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Phivida Holdings Inc (OTCMKTS:PHVAF) Finalizes Brand Licensing Deal In Oregon

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Phivida Holdings Inc (OTCMKTS:PHVAF) has finalized a brand licensing deal with Nova Paths, LLC to license its proprietary cannabidiol infused functional beverages, clinical formulas and foods. Nova Paths marks as a manufacturing center based in Portland, Oregon USA. It is OLCC state approved for the supply of cannabinoid infused retail offerings.

The details

Key terms of the deal comprise a non-exclusive license of company’s proprietary trademarks and formulas for distribution and manufacturing within Oregon. In turn, Nova Paths will offer Phivida Holdings with a brand licensing unit fee to be paid on every unit offered within the OLCC marketplace. Subsequent steps in the procedure of launching Phivida branded Cannabidiol products via the Nova Paths licensing deal is to adjust Phivida Holdings’ product labels for Oregon compliance and to file these changed labels to the OLCC for nod.

Phivida plans to continue sourcing Cannabidiol hemp oil from state allowed hemp farms. The OLCC plan was recently changed to comprise co-mingling of extracts from the Oregon State Department of Agriculture allowed hemp farms. This shift offered a perfect base for Phivida Holdings to license its Cannabidiol products to a reputable state approved distributor and manufacturer like Nova Paths. Oregon state also lately permitted Cannabidiol to be packaged with alcoholic drink products, offering the potential for Phivida Holdings to advance new cannabinoid infused drink offering innovations such as Cannabidiol infused wines and beers.

As per a recent sector report, the U.S. market for hemp-based Cannabidiol is growing at 55% per annum. It is moving on a strong pace and can soon hit the $1 billion mark by 2020. In Oregon state, total sales from over 300 OLCC approved retail sites was up to $365 million in 2016. As of Q3 2017, Oregon was on track to increase sales volumes in cannabinoid infused segments by over 33% as the count of state licensed retail sites has grown to more than 500.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of MMJReporter.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure

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