New research continues to support the safety and efficacy of cannabidiols (“CBDs”) in treating a number of medical conditions. For instance, a recent study published in the Journal of Psychopharmacology found that daily treatment with CBDs led to improved wellbeing and quality of life scores among a small group of Parkinson disease patients, although a disease-modifying effect wasn’t found.
Lexaria Corporation (OTC: LXRP) (CSE: LXX) aims to bring CBD-based products to market in Canada, while potentially becoming a licensed producer under the country’s newly implemented Marijuana for Medical Purposes Regulations (“MMPR”), which would enable it to sell medical marijuana to patients throughout Canada under the guidance of Health Canada.
This week, the company announced the acquisition of a 51% interest in PoViva Corp., which uses a patent pending process to bind active CBD ingredients with lipids to enable more efficient delivery than competing products. Under the terms of the agreement, Lexaria could ultimately acquire up to 75% of the company through staged transactions, providing it with a sizable ownership stake.
ProViva owns two patents pending that govern the process used to infuse CBDs into food products. With the acquisition under its belt, Lexaria expects to launch ProViva Teas as its first CBD-infused product using its patented process as quickly as possible. Tea is the most widely consumed beverage in the world after water, with over three billion servings of tea prepared each day worldwide.
In addition to its ProViva acquisition and new product lines, the company continues to pursue its Health Canada MMPR Licensed Producer status by way of its joint venture in Burlington Ontario with Enertopia Corp. (OTC: ENRT). In light of delays in the licensing process that are out of its control, the company continues to pursue opportunities to build value in other ways.
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