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VANCOUVER, B.C. / TheNewswire / August 22, 2018 - Sproutly Canada, Inc. (CSE: SPR) (FRA: 38G) ("Sproutly" or the "Company") is pleased to announce that it has entered into an exclusive technology license and use agreement ("License Agreement") with Minnesota State based, Micronutrient Technologies Inc. ("MTI") to utilize its proprietary platform known as Minerals in Solution Technology ("MiST") for use in creating cannabis and hemp based beverages in select jurisdictions around the world. Under the License Agreement, Sproutly will be granted the exclusive right to utilize MiST and its water soluble nutritional minerals to produce enhanced water, beverages, and soluble nutritional mineral supplements that include a cannabis or hemp component for the recreational and medicinal markets. The license is applicable in Canada, Australia, Jamaica, Israel, and all countries that are part of the European Union as of the date of the Licensing Agreement. MiST is a patent-pending technology that produces a 100% water soluble form of multiple minerals (Including calcium, magnesium, zinc, potassium, sodium and trace minerals such as copper, iron, manganese, strontium) on the same molecular platform. MiST offers an unprecedented versatility in formulating unique combinations of micronutrients that address the growing consumer needs for health and wellness in modern lifestyle. MiST produces stand-alone or custom blends of minerals with other micronutrients in water solutions that will fortify a beverage in a single manufacturing step and has proven to be shelf stable in beverages for at least 2 years. The license provides Sproutly with the know-how developed over a decade in designing innovative beverages with multiple nutrients, including nutritional minerals, which are essential for health and wellness.
Keith Dolo, CEO of Sproutly, commented: "MisT is a transformational technology that will allow us to add fully water soluble minerals in different combinations, in cannabis beverages without the need for artificial chemical additives or formulation methods such as emulsification or encapsulation." He added, "MiST, coupled with our naturally water soluble cannabinoid, infuz20, will position us to lead the cannabis industry by bringing to market, beverages that deliver the benefits of this unique plant to health-conscious consumers and the experience of the diverse varieties of cannabis and hemp in adult use markets as traditional beverages. Sproutly is pleased announce this transaction, subsequent to the acquisition of Infusion Biosciences Canada, which strengthens our competitive advantage with beverage products that require stable, water soluble ingredients. "
Overview of MiST
MiST, based on over 12 years of research and development, is a patent pending technology to produce nutritional minerals in water solutions by a cost-effective and scalable process. The molecular platform of MiST minerals enables beverage manufacturers to create custom combination of multiple minerals at desired proportions that can be used as a "single blend" to manufacture fortified beverages with other micronutrients including plant derived natural compounds. These minerals include: calcium, magnesium, zinc, potassium, sodium and trace minerals (copper, iron, manganese, strontium). MiST is currently commercialized in fortified bottled water and functional liquid supplements. MiST minerals have multiple benefits, which include:
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- Providing a more complete and immediate delivery to the body;
- Allowing precise dosing;
- Offering an easily ingestible format; and,
- Delivering in a state where the body does not have to process further to make it available.
MiST produces highly concentrated true water solutions of essentially all nutritional minerals individually, in blends of multiple minerals, and in blends with other micronutrients with compositions that are customized for products targeting different customer bases.
About Micronutrient Technologies Inc.
MTI is a fortification technology and formulation company focused on the water, beverage, food, and dietary supplement markets. Using its proprietary platform technology known as Minerals in Solution Technology (MiST), MTI is able to produce water soluble minerals that can be used to formulate unique multi-nutrient formulations in true water solutions, as an ideal nutrient delivery system. MTI was co-founded by Dr. Sen and is currently the only company that offers multiple food grade, 100% water-soluble minerals on a single molecular platform that provides the versatility to combine multiple minerals with other micronutrients (vitamins, and natural plant chemicals) in a single water solution without artificial chemical additives.
About Sproutly Canada, Inc.
Sproutly is an ACMPR Licensed Producer of cannabis and an exclusive licensee of APP Technology that strives to meet the evolving needs of cannabis consumers in regulated global jurisdictions. Its mission is to become a consumer products company, bringing together best-in-class cultivation, secured distribution solutions, and advanced technologies to redefine the cannabis industry. Sproutly currently owns and operates a 16,600 sq. ft. production facility located centrally in the Greater Toronto Area utilizing state-of-the-art production technology and methods designed to pharma-grade standards. Sproutly's strategy is focused on developing and deploying novel technologies to formulate and market unique cannabis products in a rapidly evolving consumer market.
For more information on Sproutly, please visit www.sproutly.ca.
Contact:
Keith Dolo, Chief Executive Officer of Sproutly Canada
Email: [email protected]
Forward-Looking Statements
Cautionary Note Regarding Forward-Looking Statements: This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws or forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to future events or future performance and reflect the expectations or believes regarding future events of management of Sproutly Canada. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward-looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things, the date of trading of the Sproutly Shares on the CSE and final regulatory approvals. These forward-looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, and other factors, many of which are beyond the control of Sproutly Canada. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
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