INDIVA Granted Exclusive Rights to DeepCell™ Industries’ Products in Canada
INDIVA Acquires Equity Ownership Interest in DeepCell Industries
LONDON, ON, April 26, 2018 /CNW/ – INDIVA Limited (the “Company” or “INDIVA”) (TSX- V:NDVA) is pleased to announce an exclusive license agreement with, and a USD $1.5 million investment into DeepCell Industries (“DeepCell”), a Seattle based technology development company focusing on material science, microfluidics and cannabinoid molecule discoveries.
DeepCell commercializes products by licensing its technology and trademarks to licensees with appropriate cannabis production and distribution licenses.
Pursuant to the license agreement (the “License”), INDIVA acquires exclusive rights in Canada to manufacture and sell DeepCell’s complete line of products, including its cannabis infused “Ruby” products produced using DeepCell’s patented Crystal Fusion™ technology. The Crystal Fusion™ technology mechanically fuses cannabinoids with sugar or salt, creating crystals that are both water soluble and stable.
The Ruby™ brand product line consists of infused sugar and salt crystals, pancake and drinks mixes, candies, topicals, prebiotic supplements and isolates.
To compete with the grey and illegal cannabis markets, we believe Canadian law must evolve beyond dried flowers and tinctures. INDIVA’s relationship with DeepCell reflects our strategy to become a product leader in Canada and a platform for international growth for non-plant touching US cannabis brands.
Koby Smutylo, Chief Operating Officer and General Counsel of INDIVA
INDIVA acquired approximately 15% of DeepCell stock for an investment of USD $1.5 million, which allows DeepCell to continue developing innovative products to license to partners in California and other jurisdictions permitted under applicable law.
“We were instantly impressed with DeepCell’s management team, existing product offering and product development pipeline,” said Niel Marotta, Chief Executive Officer and President of INDIVA.
DeepCell is pleased to partner with INDIVA and is looking forward to Canadian consumers having access to its convenient and wellness focused cannabis products when permitted under Canadian law.
Kelly Ogilvie, Chief Executive Officer, DeepCell
The transactions contemplated herein are subject to the approval of the TSX Venture Exchange.
About DeepCell Industries
DeepCell Industries is a Seattle-based technology development company focusing on material science, microfluidics, and cannabinoid molecule discoveries. DeepCell has pioneered the use of Crystal Fusion™ process as their first commercially-ready nanotechnology available for license. Ruby Cannabis Sugar™ was named a Dope Magazine “Product We Love,” and “high-quality and discreet” by Culture Magazine.
INDIVA is a Canadian supplier of high quality, medical grade cannabis. INDIVA’s strain selection, cultivation and client care processes combine the know-how and experience of an internationally recognized and award-winning grow-team with GMP-compliant quality assurance standard operating procedures.
INDIVA aims to become a global marijuana brand recognized for high quality cannabis products and excellent client care. As marijuana laws liberalize in Canada, INDIVA will expand its product offering to include safe edibles and other client-friendly cannabis products. In addition, as marijuana laws liberalize internationally, INDIVA will use its Canadian operations as a platform to open new markets for its cannabis products.
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