KELOWNA, BC / ACCESSWIRE / July 10, 2019 / Lexaria Bioscience Corp. (LXRP) (LXX.CN) (the “Company” or “Lexaria”), a drug delivery platform innovator, announces that it has entered a definitive 5-year agreement, via its subsidiary Lexaria Hemp Corp, to provide Lexaria’s patented DehydraTECHTM technology to Nic’s Beverages L.L.C. for use in CBD-based beverages to be produced and sold throughout the United States.
This new license is the fourth beverage license awarded by Lexaria; three of which are for immediate use in the US and one in Canada pending new legislation taking effect in October, 2019.
Nic’s Beverages will initially begin production of ready-to-drink (“RTD”) cold brew coffees enhanced with CBD from multi spectrum hemp oil.
“We are currently in discussions with major wholesale houses and are looking to be in the market by the first of October,” said John Goodpasture, CEO of Nic’s Beverages. “DehydraTECH technology is perfect in allowing us to deliver CBD from hemp oil with zero impact on our cold brewed coffee’s outstanding aroma or flavour. Nic’s is extremely excited about our new product lines and our continued growth with Lexaria.”
Nic’s Beverages started out simply from a father and son’s love of a good cup of coffee. Nic’s is a smooth Cold Brew Coffee that is infused with CBD. Available in 4 unique flavors and coming soon to a convenience store near you.
Lexaria Bioscience Corp. has developed and out-licenses its disruptive delivery technology that promotes healthier ingestion methods, lower overall dosing and higher effectiveness of lipophilic active molecules. Lexaria has multiple patents pending in over 40 countries around the world and has patents granted in the USA and in Australia for utilization of its DehydraTECH™ delivery technology. Lexaria’s technology provides increases in intestinal absorption rates; more rapid delivery to the bloodstream; and important taste-masking benefits, for orally administered bioactive molecules including cannabinoids, vitamins, non-steroidal anti-inflammatory drugs (NSAIDs), nicotine and other molecules.