We were just recently mentioning how we were focusing on finding cannabis related plays that we’ve yet to discuss here on Street Register, and Skinvisible, Inc. (OTCMKTS:SKVI) is one that now fits that bill. With an agreement just announced by the company and a prominent player in the Canadian cannabis business, SKVI will begin to offer products containing derivatives of hemp; the male cannabis plant.
SKVI licenses its proprietary formulations made with Invisicare®, its patented polymer delivery system that offers life-cycle management and unique enhancements for topically delivered products. Invisicare holds active ingredients on the skin for extended periods of time, allowing for the controlled release of active ingredients.
Skinvisible, Inc. (OTCMKTS:SKVI) and Canopy Growth Corporation (TSX: WEED) announced they have signed a definitive license agreement for Skinvisible’s patented topical formulations. Per the agreement, Canopy Growth is exclusively licensed to distribute Skinvisible’s topical products in Canada, and shall have a first right of refusal for all other countries, excluding China and the United States.
The agreement covers two distinct product lines made with Skinvisible’s Invisicare® technology. Skinvisible will first develop unique topical hemp-based products that will be launched by Canopy Hemp Corporation in Canada and the United States. The agreement also includes potential cannabis-based topical products using the Invisicare® technology when and if federal regulations permit CBD or THC infused topical products for sale in Canada.
Canopy Growth is a cannabis company, offering distinct brands and curated cannabis varieties in dried, oil and capsule forms. Through its wholly owned subsidiaries, Canopy Growth operates numerous production facilities with over half a million square feet of GMP certified indoor and greenhouse production capacity. Canopy Hemp is working to bring the benefits of hemp to consumers in meaningful ways. This agreement demonstrates the value in bridging its existing hemp assets with on-trend products. The demand for topically delivered cannabis is increasing, driven by consumer awareness of its medical benefits and favorable legislative changes worldwide.
“This agreement will have an immediate impact on our hemp product lines as this proven technology can be applied to a hemp oil product in today’s regulatory environment,” said Mark Zekulin, President, Canopy Growth. “Moving forward, cannabis product diversity will be increasingly important and this agreement prepares us for future product opportunities on that side of our business if and when the regulatory environment evolves.”
“This agreement with Canopy Growth Corporation is a significant milestone for Skinvisible,” said Skinvisible President Terry Howlett. “Canopy Growth is the leader and innovator in the cannabis space with over half a million square feet of GMP-certified cannabis cultivation, a robust hemp operation, multiple commercialized brands in Canada, and rapid international expansion and partnerships underway including Germany, Australia, Brazil, Chile, Denmark and Spain. Canopy Growth is the perfect partner to take Skinvisible’s topical products globally, always in keeping with its reputation for only pursuing federally legal opportunities.” (Source: Marketwired)
While Canopy Growth Corporation (TSX:WEED) is quoted only on the Toronto Stock Exchange, we’ll still be anxious to see how its involvement will affect SKVI’s entry into the cannabis space. To paraphrase what was mentioned above, demand for cannabis and cannabis derived products, whether it be the female form in marijuana, or the male form in hemp, shows no signs of slowing down. That’s why we take every opportunity we can to look at new, related opportunities, Stay locked to Street Register for updates, and we’ll deliver important developments on SKVI as they unfold. In the meantime, if you’ve yet to sign up for our 100% free newsletter, do so now! Just enter your active email address into the box below and submit!
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in SKVI stock, short or long.