- NanoSphere’s First Canadian Products Scheduled for Initial Production in April -
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES
VANCOUVER (MARCH 7, 2019)– NanoSphere Health Sciences Inc. (CSE: NSHS) (OTC: NSHSF) (“NanoSphere” or the Company) is pleased to announce work has begun on the production facility for NanoSphere’s products in Canada, based at the Delta 9 Cannabis Inc. (TSXV: NINE) (OTC: VRNDF) facility in Winnipeg, Manitoba.
“We’re working hard to get production underway in April, with the goal of getting final approval for the first sales of NanoSphere products before summer,” said NanoSphere CEO Robert Sutton. “This will be the first time our cannabis-related products will be sold outside the United States, so it’s a major and very exciting step for the Company.”
NanoSphere signed a Definitive Master Licensing Agreement with Delta 9 in January, 2019, in a deal that opens the Canadian market to NanoSphere’s groundbreaking delivery technology.
Recently awarded U.S. Patent No. 10,028,919, NanoSphere has been granted market exclusivity over the standardized delivery of cannabis through phospholipid nanoparticle technology, known as the NanoSphere Delivery Systemtm.
The two companies have begun working on the first product for Canada - an intraoral cannabis oil under the Company’s Evolve Formulas brand - containing cannabinoid nanoparticles.
Delta 9’s construction team have now constructed and put in place the proprietary Delta 9 Grow Pods, adapted to provide laboratory and production space for the NanoSphere product lines. Most of the lab equipment has arrived at the Winnipeg facility, and NanoSphere’s science team has prepared a custom formulation that meets Health Canada’s stringent requirements.
“This new product line we’re developing with NanoSphere is a key part of our strategy to become a vertically integrated cannabis company,” explains Delta 9 CEO John Arbuthnot. “We have been aggressively expanding production and our cannabis retail network, and the next logical step for us is to develop and distribute value added cannabis products that are unique to the Canadian market.”
NanoSphere’s groundbreaking delivery system works by nano-encapsulating active ingredients in phospholipid membranes for transportation through the skin and mucosa into the bloodstream within minutes. Cannabis applications of the technology into intraoral products will provide rapid results, precise dosages and high bioavailability. This cutting-edge advancement eliminates the need for inhalation or ingestion of cannabis, offering users a safer and more effective method of consumption.
Gary Symons, President of the Company’s cannabis division, NanoSphere Cannabis International, says the development of these products paves the way for an entirely new form of consumption for both medical and recreational consumers of cannabis.
“NanoSphere products provide for the first time a truly effective way to deliver medical cannabis, with precise dosage, better bio-availability, and without essentially having to ‘smoke your medicine’,” Symons said. “This will revolutionize treatment of a variety of medical conditions with cannabis, but on the recreational side we can provide a healthier alternative to smoking or vaping cannabis, that still gives you the same or better effect.”
The NanoSphere team expects to be in Winnipeg in late March and early April to facilitate the final installation of the necessary equipment, and to train Delta 9 staff in the production process. Any media representatives wishing to arrange interviews with NanoSphere personnel can do so through the contacts listed below.
On behalf of the Board
David Sutton, President and COO
Gary Symons, Exec. VP of Communications
NanoSphere Health Sciences LLC, is a biotechnology firm specializing in the creation of the NanoSphere Delivery System™, a revolutionary platform using nanotechnology in the biodelivery of supplements, nutraceuticals and over-the-counter medications for the cannabis, pharmaceutical and animal health industries, and beyond. For more information on NanoSphere, please visit http://www.nanospherehealth.com.
About Evolve Formulas
Evolve Formulas is the provider of the world's first and only scientifically proven nanoparticle delivery system in cannabis. Evolve’s pioneering product, Transdermal NanoSerum™, is a fast-acting, ultra-strength transdermal formula infused with nano-encapsulated cannabis and cannabis extracts. For more information on Evolve Formulas, visit https://www.evolveformulas.com/. Follow us on Facebook, Instagram and Twitter.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
Forward Looking Statement Caution
This news release includes forward looking statements that are subject to assumptions, risks and uncertainties. Statements in this news release which are not purely historical are forward looking statements, including without limitation any statements concerning the Company's intentions, plans, estimates, expectations or beliefs regarding the future. Although the Company believes that any forward looking statements in this news release are reasonable, there can be no assurance that any such forward looking statements will prove to be accurate. The Company cautions readers that all forward looking statements, including without limitation those relating to the Company's future operations and business prospects, are based on assumptions none of which can be assured, and are subject to certain risks and uncertainties that could cause actual events or results to differ materially from those indicated in the forward looking statements. Without limitation, these include assumptions, risks and uncertainties inherent in completing sub-licensing arrangements in the United States, Canada and abroad, product demand, production, competition and government regulation of the Cannabis industry, any and all of which may have an adverse effect on the Company’s expansion plans, sales, revenues and its financial results and condition. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward looking statements. Any forward looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward looking statements, or to update the reasons why actual events or results could or do differ from those projected in the forward looking statements, whether as a result of new information, future events or otherwise.