KELOWNA, BC / ACCESSWIRE / September 16, 2020 / Lexaria Bioscience Corp. (OTCQX:LXRP)(CSE:LXX) (the "Company" or "Lexaria", a global innovator in drug delivery platforms, proudly supports the corporate growth initiatives underway by its DehydraTECHTM licensee, Boldt Runners Corporation ("Boldt Runners", owners of the Cannadips CBD brand.
Cannadips CBD is the original and leading CBD oral pouch brand in America, and Lexaria's fast acting absorption technology is inside every tin. Boldt Runners is preparing for strong growth through its recent executive appointments, financing, and sales channel expansion. This combination is expected to lead to a large increase in sales volumes over the next 12 months.
Peter Diatelevi is appointed as Boldt Runners new CEO, bringing more than two decades of experience with Altria Corp, leading field sales and sales operations in a number of roles including Vice President Sales Operations. Maura Scott is appointed Chief Sales and Compliance Officer, and was most recently Vice President Northeast Region and led a sales team of 400 people across 13 states for Altria Corp. Case Mandel, former Boldt Runners CEO and co-founder, is now Chairman of the Board and President.
Peter Diatelevi, CEO Boldt Runners commented: "I am excited to join the Cannadips CBD brand and am truly fortunate to be working with such an amazing team and product. I have long believed that providing a viable non-tobacco and non-nicotine dip alternative for adults is an important step forward. The work Cannadips CBD has done on the development of this product is outstanding, and I look forward to working with Lexaria as we continue to develop and implement the technology."
Boldt Runners is fostering growth in sales and manufacturing. The company recently built a new state-of-the-art manufacturing facility in Humboldt County, CA that will allow for expanded production levels of cutting-edge pouching technologies, as well as for future growth. In addition, this licensed facility will soon include the capability of implementing Lexaria's DehydraTECH technologies into infused cannabinoid products.
Cannadips CBD plans continued expansion through its existing relationship with existing and future trade partners and with a strong e-commerce presence, and will be introducing new flavors throughout these networks, including planned expansions to new states.
About Boldt Runners Corporation
The Boldt Runners Corporation is based in the heart of Humboldt County, California. Boldt Runners manufacturers, markets and sells Cannadips CBD - the Original Smokeless Dip Pouch with CBD, which has been built on the same values of quality, craftsmanship, and innovation that have made the Humboldt County region world-famous. Since 2016, Cannadips CBD has been paving the way to a full flavor experience for traditional dippers without tobacco or nicotine. Cannadips CBD comes in five core flavors; American Spice, Natural Mint, Tangy Citrus, Tropical Mango, and Fresh Wintergreen and can be found in over 5,000 stores nationwide. Cannadips CBD is on a growth trajectory and is poised to provide more fantastic flavor and form options for the traditional adult smokeless tobacco consumer looking for alternatives. No tobacco, No nicotine, All flavor. For further information please check out www.cannadipscbd.com.
About Lexaria
Lexaria Bioscience Corp.'s (OTCQX:LXRP)(CSE:LXX) proprietary drug delivery technology, DehydraTECH™, improves the way active pharmaceutical ingredients (APIs) enter the bloodstream by promoting healthier ingestion methods and increasing the effectiveness of fat-soluble active molecules, thereby lowering overall dosing. The Company's technology can be applied to many different ingestible product formats, including foods, beverages, oral suspensions, tablets, and capsules. DehydraTECH increases bio-absorption by up to 5-10x, reduces time of onset from 1 - 2 hours to 10 - 20 minutes, and masks unwanted tastes for orally administered bioactive molecules, including anti-virals, cannabinoids, vitamins, non-steroidal anti-inflammatory drugs (NSAIDs), nicotine, and other molecules. Lexaria has licensed DehydraTECH to multiple companies including a world-leading tobacco producer for the development of smokeless, oral-based nicotine products and for use in industries that produce cannabinoid beverages, edibles, and oral products. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 16 patents granted and over 60 patents pending worldwide. For more information, please visit www.lexariabioscience.com.
