Breaking News: Pivot to Commercialize Cannabis Products in California Under New Regulations

Pivot Pharmaceuticals Inc. (OTCQB: PVOTF) (CSE: PVOT) is pleased to announce that its recent Binding Letter of Intent to acquire ERS Holdings LLC’s patent for Ready To Infuse Cannabis Technology (RTIC) for food and beverage-based products will permit the company to commercialize K-Cup and Stick Pack cannabis products under the new regulations that took effect in California on January 1st, 2018.  Pivot will initiate development of emulsified cannabis powder for infusion into beverages as its first commercial product in a soon-to-be-announced facility in Anaheim, California.

In December 2017, Pivot signed a Subsidiary Agreement for establishing a California-based facility in order to conduct research, development and commercialization of cannabinoid-based products using certain intellectual property (the “IP”) and trade secrets (the “Trade Secrets”) for the food and beverage markets.  Pivot is currently finalizing plans for a commercial installation.

The state of California represents the biggest legal recreational marijuana market in America.  It is estimated that the sale of recreational cannabis in the state of California could reach US $7 billion by 2019.  Pivot has positioned itself to introduce its pipeline of products into the market.  

Dr. Patrick Frankham, Pivot’s Chief Executive Officer, said, “Following our recent entry into the California bio-cannabis market we anticipate generating revenues from our RTIC technology in 2018.  California has over 1,000 dispensaries and an established network of points of purchase for our premium products.”

Dr. Frankham also stated, “Our mission is to provide novel formulations of cannabinoid-based products that ultimately enable consumers and patients to manage their own lifestyle or healthy outcomes. Bio-cannabis represents the only user-centric products in a market that will become mainstream over the next couple of years.”

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