Slightly different PR from Neutrisci that is worth posting:
NeutriSci Forms Cannabinoid Joint Venture With Lexaria Bioscience
3 hours ago - ACQUIREMEDIA
VANCOUVER, BC -- (Marketwired) -- 04/10/17 -- NeutriSci International Inc. (the "Company" or "NeutriSci") (TSX VENTURE: NU) (OTCQB: NRXCF) (FRANKFURT: 1N9) and Lexaria Bioscience Corp. ("Lexaria") (CSE: LXX) (OTCQB: LXRP) are pleased to announce finalization of the joint venture between the companies to produce and commercialize a line of healthy, sugar-free, edible cannabinoid sublingual tablets combining NeutriSci's proprietary pterostilbene tablet form factor and Lexaria's patented technology.
The new company to be formed, Ambarii Trade Corporation ("Ambarii"), is initially being funded and owned equally by each of NeutriSci and Lexaria. NeutriSci and Lexaria are each contributing its respective technology to Ambarii by way of a license, and will split all profits derived from Ambarii operations on a 50/50 basis.
Ambarii will immediately work to secure licensees in California, Colorado and Canada, to manufacture and sell sublingual melt tablets containing THC and CBD. The products will also combine the benefits of both NeutriSci's and Lexaria's existing technologies and ingredient mixes. Initial manufacturing arrangements have been secured with a licensed entity in California which will begin large scale test runs in May, 2017 with plans to manufacture and test a fully functioning THC and CBD version of the product. In more developed legal markets such as California and Colorado, cannabis edibles often comprise 33% - 55% market share of all legal cannabis products, making high quality cannabis edibles vitally important to the marketplace.
Ambarii will also enter the hemp oil based market for sublingual melt products, which are not as highly regulated in some jurisdictions as THC-based products. Distribution for these products will be developed through NeutriSci's existing network of retail distributors as well as other methods. Initial test production runs of the hemp oil variety of pterostilbene-containing products have already achieved very positive human focus group results, as previously announced.
Glen Rehman, President of NeutriSci stated, "We are thrilled to officially partner with Lexaria. As we continue our advanced discussions with some of Canada's leading medical marijuana companies, this JV Agreement represents a giant leap forward for the development, sale and manufacturing of cannabis edibles. Ambarii will deliver an edible product that is not only highly effective, but also a healthy sugar free alternative powered by pterostilbene. The Ambarii product line will be world class, and will have high appeal to today's health conscious medicinal and recreational users."
On Behalf of the Board of Directors of
NEUTRISCI INTERNATIONAL INC.
Glen Rehman
President
NeutriSci International Inc.
Tel: (403) 264-6320
Email: grehman@neutrisci.com
