Lexaria Bioscience Corp. and Cannadips CBD Announce Licensing Agreement

Lexaria Bioscience Corp. and Cannadips CBD Announce Licensing Agreement - Cannadips®

Lexaria Bioscience Corp. (OTCQX: LXRP) (CSE: LXX) (the “Company” or “Lexaria”), a global innovator in drug delivery platforms, announces that it has reached a definitive agreement to provide its patented DehydraTECHTM technology to Cannadips CBD, the Original Smokeless CBD Dip Brand. 

Cannadips CBD is America’s leading and oldest oral pouch, similar to a Snus pouch, formulated with CBD from American hemp. Each tin of Cannadips contains 15 pouches with 10mg of hemp-derived CBD per pouch, no tobacco and no nicotine, and only natural sweeteners. Lexaria, already established as the leader in the CBD oral delivery, has been working with the Boldt Runners team behind the scenes to elevate the product experience.

Lexaria’s DehydraTECH technology is perfectly suited to improve the dipping experience through its fast-acting, high absorption technology that improves the consumer experience. Because Cannadips uses terpene-rich multi spectrum oils as base ingredients, DehydraTECH is able to reduce throat irritation normally associated with some terpenes. Inferior products try to get around this problem by utilizing less efficacious CBD isolate without terpenes that lack the entourage effect derived from multi-spectrum oils.

From Humboldt County, California, Case Mandel Co-Founder and Chief Executive Officer of The Boldt Runners Corporation said “In our quest to create the ultimate smokeless, oral cannabinoid experience for our customers, we found that the DehydraTECH technology solves many challenges and propels the product forward as we pioneer this product category. Through our strong distribution partnership with Kretek International, and our family of strategic retail partners including Sheetz, Kwiktrip, and Circle K we are stoked for the DehydraTECH technology to shine through our tins.

The Cannadips brand is widely distributed: “We are currently in process of rolling out our tins nationally with Circle K and are in approximately 5,000 stores in the United States with additional distribution in Europe with our partnership with Spectrum Leaf,” continued Mandel. “We are currently in process of launching in Circle K Stores nationally and are excited to work with all of our trade partners as we begin to place the technology into production.”

“Lexaria is very happy to be working with Cannadips to create next-generation dipping products demonstrably better than any competitor product in the world today,” said Chris Bunka, Chief Executive Officer of Lexaria Bioscience Corp. “We feel that with our technology, and our team backing the Boldt Runners (Cannadips), we can continue to push the boundaries of the category in partnership even further.”

From Richmond, Virginia, Board Member of Lexaria  & Advisor to The Boldt Runners Corporation, Brian Quigley said “This combination of superior science from Lexaria and  a unique and strong branded proposition that Cannadips offers with its CBD pouch platform is a winning combination  We are excited to be developing a category of products with best in class science to provide adult consumers the simple choice of a better product and a better alternative to tobacco and nicotine.”

Lexaria and Cannadips CBD are presenting “The Cannadips Hoop House Experience” at the 2020 Tobacco Plus Expo (Booth #6162) in Las Vegas, Nevada, January 29 – 30. The experience includes an authentic Hoop House, multiple performances by Deejay Theory a pioneer at the forefront of the global “Tropical Bass” movement, and the debut of new Cannadips flavors Wintergreen, Mango, and “The Humboldt Collection” a unique twist on traditional “straight” dip flavors utilizing Terpenes.

The licensing agreement provided by Lexaria grants Cannadips CBD exclusive  rights for the US market for 10 years; a renewal option for an additional 5 years; an option to expand the licence to Europe, Mexico and/or Canada; and contains minimum performance provisions in order to maintain exclusivity.

About Cannadips CBD, manufactured by The Boldt Runners Corporation
Cannadips CBD is based in the heart of Humboldt County, California, home of the traditional Cannabis industry in the US, and built on the same values of quality, craftsmanship, and innovation that have made the region world-famous. Born in 2016 in California’s recreational market, Cannadips is paving the way as one of the most effective methods of smokeless cannabinoid dosing with the Original Smokeless CBD Cannabis Dip Pouch, and the Original Hemp CBD Dip Pouch. Cannadips CBD is distributed in select North American and European markets. For further information please check out cannadipsCBD.com and cannadips.com.

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