VANCOUVER, British Columbia , Feb. 26, 2018 (GLOBE NEWSWIRE) --
– via NetworkWire - NeutriSci International Inc. (the "Company" or "NeutriSci") (TSX-V:NU) (OTCQB:NRXCF) (Frankfurt:1N9) and Lexaria Bioscience Corp. (“Lexaria”) (CSE:LXX) (OTCQX:LXRP) are pleased to announce that they have revised their joint venture agreement such that NeutriSci now owns 100% of Ambarii Trade Corporation (“Ambarii”), and Lexaria has granted to NeutriSci, an Intellectual Property License and Supply Agreement (the “License Agreement”) for the manufacturing and sale of CBD based products.
Under the License Agreement, NeutriSci will continue the development and sales of the Company’s proprietary Sublingual mouth-melt consumer products that incorporate Lexaria’s technology for enhancing palatability and bioavailability of beneficial non-psychoactive cannabinoids in NeutriSci’s existing and pipeline product formats and Lexaria will earn ongoing royalty revenues.
“We are very pleased to announce this long-term licensing and development agreement with Lexaria,” commented Glen Rehman, NeutriSci President. “This agreement will allow NeutriSci to focus on the global distribution of our proprietary CBD product line while letting Lexaria focus on licencing and development. This change to our business relationship is a win-win for both parties.”
“The relationship between our companies has evolved in a positive fashion and allows us each to focus on our core competencies which should benefit all stakeholders,” commented Chris Bunka, Lexaria CEO. “NeutriSci has developed a unique form factor that can now be empowered with Lexaria’s complementary technology which also allows consumers everywhere to benefit.”
On Behalf of the Board of Directors of
NEUTRISCI INTERNATIONAL INC.
Glen Rehman
President
NeutriSci International Inc.
Tel: (403) 264-6320
Email: grehman@neutrisci.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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.
About NeutriSci International Inc.:
NeutriSci specializes in the innovation, production, and formulation of nutraceutical products. Established in 2009, NeutriSci’s is 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.
For more information, please visit: www.neutrisci.com.
About Lexaria: Lexaria Bioscience has developed and outlicenses its disruptive delivery technology that promotes healthier ingestion methods, lower overall dosing and higher effectiveness of lipophilic active molecules. Lexaria has multiple patents pending in over 40 countries around the world and has patents granted in the United States and in Australia for utilization of its DehydraTech delivery technology. Lexaria's technology provides increases in intestinal absorption rates; more rapid delivery to the bloodstream; and important taste-masking benefits, for orally administered bioactive molecules including cannabinoids, vitamins, non-steroidal anti-inflammatory drugs (NSAIDs), nicotine and other molecules. www.lexariabioscience.com
Statements in this press release have not been evaluated by the Food and Drug Administration. Products or ingredients are not intended to diagnose, treat, cure or prevent any disease.
Corporate Communications Contact:
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com