Vancouver’s Ovation Science Inc. (CSE: OVAT) (OTC: OVATF) is set to bring its topical cannabis products to Pennsylvania after signing a distribution agreement with a local cannabis company.
On Wednesday, the company announced that it would be distributing its Invibe MD CBD cream through a series of dispensaries owned and operated by PA Options for Wellness, a medical cannabis company in the state.
This deal represents Ovation’s first distribution partnership in the northeast United States and the company will be receiving royalties based on sales.
PA Options has six dispensary locations throughout Pennsylvania and 32,000 registered medical patients.
“Along with their impressive production facility and extensive distribution network, their team’s knowledge and expertise will ensure our products will resonate with dispensaries and patients across the state,” said Ovation’s CEO Terry Howlett regarding PA Options.
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Ovation says studies have shown that its topical creams release 10 times more CBD into the skin than other products with five times greater penetration.
The company received a patent for the Invisicare drug delivery system utilized in its products from the U.S. Patent and Trademark Office last September which will be valid until 2041. Ovation says 20 years of research and development went into Iniviscare.
In addition to the company’s Vancouver office, Ovation also has an office located in Las Vegas.
PA Options owns a cultivation facility in Duncannon, Pennsylvania spanning 65,000 square feet. The company focuses on selling its Mood cannabis flower and Solventless extracts.
Other cannabis companies offering topical cream products include Joy Organics, Extract Labs, CBDistillery, Aspen Green, Exhale Wellness and Royal CBD.
Although medical cannabis is legal in Pennsylvania adult-use pot is yet to be legalized there.
Ovation’s shares rose by 200 per cent Wednesday to $0.03 on the Canadian Securities Exchange.
rowan@mugglehead.com
