TORONTO, ON / ACCESSWIRE / December 18, 2020 / JOYN Botanicals Ltd. ("JOYN") is pleased to announce it has signed a joint venture ("JV") agreement with Adastra Labs Holdings Ltd. (XTRX) (D2EP) ("Adastra") a Health Canada Licensed cannabis processing and analytical testing services Company, for the exclusive Canadian use of its patent-pending Solucann water soluble cannabis powder for addition into Cannabis 3.0 beverages, edibles, and other wellness products. Solucann will be available for launch into the Canadian cannabis Consumer Packaged Goods (CPG) market segment in Q1 2021.
Solucann powder contains concentrated cannabinoids (THC and CBD) with increased bioavailability and rapid onset, a desired feature for consumers looking for alternatives to alcoholic beverages. Solucann is water soluble, flavourless, odourless, and clearly dissolves in liquids. This versatile product, developed with innovative technology, has a variety of applications in the cannabis market, and meets consumer demands in the beauty, and health and wellness industries. Solucann ingredients are Non-GMO, GRAS, gluten and calorie free, and are FDA and Health Canada approved for use in other natural health products.
A Solucann patent, filed under the terms of the International Patent Cooperation Treaty, is pending in the USA.
"We are excited to partner with JOYN Botanicals to formulate and distribute its Solucann powder to the cannabis CPG marketplace in the new year. The JOYN Team brings deep chemistry, biology and medical expertise to the table, coupled with proven brand success in the food and beverage industry." - Andy Hale, CEO Adastra.
Solucann Retail Product Potential
- Superfoods
- Supplements
- Beverages
- Beauty products
- Pet foods
- Confectionaries
- Chewables
The Solucann Advantage
- Precise and consistent dosing
- Rapid Onset
- Enhanced bioavailability
- Water soluble
- Readily dissolves water clear
- Odourless and flavourless
- Calorie free
- Non-GMO
- Gluten free
Under the terms of the Joint Venture Agreement, Adastra and JOYN will create a combined entity to leverage the Solucann technology across the Canadian marketplace. Key objectives of the partnership include developing and bringing to market Solucann products that have broad applicability to the CPG segment.
"We at JOYN Botanicals are excited about the opportunity to work with Adastra to bring our Cannabis 3.0 Solucann powder to market. Together with Adastra's extraction and formulation mastery, and our teams' combined scientific excellence and product development expertise, we look forward to offering products that serve the existing customer segment seeking to tailor their cannabis consumption, for a conscious, dose-controlled experience." Laura Chodola, Chief Strategy Officer, JOYN Botanicals.
Due to sublingual absorption, consumers of JOYN Botanicals' Solucann powder can expect a rapid onset (unlike existing products in the marketplace), of between 10 and 20 minutes, with sustained effects of 3-4 hours. With precise and consistent dosing and no cannabis flavour, the root product taste and texture profile remain the same for any product infused with Solucann powder. (solucann.ca)
Figure 1 - Solucann Powder in Tea
About Adastra Labs Holdings Ltd.
Adastra Labs Holdings Ltd. is a Langley, BC-based cannabis company with a co-located Health Canada Licensed Standard Processing Facility and Analytical Testing Laboratory. Adastra can produce cannabis extract through supercritical CO2 extraction and Cryo-Ethanol extraction with further molecular wiped-film distillation as well as conduct in-process quality testing. Adastra is currently expanding to provide hydrocarbon extraction. Such extracts can easily be incorporated into edibles, beverages, topicals, tinctures, vape cartridges and other products that will serve the Canadian medical and adult-use cannabis markets.
www.adastralabs.ca
For investor inquiries please contact:
Andrew Hale
Chief Executive Officer
Adastra Labs Holdings Ltd.
Phone: (778) 715-5011
Email: info@adastralabs.ca
About JOYN Botanicals
JOYN botanicals is an innovative biotech company that has developed disruptive patent pending technology that converts cannabis oils and distillates into a water soluble, tasteless, and odorless powder (Solucann Powder).
www.joynbotanicals.com
Laura Chodola
Chief Strategy Officer
JOYN Botanicals Ltd.
Email: hello@joynbotanicals.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION:
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law including statements relating to Solucann powder performance, product development and delivery to the market. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE and Health Canada, economic, business, competitive, political and social uncertainties, failure to commission equipment, unexpected contamination of products, saturation of the market for the Company's current and proposed future product offerings, failure of third parties to deliver on expected timelines, overestimation of competencies of third parties, termination of commercial engagements, termination of expected supply agreements and loss of key personnel. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the business plans for the Company as described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements.
SOURCE: JOYN Botanicals Ltd.
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