- InnoCan Pharma’s (INNO) Israeli subsidiary has entered a manufacturing and distribution agreement with cannabis extractor, Endless Sky Inc
- Under the agreement, Endless Sky will manufacture and distribute InnoCan’s CBD cosmetic products in Canada
- The agreement covers products including Relief & GO CBD Spray and Cream, SHIR Eye Serum, Face Cream, and Night Cream
- Endless Sky will pay InnoCan Israel a cash license fee per product, plus royalties based on product sales
- InnoCan Pharma (INNO) is up 4.55 per cent and is currently trading at C$0.23 per share
InnoCan Pharma’s (INNO) Israeli subsidiary has entered a manufacturing and distribution agreement with cannabis extractor, Endless Sky Inc.
Endless Sky is a large-scale cannabis CO2 extractor, based in Calgary, Alberta. The company’s standard processing licence from Health Canada allows it to produce consumer packaged goods with cannabinoid additives.
Under the agreement, Endless Sky will manufacture and distribute InnoCan’s CBD cosmetic products in Canada. The products will be made at Endless Sky’s Health Canada-licensed facility in Redvers, Saskatchewan.
Under a license granted by InnoCan, Endless Sky will act as the exclusive distributor for specific products.
The agreement gives Endless Sky manufacturing and distribution rights to a range of CBD-infused cosmetic products. These include the Relief & Go CBD Spray and Cream, the SHIR Eye Serum, Face Cream, and Night Cream.
Endless Sky will pay InnoCan Israel a cash license fee per product, plus royalties based on product net sales.
InnoCan Israel and Endless Sky’s agreements depends on the latter receiving Health Canada’s approval by December 31, 2020. The agreement will have a one-year term but will be automatically extended for another year each time Endless Sky achieves minimum sales targets.
InnoCan’s founder and CEO, Iris Bincovich, commented on the company’s agreement with Endless Sky.
“We are thrilled to have found the right party to distribute and manufacture our CBD line of products in Canada.
“Distributing our CBD line of products is a significant milestone for us, given the importance of Canada to the world of CBD.
“Collaboration with Endless Sky, one of Canada’s largest extracting companies, will allow us to enter InnoCan’s revolutionary wellness brands into the Canadian market,” she said.
InnoCan Pharma (INNO) is up 4.55 per cent and is trading at C$0.23 per share at 11:44am EDT.