excited about the launch of Korent and making
our products available to consumers," said Brian Moyer, CEO of Criticality. "We believe in
the efficacy of our CBD products. Given the considerable market
interest, we're proud to offer products that meet the highest
standards in the industry."
Korent products are currently available for purchase online at
www.korenthemp.com and at select retail stores. Criticality intends
to continue to launch additional products from its innovation
pipeline, including a CBD e-liquids line, topicals and other oral
products, and expand retail distribution in the coming months.
About Pyxus International, Inc.
Pyxus International
Inc. (NYSE: PYX) is a global agricultural company with 145 years'
experience delivering value-added products and services to
businesses and customers. Driven by a united purpose—to transform
people's lives, so that together we can grow a better world—Pyxus
International, its subsidiaries and affiliates, are trusted
providers of responsibly sourced, independently verified,
sustainable and traceable products and ingredients. For more
information, visit www.pyxusintl.com.
About Criticality
Criticality is an integrated
North Carolina-based industrial
hemp company that takes a science-based approach to the extraction,
refinement and formulation of high-quality, transparent industrial
hemp derived products. Criticality partners with Pyxus
International, Inc. (NYSE: PYX), a provider of responsibly
produced, independently verified, sustainable and traceable
agricultural products, ingredients and services, to source, process
and produce industrial hemp and hemp products under North Carolina's Industrial Hemp Pilot
Program.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains "forward-looking statements" as
defined in the Private Securities Litigation Reform Act of 1995.
These statements are based on current expectations of future
events. Such statements include, but are not limited to, statements
about future financial and operating results, plans, objectives,
expectations and intentions and other statements that are not
historical facts. Such statements are based on the current beliefs
and expectations of management and are subject to significant risks
and uncertainties. If underlying assumptions prove inaccurate or
known or unknown risks or uncertainties materialize, actual results
may differ materially from those currently anticipated expected or
projected. The following factors, among others, could cause actual
results to differ from those expressed or implied by the
forward-looking statements: changes in laws and regulations or the
interpretation of laws and regulations, continued compliance with
applicable regulatory requirements, uncertainties with respect to
the timing and extent of retail and product-line expansion and
uncertainties regarding the anticipated extension or expansion of
federal legislation permitting the cultivation of industrial hemp
and commercialization of hemp products, including CBD. Additional
factors that could cause results to differ materially from those
expressed or implied by forward-looking statements can be found in
Pyxus's most recent Annual Report on Form 10-K for the period ended
March 31, 2018 and the other filings
with the Securities and Exchange Commission (the "SEC") which are
available at the SEC's Internet site (http://www.sec.gov).
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SOURCE Pyxus International, Inc.