Phivida Holdings Inc. (CSE: VIDA) (OTC: PHVAF) this morning
issued a corporate update for the third quarter of fiscal 2018, highlighting
the successful transition of its new senior leadership team and its progress
toward mainstream commercialization of its portfolio of products and brands.
Per the update, Phivida’s recent corporate milestones include the strengthening
of corporate governance through new appointments to its board of directors and
senior executive management team, advances in product development based on the
results of consumer insight research and the implementation of a new national
distribution strategy in the wake of positive legislative developments in the
U.S. market, among others. The company also made note of its strong balance
sheet, which includes over C$15 million in cash with no debt or loans.
“We could not be more excited about the near term as we
approach the commercialization of a newly evolved platform of CBD-infused beverages
and hemp derived oil products,” Jim Bailey, president and CEO of Phivida,
stated in the news release. “We have made great strides in the past quarter by
developing the board and executive, assigning new dedicated operational roles,
commissioning consumer research, new product and brand development and
preparing for a major shift into mainstream national distribution across the
USA. Phivida continues to focus on growth markets and lifestyle and
aspirational trends, while evolving and modernizing our strategic product mix
and brand portfolio to ensure that Phivida’s offerings resonate with current
and future consumers in key retail and clinical markets.”
To view the full press release, visit http://ibn.fm/xZnTm
About Phivida Holdings Inc.
Phivida infuses CBD derived from hemp into functional foods,
beverages and clinical health products. Phivida uses encapsulated cannabinoid
oils and extracts into water soluble form, enhancing bioavailability, and timed
released within the body. Phivida’s CBD is infused into beverages, foods and
supplements containing a proprietary blend of phytonutraceuticals studied to
target a range of health conditions, from chronic pain, treatment of stress and
anxiety to reducing inflammation in the body. The World Anti-Doping
Association’s recently lifted a ban of CBD from hemp oil and the World Health
Organization’s recent statement supports clinical benefits of CBD for athletes
and active families. Celebrating; Health and Wellness, In Harmony™, Phivida’s
vision is to lead the market as the benchmark quality standard in premium CBD
infused foods, beverages and clinical products, with a dedication to research,
education and investing back into the communities which it so proudly serves. For
more information, visit the company’s website at www.Phivida.com
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