BevCanna Enterprises Inc (CSE:BEV) (OTCMKTS:BVNNF) and Nextleaf Solutions Ltd (CSE:OILS) (OTCMKTS:OILFF) announced Tuesday that the two companies will work together to deploy nano-delivery technology in a new line of CBD-infused beverages.
The two Canadian companies announced a partnership back in September to work together to commercialize BevCanna’s line of infused beverages using Nextleaf’s technology.
Nextleaf recently completed its acquisition of the intellectual property pertaining to the nano-delivery of cannabinoids, giving it the foundational processing methodology and two water-soluble formulations.
READ: Nextleaf Solutions and BevCanna Enterprises team up to bring cannabis-infused beverages to consumers
The company said it plans to patent its newly-acquired IP and to partner with BevCanna to develop a new patent family around infused beverages.
The IP allows consumers to feel the desired effect from cannabis-infused beverages in under 10 minutes, according to John Campbell, chief strategy officer at BevCanna. "We're eager to commercialize this innovative technology in Canada; and to act as the exclusive beverage commercialization partner, through BevCanna's branded and white-label cannabis-infused beverages."
Campbell said that the “critical driver for success” in the infused beverage space is rapid onset time. "This technology will give us a distinct advantage in the competitive cannabis-infused beverage marketplace,” he said in a statement.
"We are excited to commercialize Nextleaf's proprietary technology for the nano-delivery of cannabinoids through our partnership with BevCanna and their upcoming infused beverages," said Paul Pedersen, Nextleaf’s CEO.
BevCanna also said that it has signed an agreement with German marketing and investor relations firm Aktiencheck.de AG for a €50,000 cash payment. The agreement follows an earlier announcement that the Vancouver-based firm is teaming up with Mota Ventures Corp (CSE:MOTA) (OTCMKTS:PEMTF) on a joint venture that would allow Mota to market and sell BevCanna's CBD products in Europe.
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