InnoCan Pharma Signs an Agreement with Fancystage Unipessoal LDA, a Leading Cosmetics Manufacturer to produce CBD Cosmetics to the European Market
CALGARY, ALBERTA and TEL AVIV, ISRAEL / ACCESSWIRE / November 5, 2019 / InnoCan Pharma Corporation ('InnoCan' or the 'Company') (CSE:INNO) announced today that it has signed an agreement with Fancystage Unipessoal LDA of Portugal (Fancystage)to manufacture its cannabidiol (CBD) cosmetic products for the European market. This agreement provides necessary support to Innocan's plans to enter the CBD Cosmetic market. Fancystage specializes in private label cosmetic manufacturing for international brands and produces high-quality cosmetic products according to the cosmetics Good Manufacturing Practices (GMP). Fancystage will manufacture InnoCan's CBD cosmetic products in accordance with Innocan's formulations as developed by, Innocan's R&D team led by Nir Avram, a senior pharmaceutical scientist with more than 30 years' experience.
Iris Bincovich, InnoCan's CEO, commented 'This is a major step forward for InnoCan because it establishes a significant part of our EU supply chain for the near-term commercialization of our first products. We chose to enter the CBD enhanced cosmetics market first because it is expected to provide high margin opportunities and represents a large diverse market in Europe.'
About InnoCan Pharma Corporation
InnoCan brings pharmacological knowledge to the burgeoning CBD marketplace. The founders and officers of InnoCan all have commercially successful track records in the pharmaceutical and technology sectors in Israel and globally. InnoCan's business has three distinct operating segments relating to the incorporation in products of CBD in their formulation: (i) research, development, marketing, distribution and sales of InnoCan-branded OTC pharmaceutical products; (ii) research and development of non-pharmaceutical products for third parties in exchange for fees and/or royalties; and (iii) research and development of hydrogels containing liposomes intended for licensing or sale to third party pharmaceutical corporations for manufacturing, distribution and sales. http://innocanpharma.com/
Caution regarding forward-looking information
Certain information set forth in this news release, including, without limitation, information regarding the markets, requisite regulatory approvals and the anticipated timing for market entry, is forward-looking information within the meaning of applicable securities laws. By its nature, forward-looking information is subject to numerous risks and uncertainties, some of which are beyond InnoCan's control. The forward-looking information contained in this news release is based on certain key expectations and assumptions made by InnoCan, including expectations and assumptions concerning the anticipated benefits of the product markets, satisfaction of regulatory requirements in various jurisdictions and satisfactory completion of requisite production and distribution arrangements.Forward-looking information is subject to various risks and uncertainties which could cause actual results and experience to differ materially from the anticipated results or expectations expressed in this news release. The key risks and uncertainties include but are not limited to: general global and local (national) economic, market and business conditions; governmental and regulatory requirements and actions by governmental authorities; and relationships with suppliers, manufacturers, customers, business partners and competitors. There are also risks that are inherent in the nature of product distribution, including failure to obtain any required regulatory and other approvals (or to do so in a timely manner) and availability in each market of product inputs and finished products. The anticipated timeline for entry to markets may change for a number of reasons, including the inability to secure necessary regulatory requirements, market demand, or the need for additional time to conclude and/or satisfy distribution arrangements. As a result of the foregoing, readers should not place undue reliance on the forward-looking information contained in this news release concerning the timing of launch of product distribution. A comprehensive discussion of other risks that impact InnoCan can also be found in InnoCan's public reports and filings which are available under InnoCan's profile at www.sedar.com. Readers are cautioned that undue reliance should not be placed on forward-looking information as actual results may vary materially from the forward-looking information. InnoCan does not undertake to update, correct or revise any forward-looking information as a result of any new information, future events or otherwise, except as may be required by applicable law.
For further information, please contact:
For InnoCan Pharma Corporation:
Iris Bincovich, CEO
For Investor Relations:
Proconsul Capital Ltd.
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SOURCE: InnoCan Pharma Corp
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