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Pivot Pharmaceuticals Inc
Symbol PVOT
Shares Issued 88,679,077
Close 2019-01-25 C$ 0.23
Recent Sedar Documents

Pivot hires Growpacker to produce gels, creams, drinks

2019-01-28 07:50 ET - News Release

Mr. Patrick Frankham reports

PIVOT PHARMA SIGNS CONTRACT MANUFACTURING AGREEMENT WITH GROWPACKER INC.

Pivot Pharmaceuticals Inc. has entered into a strategic contract manufacturing agreement with Growpacker Inc. to produce Pivot's differentiated and patented topical gels, creams and beverages for the California cannabis market. Growpacker is a fully licensed cannabis co-packing and bottling company that operates to GMP (good manufacturing practices) standards in California, now the world's fifth largest economy and America's largest consumer market. This agreement will enable Pivot to launch its patented line of bio-cannabis products immediately and cost-effectively while complementing Pivot's existing production capacity at its licensed facility in Costa Mesa, Calif.

Highlights

  • Speed to market: Pivot's patented line of bio-cannabis creams, gels and beverages will be manufactured by Growpacker and launched in California in Q2 2019.
  • Second manufacturing facility: Growpacker will add additional large-scale capacity to Pivot's existing licensed facility located in Costa Mesa, Calif.
  • Health and wellness beverages: Growpacker will manufacture Pivot's health and wellness beverages using its patented oil-to-powder technology that renders CBD (cannabidiol) and/or THC (tetrahydrocannabinol) isolate to become water soluble, completely clear, tasteless and odorless in the finished product.
  • Topical gels and creams: Growpacker will manufacture Pivot's topical and transdermal drug delivery gels and creams that are highly bioavailable and penetrate the skin.
  • Located in Desert Hot Springs, Calif., Growpacker's core competencies include product development, manufacturing and distribution of cannabis products. In addition, Growpacker can pack beverages (both carbonated and non-carbonated, fully pasteurized, and shelf stable), dry goods, packaged flower and prerolls, and health and wellness products.

Stephen Boyd, chief executive officer of Growpacker, stated: "We are very excited to work with the Pivot Pharma team. Our facility is perfectly suited to help bring Pivot's line of topical gels, creams and beverages to market. Their patented technologies and formulations will fill a massive void in the cannabis market and we look forward to expanding our relationship in the months ahead."

Dr. Patrick Frankham, CEO of Pivot, commented: "Stephen has built a world-class facility and attracted high-calibre clients and development partners. We believe that Growpacker has the ideal setting to manufacture our topical gels, creams and beverages. In addition, our Costa Mesa facility will produce capsules, tablets, stick packs and bulk powder. Quietly and efficiently we have built a company that has acquired industry-leading intellectual property, formulated stable and bio-available pharma-grade products, signed global consumer and pharmaceutical product distribution partners, secured supply of high-grade isolates, and secured cGMP manufacturing facilities in Canada. We have positioned Pivot as a lean, global player in the cannabis market and will launch multiple products across many health and wellness areas and compete with large-scale cannabis companies with our superior products."

About Pivot Pharmaceuticals Inc.

Pivot Pharmaceuticals is a biopharmaceutical company engaged in the development and commercialization of therapeutic pharmaceuticals and nutraceuticals using innovative drug delivery platform technologies. Pivot's wholly owned medical cannabis products division, Pivot Green Stream Health Solutions Inc., conducts research, development and commercialization of cannabinoid-based nutraceuticals and pharmaceuticals. Pivot's wholly owned U.S. subsidiary, Pivot Naturals LLC, based in Costa Mesa, Calif., will manufacture and supply finished powderized cannabis products such as food additives, capsules, bulk powder and stick packs to the California market.

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