- Sproutly’s groundbreaking discovery of naturally water-soluble cannabinoids is projected to be a disruptor in the emerging cannabis beverage and edibles market
- Chief Science Officer Dr. Arup Sen leads the company’s research and development team, which has created 44 different formulations to date
- The company has entered into an exclusive joint venture with Moosehead Breweries Limited to develop and produce nonalcoholic, cannabis-infused beverages
Sproutly Canada Inc. (CSE: SPR) (OTCQB: SRUTF) (FRA: 38G) is advancing its core mission of becoming the leading supplier of water-soluble cannabis solutions and bio-natural oils for beverages and edibles by meeting several key milestones. The company’s chief science officer, Dr. Arup Sen, reviewed recent accomplishments in an interview with InvestorIdeas.com that featured the company’s technological breakthrough in producing and formulating the first natural, truly water-soluble cannabis solution (http://cnw.fm/uPEk7).
“We will be pretty much standing alone in the field of making beverages that will include natural chemicals in their natural state from cannabis and hemp plants,” Sen stated in the interview. “We have created about 44 different formulations, many of which have already gone through the stability testing, both in cans as well as bottles, because, at this point we don’t know how the regulations will turn out. We would prefer glass bottles, because of the clear solution nature of our beverages which will stand out in a glass bottle.”
Deloitte estimates that, as Canada imposes new legislation on October 17, 2019, targeting cannabis and cannabis concentrates in the edibles and beverages sectors, a new $2.7 billion per year market that is expected to generate higher profits for retailers will be created (http://cnw.fm/1rNaQ). Deloitte’s report, titled ‘Nurturing new growth: Canada gets ready for Cannabis 2.0’, indicates that the new legislation will likely attract consumers who have been reluctant to try traditional cannabis consumption methods.
“The edibles market alone is estimated to be worth at least $1.6 billion a year in Canada, with cannabis-infused beverages adding a further $529 million,” Jennifer Lee, a partner and Deloitte Canada’s Cannabis National Leader, and Consumer Advisory and Analytics Practice National Leader, stated in the report. “According to our research and stakeholder interviews, much of this economic boost will be on top of current cannabis product spending.”
Sproutly’s acquisition of Infusion Biosciences and its Aqueous Phytorecovery Process (“APP”) technology, which extracts water-soluble forms of cannabinoids for inclusion in beverages and edibles, came with exclusive rights to APP technology in Canada, Australia, Israel, Jamaica and the EU. Sproutly CEO Keith Dolo described the company’s premium offering, Infuz2O, as “the world’s first and only, truly water-soluble cannabis solution” for formulation into beverages.
“APP technology is a low-cost, gentle method to produce Infuz2O, a groundbreaking discovery that delivers the total effects of the strain of cannabis from which it is made; on-set effects start within approximately 5 minutes and dissipate within approximately 90 minutes,” Dolo stated in a news release (http://cnw.fm/Fd8fJ).
A joint venture between Sproutly and OCC Holdings Ltd., an affiliate of Moosehead Breweries Limited, one of Canada’s oldest and largest independent breweries, will utilize the Infuz2O water-soluble cannabis formulation to create a truly natural cannabis beverage experience that serves as an alternative to alcoholic products.
“This partnership with Moosehead marks an important milestone in Sproutly’s mission of delivering a safe and consistent whole plant experience from cannabis, with a lead position in the beverage market,” Dolo stated in a news release announcing the joint venture (http://cnw.fm/0Npcs).
Sproutly executives recently shared details of the APP process at the Canaccord Genuity Third Annual Cannabis Conference and at the Cannastocks 2019 Q1 Investor Conference, both of which were in New York City (http://cnw.fm/2wT3D).
For more information, visit the company’s website at www.Sproutly.ca
NOTE TO INVESTORS: The latest news and updates relating to SRUTF are available in the company’s newsroom at http://cnw.fm/SRUTF
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