Phivida Holdings Inc. (CSE: VIDA) (OTCQX: PHVAF), a premium
functional food and beverage company, this morning issued a response to the
U.S. Drug Enforcement Administration’s recent decision to remove cannabis
component cannabidiol from its Schedule I list of controlled substances. “We
see this reclassification of CBD in pharmaceuticals as a good sign that will
bolster the growing awareness of CBD as a substance that delivers many
benefits, and opens the door for other CBD-based treatments, in line with the
recent FDA approval of a drug to treat childhood epilepsy,” Jim Bailey,
president and CEO of Phivida, stated in the news release. “Phivida is launching
its Oki line of functional beverages which provide a spectrum of
non-psychoactive phytocannabinoids through infusion with active hemp extract.
While our Oki and Vida+ product lines are not subject to FDA approval, as we
grow to have product on shelves in all 50 states, we will benefit from the
increased acceptance of the efficacy of cannabis and hemp products.” Phivida
additionally announced the issuance of roughly 1.5 million common shares to
serve as payment for a combination of consulting services provided in regards
to an advisory on the Cannabis Beverages Inc. (“CanBev”) joint venture with
WeedMD Inc. and management sourcing.
To view the full press release, visit http://ibn.fm/T3Gd6
About Phivida Holdings Inc.
Phivida Holdings Inc. is headquartered in Vancouver, BC with
operations in San Diego CA. Phivida is a premium functional food and beverage
company focused on whole plant nutrition and natural ingredients that help best
maintain overall health and balance in the human body. The company infuses
organic active hemp extract into a variety of premium beverages and clinical
products for everyday health. Phivida embraces and celebrates a return to
organic, natural, plant-based foods and beverages, and a focus on holistic
health and wellness. The mission is to help reduce the world’s dependence on
pharmaceuticals and provide food and beverage choices that allow customers to
live a balanced healthy lifestyle. For more information, visit the company’s
website at www.Phivida.com
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