Pressure Biosciences Inc (PBIO)

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$PBIO Pressure BioSciences Announces Contract for October 2022 Launch of Breakthrough Hemp-Derived CBD Product, Estimating $2 Million Incremental 2023 Revenue

https://www.accesswire.com/712609/pressure-biosciences-announces-contract-for-october-2022-launch-of-breakthrough-hemp-derived-cbd-product-estimating-2-million-incremental-2023-revenue

Canopy CBD Farms, with Multiple Sales Channels and Industry Contacts Nationwide, Partners with PBI to Commercialize Revolutionary Hemp-Derived CBD Product, Offering Unparalleled Topical Effectiveness

SOUTH EASTON, MA / ACCESSWIRE / August 18, 2022 / Pressure BioSciences, Inc. (OTCQB:PBIO) ("PBI" or the "Company"), a leader in the development and sale of broadly enabling, pressure-based instruments, consumables, and specialty testing services to the worldwide nutraceuticals, biotechnology, cosmetics, and food & beverage industries, today announced the execution of a manufacturing, sales, and distribution agreement with Canopy CBD Farms, LLC ("CCF"), a Massachusetts licensed processor/manufacturer/distributor of hemp-derived CBD products and processing equipment. CCF, with a strong focus in the Massachusetts/New England hemp-derived CBD market and with hundreds of industry connections nationwide, has assembled an aggressive distribution plan that anticipates nano-CBD product sales (both in bulk and end-user packaging) of nearly $6 million over the first 12-months post-release. Under GAAP rules/standards, PBI believes it will capture approximately $2 million of CCF's expected product revenue.

PBI recently announced the commercial launch of its patented Ultra Shear Technology™ ("UST™") nanoemulsion processing platform. The Company will manufacture and sell - through a tolling processing center located in their South Easton MA facility - revolutionary, effectively water-soluble, hemp-derived nanoemulsions, in bulk format. PBI's USDA compliant nano-CBD is expected to introduce a new generation of precise and efficient CBD dosing in a wide variety of shelf-stable, clean-label (containing no chemical preservatives) products, encompassing the nutraceuticals, personal care products, cosmetics, and food/beverage markets, to name a few. Following production at PBI, bulk nano-CBD product will be sent to CCF or its designated production facility, where it will be vialed and labelled, and then made available for sale. CCF also plans to sell bulk nano-CBD product to other manufactures for use in their own product line ("white labelling").

Mr. John Westlake, Founder and President of CCF, explained, "There is an enormous unmet need in the hemp-derived CBD marketplace for USDA-compliant products manufactured from high quality, highly water soluble nanoemulsions containing only natural ingredients. This is what has now been uniquely enabled by PBI and their patented UST nanoemulsification platform. Frankly, this is exactly what I have been waiting for: a line of plant-based, hemp-derived CBD products that contain no artificial ingredients, while achieving breakthroughs in effectiveness and long-term stability.

Mr. Westlake continued: "Using the sales and distribution channels that I have spent years developing, augmented with my vast number of contacts in the industry, I am confident that USDA-compliant nano-CBD products processed by PBI's UST platform, will not just sell well, but will set new standards of performance that others will struggle to meet. I expect that CCF's first year revenue projection of $6 million will be mostly generated in New England, with major additional revenue growth to follow as we expand distribution throughout the rest of the U.S."

Mr. Kenneth F. Micciche, Director of Business Development at PBI, commented: "Our PBI team is incredibly excited as we now transition into production of UST-based products and what we believe will be impressive and highly profitable product revenues in late 2022, then accelerating into 2023 and beyond. Our team has demonstrated focus, commitment, and resolve in completing the development of a world-class, patented method for processing hemp-derived CBD into the highest quality, commercial grade nanoemulsions available today. This achievement allows PBI to immediately begin to work with CCF to help them leverage their impressive industrial network and connections to dispensaries, eCommerce, and other channel partners, as they use the UST competitive advantage to drive revenue growth in this estimated $16.6 billion market."

Mr. John B. Hollister, PBI's Director of Marketing and Sales, concluded: "Our partnership with CCF demonstrates more broadly PBI's commitment to diverse customers seeking innovative, effectively water-soluble delivery of important oil-based products that actually meet and exceed the high levels or performance expected by today's sophisticated consumers. The CCF and the two other product agreements announced recently are collectively expected to generate an estimated $4 million in incremental revenue for PBI in 2023 - and we expect to announce even more significant contracts shortly."

PBI Quarterly Investor Call: Thursday, August 18, 2022

The teleconference will include a Company presentation followed by a Question & Answer period. Date: Thursday, August 18, 2022. Time: 4:30 PM Eastern Time (ET). To attend this teleconference, live by telephone: Dial-in: [phone] (North America); [phone] (International). Verbal Access Code: 264516 (or say PBI Q2 Conference Call). For those unable to participate in the live teleconference, a replay will be available beginning Friday, August 19, 2022. The replay will be accessible via telephone and PBI's website for 30 days. Replay Number: [phone] (North America); [phone] (Int'l); Replay Passcode: 46409.