Vancouver, British Columbia--(Newsfile Corp. - April 24, 2018) - Xanthic Biopharma Inc. (CSE: XTHC) is one of the latest new listings on the Canadian Securities Exchange. The term xanthic, refers to the yellow colour stage of THC oil secreted from the leaves of a marijuana plant, which is widely considered to be the ideal stage of cannabis harvest to maximize potency.
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Xanthic, through its wholly-owned operating subsidiary, Xanthic Biopharma Limited, provides valuable intellectual property to cannabis industry participants, enabling its strategic partners to produce high quality, innovative, non-combustible cannabis, and cannabis-infused products which deliver consistent THC and/or CBD levels.
The company recently filed a patent application to protect its proprietary process to powderize active ingredients in cannabis, both THC and CBD, in order to make them water soluble and significantly increase the bioavailability of the active ingredients.
The company has entered into a licensing and strategic partnership agreement with Oregon-based Avitas CBD Water, to produce and distribute CBD-infused water, co-branded with "Powered by Xanthic Solubles."
Avitas is currently seeking distribution and is planning to be in production by April 2018.
Xanthic technology delivers consistent and accurate cannabinoid dosing in preferred product formats, eliminating the inconvenience, messiness and stigma related to the smoking of Marijuana. The company is entering the commercialization stage and has developed formulations for cannabis-infused beverages, including energy and hydration drinks.
The company has signed a binding letter of intent with Green Mile Solutions LLC to develop plans to manufacture and distribute Xanthic-branded cannabis-infused products in Oregon, Nevada and Ohio. Under the definitive agreements for each state, Green Mile will facilitate the manufacturing of cannabis-infused powders in licensed facilities, utilizing Xanthic's proprietary process to create water soluble THC and CBD. Green Mile will procure sales of the finished products into the local licensed dispensary networks through existing sales and distribution channels. Xanthic-branded products are expected to be in production in each market in the second half of 2018.
Tim Moore, CEO of Xanthic, stated: "We are thrilled to have Green Mile Solutions as a strategic partner to expand our footprint in the USA. Its leadership team has tremendous strength and experience in business operations and cannabis production and handling. These three markets represent a significant increase in scale for Xanthic and represents a great addition to our existing arrangements in Colorado."
Meredith Farrow, CEO of Green Mile, added: "Green Mile Solutions is pleased to add the unique product offerings and talent to our overall team that Xanthic brings."
The company is currently raising up to $2 million through a non-brokered private placement of up to 4 million units, priced at $0.50 per unit, with each unit consisting of 1 share and one-half a warrant, with each full warrant exercisable at $0.75 for 24 months. The company intends to use the net proceeds for general working capital.
For more information, please visit the company's website at www.xanthicbiopharma.com, contact Tim Moore, CEO, at 647-966-6536 or email [email protected].
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