Vancouver-based NeutriSci International Inc (TSX-Venture:NU) is spreading its wings Thursday, on word of an agreement it made with Calgary-based LaSanta Botanicals, a privately held company, with operations in Bogota, Colombia licensed in Colombia to cultivate cannabis and to manufacture and export cannabis extracts.
NeutriSci will provide LaSanta with exclusive rights for Mexico, Central America, and South America, to utilize the NeutriSci technologies such that the latter firm can produce and market sub-lingual CBD tablets. The tablets are a quick dissolving, flavoured tablet that offer a method to provide the consumer with a measured dose of known CBD product.
Upon signing of a definitive agreement, LaSanta will pay NeutriSci a one-time licencing fee, and quarterly royalties based on the value of each unit sold.
NeutriSci CEO Glen Rehman said, “This MOU establishes the next international product manufacturing and distribution deal utilizing our patent pending technologies. Together with the Licensee (LaSanta), we are very excited to be working towards launching the first of its kind quick dissolving CBD tablet in South America.”
Shares in NeutriSci moved up the charts approaching noon ET Thursday, gaining half a cent, or 7.1%, to 7.5 cents, on volume of 136,000