Hempsana Signs Custom Manufacturing Agreement with Cream of the Crop Therapeutics
Hempsana Holdings Ltd. (the "Company" or "Hempsana"), today announced that it has entered into a custom manufacturing agreement with Cream of the Crop Therapeutics ("Cream of the Crop"), to launch their Terpene RichTM formulated product.
Under the terms of the agreement, Hempsana has agreed to exclusively manufacture Cream of the Crop's Terpene RichTM Relief Cream. Hempsana will be responsible for providing high-quality cannabis extracts, filling, packaging, and manufacturing services. A predetermined wholesale price will be earned as a fee by Hempsana for the manufacturing, shipping, and sale of the product; in addition, a brokerage fee will be earned on monthly revenue. Cream of the Crop will receive revenue upon the sale of products to the various provincial cannabis regulators.
Cream of the Crop Therapeutics is an Ontario-based boutique brand focused on cannabis products that focuses on enhancing the lives of others by using cannabinoids and other plant components in Terpene RichTM formulations, with novel delivery systems and robust IP.
Cream of the Crop's Terpene Rich TM Relief Cream is the lead product forming a platform for a robust product line and relatable cannabis information and education.
"We are humbled to be the exclusive partner of Cream of the Crop Therapeutics to launch their top selling product." said Randy Ko, CEO of Hempsana. "We are especially excited about exposing the benefits of this wonderful product to the patients nationally through the medical sales channel which we believe is an underserved area in the sector."
"We are excited to partner with Randy and his team at Hempsana who share our values and goals ofproviding premium products that prevent, relieve, and heal." said Clive Webb, President of Cream of the Crop.
About Hempsana Holdings Ltd.
The Company's business involves the manufacturing of major and minor cannabinoid derivatives and producing cannabis extracts for use in finished products, including topical creams, vape pens and other infused consumables. Hempsana's Health Canada Standard Processing Licensed, and EU-GMP compliant facility provides the Company with access to wholesale and retail channels in Canada and internationally. Hempsana currently offers a wide range of product formats, including topicals, tinctures, salves, vape pens which can all be fortified with major and minor cannabinoids that are all manufactured by Hempsana.
This press release contains forward-looking statements and forward-looking information within the meaning of applicable Canadian and U.S. securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this press release contains forward looking statements and information concerning the business and operations of the Company. The forward-looking statements and information are based on certain key expectations and assumptions made by management, including expectations and assumptions concerning the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information. There can be no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to, general economic conditions and the state of the regulatory environment. Please refer to the Company's public record on SEDAR at www.sedar.com for more details on the risks faced by the Company. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward- looking information for anything other than its intended purpose. Management of the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
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