TORONTO–(BUSINESS WIRE)–Hempsana Holdings Ltd. (the “Company” or “Hempsana”), today announced that it has entered into a custom manufacturing agreement with Feel Ventures Inc. (“Feel Ventures”), to launch their first products from their ufeelu branded line of products.
Under the terms of the agreement, Hempsana has agreed to manufacture their best-selling SKUs that target non-psychoactive experiences both from a cannabinoid and terpene level perspective. Hempsana will leverage its manufacturing services as well as its newly commercialized production capabilities focused on minor cannabinoids such as CBG and CBN to manufacture and distribute Feel Venture’s first products from the ufeelu branded product line.
Feel Ventures is a Vancouver-based boutique brand house focused on creating innovative and approachable cannabinoid-based products. The ufeelu product line uses Canadian-grown hemp and carefully selected plant-based terpenes to craft naturally enhanced broad spectrum CBD blends in various consumable methods. The low THC line of products is designed for those who want to embrace whole plant extracts without the psychoactive effects.
“We are excited to be partnering with Feel Ventures to launch one of their best-selling SKUs from their ufeelu branded portfolio,” said Randy Ko, CEO of Hempsana. “Working with a unique and innovative brand such as ufeelu complements our vision to bring exciting new rare cannabinoids to consumers. The ufeelu line will leverage Hempsana’s minor cannabinoid extracts, to bring unique curated non-psychoactive CBD products to Canadian consumers in 2022.”
“At ufeelu our goal is to set the bar on curated experience-based products,” said Sameer Padamsey, Director at Feel Ventures. “Partnering with Hempsana, we get to leverage their research, development and extraction of rare cannabinoids with the work we have done with plant-based terpenes to set the industry standard for non-psychoactive craft cannabis products”.
About Hempsana Holdings Ltd.
The Company’s business involves the manufacturing of major and minor cannabinoid derivatives and producing cannabis extracts for use in finished products, including topical creams, vape pens and other infused consumables. Hempsana’s Health Canada Standard Processing Licensed, and EU-GMP compliant facility provides the Company with access to wholesale and retail channels in Canada and internationally. Hempsana currently offers a wide range of product formats, including topicals, tinctures, salves, vape pens which can all be fortified with major and minor cannabinoids that are all manufactured by Hempsana.
This press release contains forward-looking statements and forward-looking information within the meaning of applicable Canadian and U.S. securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this press release contains forward looking statements and information concerning the business and operations of the Company. The forward-looking statements and information are based on certain key expectations and assumptions made by management, including expectations and assumptions concerning the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information. There can be no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to, general economic conditions and the state of the regulatory environment. Please refer to the Company’s public record on SEDAR at www.sedar.com for more details on the risks faced by the Company. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward- looking information for anything other than its intended purpose. Management of the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.