Hemp-cultivated cannabinoid innovator Phivida Holdings (CSE:
VIDA) (OTCQX: PHVAF) recently commented on the successful passing of the 2018
Farm Bill. The bill removes hemp from the Controlled Substances Act, enabling
the commercial cultivation and production of industrial hemp in the United
States. “The passing of the 2018 Farm Bill clarifies hemp production and will
bolster the growing acceptance of hemp-derived products containing CBD,”
Phivida Holdings President and CEO Jim Bailey stated in the news release. “In
particular, we expect it will have a positive impact on both of our Vida+ brand
(www.HempVidaPlus.com)
and Oki lifestyle brand of beverages, tinctures and capsules (www.FeelOki.com), which
provide a spectrum of non-psychoactive phytocannabinoids through infusion with
active hemp extract. This legislation will be helpful as we engage with major
retail chains and grow to have our product on shelves in all 50 states.”
Additionally, Phivida this morning announced the appointment
of John Caruso as a Director of the company as well as the resignation of John-David
Belfontaine from its Board of Directors. Caruso brings more than 40 years of
experience in the food and beverage industry, including knowledge regarding
store operations, retail operations, procurement, merchandising and marketing.
“As Phivida is launching its Oki brand of active hemp-infused functional
beverages in retail stores, with plans to expand into other categories, John’s
deep expertise will be a valuable addition to the Board,” Peter Simeon,
Chairman of the Board of Directors, stated in the news release. “We look
forward to working with him as we continue to focus on building long-term value
for our shareholders.”
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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