VANCOUVER, BC --(Marketwired - November 22, 2016) - NeutriSci International Inc. (the "Company" or "NeutriSci") (TSX VENTURE: NU) (FRANKFURT: 1N9) and Lexaria Bioscience Corp. ("Lexaria") (CSE: LXX) (CSE: LXX.CN) are pleased to announce the signing of a Memorandum of Understanding forming a 50/50 Joint Venture (the "JV") to develop and produce a line of healthy edible cannabinoid products using Lexaria's patented technology and NeutriSci's proprietary pterostilbene tablet formula and to distribute the products through NeutriSci's international distribution network.
This JV will test and develop cannabinoid formulations based on NeutriSci's proprietary sublingual pterostilbene zero-sugar tablet formula and form factor; combining Lexaria's patented technology which improves the bioavailability and taste of orally ingested cannabinoids. Under the JV, the companies will first develop its edible product using cannabidiol (CBD) derived from full spectrum hemp oil, which is legal throughout the United States, followed by further development using other cannabinoid products such as tetrahydrocannabinol (THC). The JV will ultimately commercialize these potentially unique and proprietary edible products through distribution programs with existing strategic partners.
"We were immediately intrigued when we were approached with the idea of using our sublingual tablet and form factor to create a new line of zero-sugar and dose controlled cannabinoid edible products," commented Glen Rehman, President of NeutriSci. "By combining Lexaria's technology to mask taste and increase bioavailability, this JV has all the tools to create a whole new line of healthy cannabinoid edible products, which will have high appeal with today's health conscious medicinal consumers and recreational users. Consumers and regulatory groups will seek a product that is convenient, safe, dose controlled, effective and ultimately great tasting. This new ground breaking proprietary tablet addresses all of those needs; becoming an industry leading solution in what will be a multi-billion-dollar industry. We expect to complete the JV agreement in the next 4 weeks."
"This JV is a demonstration of the rapid innovation occurring in the cannabis industry," commented Chris Bunka, CEO of Lexaria. "We are excited to work with NeutriSci; using both companies' technologies, ingredients and form factor to develop healthy cannabinoid products sold within NeutriSci's international distribution network."
Following the recent approvals for recreational use in certain US states, industry researchers have reported that the legal cannabis market could exceed $20 Billion by 2020.
On Behalf of the Board of Directors of
NEUTRISCI INTERNATIONAL INC.
Tel: (403) 264-6320
About NeutriSci International Inc.
NeutriSci specializes in the innovation, production and formulation of nutraceutical products. Established in 2009, NeutriSci is currently focussed on building sustainable sales models with Convenience, Chain Drug, and Mass Market and Supermarket retailers for neuenergy®, the Company's natural energy and focus supplement that has at its core, the beneficial effects of blueberries.
Neuenergy® contains a unique patented combination of blueberries (pterostilbene) and naturally derived caffeine, and is a revolutionary energy tab designed to deliver enhanced focus and mental clarity with no sugar, no calories and no crash associated with typical energy products. To find out more about neuenergy®, please visit www.getneuenergy.com.
About Lexaria: Lexaria Bioscience Corp. is a food biosciences company with a proprietary technology for improved delivery of bioactive compounds. Lexaria's lipophilic enhancement technology has been shown to enhance the bioavailability of orally ingested cannabinoids, while also masking taste. This technology promotes healthy ingestion methods, lower overall dosing and higher effectiveness in active molecule delivery. Lexaria's technology is patent-protected for cannabidiol (CBD) and all other non-psychoactive cannabinoids, and patent-pending for Tetrahydrocannabinol (THC), other psychoactive cannabinoids, non-steroidal anti-inflammatory drugs (NSAIDs), nicotine and other molecules.
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This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
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