GOLDEN, Colo. , June 15, 2023 (GLOBE NEWSWIRE) -- Panacea Life Sciences Holdings, Inc. (OTCQB: PLSH) (“Panacea” or the “Company”), a Colorado-based manufacturing, research and product development company in the natural health and wellness industry, announced today they have signed an exclusive licensing and distribution agreement with QR Joy to distribute their award winning and popular Fume disposable vape devices across the U.K. Panacea has retained Vape TV UK the largest digital media network Specially targeting the UK smoke & vape industry www.vapetv.co.uk to assist with marketing and sales.
In a recent study by Public Health England (September 2022), vaping in the U.K. is overtaking regular smoking in both young people and adults and remains a common aid used by people seeking to quit smoking. The study provided key insights into the 100% growth of the vaping industry in the U.K.:
- Smoking prevalence in England in 2021 was between 12.7% and 14.9% (depending on the survey) which equates to between 5.6 and 6.6 million adults who smoke
- Vaping prevalence in England in 2021 was between 6.9% and 7.1%, (depending on the survey) which equates to between 3.1 and 3.2 million adults who vape
- The popularity of disposable vaping products has increased among adults who vape, with 15.2% using them in 2022 compared with 2.2% in 2021
- Tank-type products remained the most popular vaping devices (used by 64.3% of adult vapers in 2022)
- Vaping products remain the most common aid used by people to help them stop smoking
Leslie Buttorff, CEO and Founder of Panacea Life Sciences, Holdings stated, “the Panacea Distribution Division is thrilled to be distributing the Fume product line throughout the U.K. as we see a tremendous opportunity to expand our strategy and diversification into the natural plant-based markets. Partnering with such a popular brand like Fume enables us to open new markets while driving revenue and shareholder value for our investment community.”
About Panacea Life Sciences Holdings, Inc.
Panacea Life Sciences Holdings, Inc. (PLSH) is holding company structured to support the life sciences and health and wellness industry. Established in 2017, PLSH is a woman-owned and woman-led company. Its subsidiary, Panacea Life Sciences, Inc. (PLS) is dedicated to manufacturing, research and producing the highest-quality nutraceutical, cannabinoid, functional mushroom, kratom and other natural ingredient products for consumers and pets. Panacea operates out of its 51,000 square foot, state-of-the-art, cGMP facility in Golden Colorado, focusing on natural plant-based extraction, manufacturing, research, testing and fulfillment services. Panacea operates in every segment of the manufacturing value chain. From cultivation to finished goods, the company ensures its products with stringent GMP standards and testing protocols employed at every stage of the supply chain. Panacea also offers the purest natural remedies within its own branded product line which includes tinctures, softgels, topicals, gummies and pet products. If you would like more information, please visit www.panacealife.com
About QR Joy
QR Joy is a Florida-based corporation renowned for patented electronic cigarette devices of the highest quality and most tantalizing flavors. With multi-million dollar brands such as Fume, a global success with consumers built on extensive market research, QR-Joy focuses on what customers want. QR Joy's years of industry experience, combined with a process that stresses continuous improvement, results in a best-in-class vape product that competes globally. There's guaranteed excellence inside when the QR Joy name is on the label. For more information, visit www.FumeVapors.com.
About Fume
Fume, an authentic QR Joy product available in over 30 smooth and delicious flavors, is the vape industry's most sought-after product. Built with the consumer in mind, Fume disposable vapes' sleek design, medical-grade technology, and increased puff capacity quickly cornered the multi-million-dollar vape market. Today, the Company boasts one of the largest consumer bases in the vaping industry, due in no small part to its cadre of innovative and popular products, including the Fume Extra, Fume Ultra, Fume Infinity, and Fume Mini. With Fume continuing to corner the market, America's vaping pastime is poised to be renamed "fuming." For more information, visit www.FumeVapors.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, risks arising from supply chain disruptions or our ability to obtain raw materials as well as similar problems with our vendors, our ability to fulfill purchase orders on a timely manner, our ability to fully collect money for our purchase orders, the risk of customers returning our products, and custos and shipping delays, as well as those risks and uncertainties described by us in our annual report on Form 10-K for the fiscal year ended December 31, 2022 under the heading "Risk Factors". Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as may be required by law.
Contact: Leslie Buttorff |1-800-985-0515
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