Pivot Pharmaceuticals (CSE: PVOT) (OTCQB: PVOTF) (FRA: NPAT) this morning announced that its wholly-owned subsidiary, Pivot Naturals LLC, has entered into a binding Letter of Intent (“LOI”) with Healthcare Options for Patients Enterprises LLC, dba HOPE Cannabis Products (“HOPE”). HOPE is fully licensed to manufacture, distribute and sell cannabis products in Nevada, offering products such as effect-based vape cartridges, syringes, micro-dosed oral sprays, pre-rolls, infused pre-rolls, infused cold brew coffee and infused lemonade. Per the LOI, HOPE will manufacture and distribute Pivot Naturals’ product line in Nevada and Pivot will manufacture and distribute HOPE’s product line in California. Definitive agreements, anticipated to be completed before August 31, 2018, will include a non-exclusive license grant to HOPE to commercialize Pivot’s Ready-To-Infuse Cannabis (“RTIC”) powder technology, only in Nevada. A manufacturing agreement is anticipated as well, detailing the plans for Pivot to manufacture HOPE’s products at Pivot’s facility in Costa Mesa, California (pending receipt of appropriate licenses), and for HOPE to manufacture Pivot’s products at HOPE’s licensed manufacturing facility in Las Vegas, Nevada.
“I am thrilled that we have partnered with such an ethical and forward-thinking company. This partnership not only monetizes the RTIC technology, but validates our strategy to formulate unique and differentiated products. Dr. Rubin and his team understand our vision of creating the best science-based health and wellness biocannabis products for consumers. Upon execution of these agreements, Pivot will be well positioned to generate significant revenues in the State of Nevada, and with California coming online in Q4 2018, we now have access to two of the largest cannabis markets in the U.S,” Pivot Naturals president Patrick J. Rolfes stated in the news release.
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About Pivot Pharmaceuticals Inc.
Pivot Pharmaceuticals Inc. is a biopharmaceutical company engaged in the development and commercialization of therapeutic pharmaceuticals and nutraceuticals using innovative drug delivery platform technologies. Pivot’s wholly-owned medical cannabis products division, Pivot Green Stream Health Solutions Inc. (“PGS”), conducts research, development and commercialization of cannabinoid-based nutraceuticals and pharmaceuticals. Pivot’s wholly-owned U.S. subsidiary, Pivot Naturals, LLC, based in Costa Mesa, California, will manufacture and supply finished powderized cannabis products such as food additives, capsules, bulk powder and stick packs to the California market. PGS has acquired worldwide rights to Ready-To-Infuse Cannabis (“RTIC”) oil-to-powder technology, BiPhasix™ Dermal Drug Delivery platform technology (topical), Solmic Solubilisation technology (oral) and Thrudermic Transdermal Nanotechnology (transdermal) for the delivery and commercialization of cannabinoid, cannabidiol (“CBD”), and tetrahydrocannabinol (“THC”)-based products. For more information, visit the company’s website at www.PivotPharma.com.
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