VANCOUVER, May 21, 2019 /CNW/ - Pivot Pharmaceuticals Inc. (CSE: PVOT / OTCQB: PVOTF / FRA: NPAT) ("Pivot" or the "Company") is pleased to announce that it has placed an initial production order for 100,000 units of micellized CBD Solution with SolMic GmbH ("Solmic"), a Dusseldorf, Germany based developer and manufacturer of nutraceuticals, cosmeceuticals, and pharmaceuticals. Pivot will market and sell the product through its distribution partners in European Union countries, where regulations permit.
Pivot's micellized CBD oral solution, is a revolutionary product for the emerging cannabis industry. It contains high-quality and pure extracts of natural hemp oil with a CBD content greater than 99.0% and THC content < 0.2%. Using patented Micelle technology, the resulting 1% solution is very effective as it has greatly increased bioavailability (up to 15 times higher than competing products) providing consumers greater consistency and effectiveness.
SolMic's CEO, Dr. Wolfgang Schoenfeld stated, "The entire SolMic team is thrilled to be working with Pivot Pharma. Production of the miCelleBD oral solution has been initiated and our sales and marketing team has begun to take orders from clients, including from a network of 2,000 pharmacies in Germany and Switzerland. We are very proud of the products made using our patented Micelle technology and consumers will finally be able to purchase a superior bio-available non-oil oral solution that is highly effective and stable."
Pivot's CEO, Dr. Patrick Frankham stated, "This initial order is the culmination of 18 months of work between the SolMic and Pivot teams. SolMic has been relentless in its efforts to create a product that has no equal in the market place. We look forward to introducing the Pivot Naturals miCelleBD oral solutions to consumers in the EU with the help of Solmic's sales and marketing team and other distribution partners. Pivot intends to introduce other products based on Solmic's patented Micelle technology, including cosmetics, and topical creams and gels in the near term."
About SolMic GmbH
Located in Dusseldorf, Germany, SolMic Research is a private company that focuses on the development of nutraceuticals, cosmeceuticals, and pharmaceuticals. With a vision to deliver innovative, high-quality products and to advance health and wellness of people, the talented team at SolMic Research has leveraged proprietary and patented technologies to create a broad range of wellness products. All of SolMic's products are designed to address people's specific health needs. The SolMic health solution is to create products using cutting-edge technologies.
About Pivot Pharmaceuticals Inc.
Pivot Pharmaceuticals Inc. is a science-based consumer packaged goods cannabis company engaged in the development and commercialization of health and wellness products using innovative, patent-protected drug delivery technologies. Upon receipt of a Standard Processor license (pending) from Health Canada, Pivot's premium, bioavailable, stable and effective products will be manufactured at its 50,000-sq. ft. cGMP facility located in Montreal, Quebec. Pivot's wholly-owned U.S. subsidiary, Pivot Naturals, LLC, based in Costa Mesa, California, was granted a Temporary Manufacturing Type N: Infusion License by the California Department of Public Health in November 2018. Pivot's product line includes infused beverages, vegan capsules, dissolvable tablets, topical creams and gels, intimate lubricants, roll-on pain relievers, stick packs, and bulk powder for the edibles market. For more information please visit pivotpharma.com
Cautionary Note Regarding Forward-Looking Statements
Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as anticipate, believe, estimate, expect, intend, and similar expressions, as they relate to Pivot Pharmaceuticals Inc., Pivot Green Stream Health Solutions Inc., Pivot Naturals, LLC, Solmic GmbH, or its management or the completion of the private placement, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, such as the failure to close the private placement, meet the conditions imposed by the CSE or other securities regulators, the level of business and consumer spending, the amount of sales of Pivot's products, statements with respect to internal expectations, the competitive environment within the industry, the ability of Pivot to continue to expand its operations, the level of costs incurred in connection with Pivot's expansion efforts, economic conditions in the industry, and the financial strength of Pivot's customers and suppliers. Pivot does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.
SOURCE Pivot Pharmaceuticals Inc.