Cannabis Sativa, Inc. Signs MOU for Approval, Sale, Branding and Packaging of hi Recover and hi Releaf Products
November 09, 2015 at 04:20 AM EST
MESQUITE, NV / ACCESSWIRE / November 9, 2015 / Cannabis Sativa Inc. (OTCQB: CBDS) announced today that on behalf of its wholly owned subsidiary, Hi Brands International, Inc. ("HBI"), a Nevada corporation, the Company has entered into a Memorandum of Understanding with Antoine Creek Farms ("ACF"), a Washington limited liability company. The companies are working towards a definitive agreement in connection with the approval, sale, branding and packaging of specific topical ointments for use and sale by ACF in the Washington state recreational marijuana market.
Hi Brands International's proprietary "hi" Recover and "hi" Releaf formulations, developed by Cannabis Sativa Inc. subsidiary Wild Earth Naturals, will be used for the venture. The "hi" Recover formulation will be a CBD infused topical balm containing 50 milligrams of CBD. The "hi" Releaf topical ointment will contain 50mg of CBD and 50mg of THC, and "hi" Releaf Plus topical ointment will contain 50mg CBD and 100mg THC. The infusion process will be done by Antoine Creek Farms at their licensed Washington facilities.
CBDs or "cannabidiol" are generally considered to give marijuana users specific medical effects. THC or "Tetrahydrocannabinol" is the part of the plant that helps people have the feeling of euphoria or "high." Although the science is still out, most scientists seem to coalesce around the idea that THC in small amounts is what activates or allows the CBDs to do its job.
Timothy McCormack, the CEO of Antoine Creek Farms commented, "At Antoine Creek Farms we are looking to the horizon of legal marijuana markets; part of that means forecasting and developing market demands and needs. We, along with Cannabis Sativa, Inc., believe one underserved part of this emerging market is topical ointments and even cosmetics. We are excited to help move the industry from basement laboratories to high-tech, cutting edge formulations and will sooth the word as we know it!" McCormack goes on to excitedly note, "the cosmetics industry is projected to generate 62.46 billion in U.S. dollars in 2016. Being able to add small amounts of THC and larger amounts of CBD to these skin care products represents a paradigm shift towards effective homeopathic solutions to skincare and rejuvenation."
This press release contains "forward-looking statements." Although the forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements. Readers are urged to carefully review and consider the various disclosures made by us in our reports filed with the Securities and Exchange Commission, including the risk factors that attempt to advise interested parties of the risks that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Underlying assumptions include without limitation, the ongoing enactment of legislation favorable to the production of and the commercialization of cannabis products and the Company's success in capitalizing on that legislation. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.
Timothy B. McCormack