Phivida Begins Mass Production for California Retail Market
Large Scale Production Managed by Phivida's New VP of Operations and Sales and former COO Monster Energy Drinks, Vice President of Labatt's USA and General Manager of Palmolive Colgate Canada, via Green Reef LLC
SAN FRANCISCO, CA, Feb. 1, 2018 /PRNewswire/ - Phivida Holdings Inc. ("Phivida" or the "Company") (CSE: VIDA; OTCMKTS: PHVAF) reports the inaugural mass scale production of Phivida's Nano-CBD™ infused functional foods, beverages and natural health products in preparation of a state-wide roll-out into the California retail market.
Phivida Nutrition produces Nano-CBD™ hemp oil infused beverages with a proprietary blend of phytonutraceuticals, including three flavours of Iced Teas, Vitamin Juices (Focus, Protect and Relax) and Vitamin Shots. Phivida Enhanced products include clinical grade sublingual's, and a new specialty muscle, bone joint hard-cap pill both sold under the Vida+ label. A total of fifteen product skus are now slotted for manufacturing.
Mass production of Phivida's CBD infused beverages will yield over 135,000 total units in inventory, including fifteen thousand finished packaged units for each sku of Nano-CBD™ hemp oil infused Vitamin Juices, Iced Teas and Vitamin Shots. Phivida is currently producing 5,000 units of CBD sublingual's, and 5,000 units of its new CBD infused capsules for muscle, bone and joint pain. When combined, Phivida's inaugural mass scale production will yield a total estimated wholesale inventory value of $2,500,000 USD.
Phivida is also pleased to announce the appointment of its new Vice President of Operations and Sales, Mr. Graham Magee. Mr. Magee is the former CEO of Full Spectrum CBD and the former US operating President of Endoca LLC. Mr. Magee will be managing the procurement and logistics of packaging and raw goods ingredient supply and overseeing mass production at Phivida's cGMP and organic certified contract manufacturing facilities.
Green Reef LLC is also overseeing mass production, logistics and distribution. Green Reef is Phivida's preferred California distribution partner, and CEO Mr. Gagliardi is the former COO of Hansen's Beverage (i.e. Monster Energy Drink), former Vice President and General Manager of Labatt's USA (now Interbrew / InBev), and led Colgate Palmolive Canada for 15 years as the Vice President and General Manager. Green Reef has over fifteen captive sales and merchandising representatives in the field across California and has already begun advanced marketing and pre-sales of Phivida branded products to regional distributors and retail locations across the state.
Phivida's production process includes; procurement, logistics and safety testing of all raw ingredients and packaging components to cGMP co-packer facilities. Quality assurance and safety testing will be performed via third party laboratory tested for potency, terpenes and safety. Upon release of a certificate of analysis verifying premium quality standards, proprietary formulas will be blended ("premixed"), and fed into a mass-scale bottling lines to be; filled, labelled, and packaged. Master cartons will be loaded onto pallets and sent to central distribution centres in southern and northern California for JIT fulfillment to retail stores and regional distributors.
Phivida Nano-CBD™ infused Hemp oil infused products eligible for sale in mainstream stores such as CVS, Rexall, Walgreens, Wholefoods, Sprouts and others. Phivida Holdings Inc. is focused on producing inventory for California distribution partners. Production for export to global distribution networks in Japan, Australia and Germany through Asayake distribution and Phivida's global on-line ecommerce affiliate partners, Namaste Technologies Inc. is planned for Q2 of 2018, with the primary focus on capturing leadership share of the California market.
The Phivida operations team launched large scale production this week to replenish stock distributor inventory and to prepare for a launch into California retail markets. Execution of large-scale food and beverage production cycles may range from 60 to 90 business days. The current production run was initiated in advance of receipt of funds from the initial public offering for an anticipated completion of April 15th to begin marketing and merchandising in prospective retail stores across California during the 2018 beverage season.
Phivida Holdings Inc.
Phivida (pronounced "fi-VEE-da") is a premier brand of cannabidiol ("CBD") infused functional foods, beverages and clinical products - poised for global distribution. Using nanoencapsulation technology, Phivida converts phytocannabinoids into water soluble delivery format, enhancing bioavailability, and timed released within the body. Phivida's Nano-CBD™ is infused into functional beverages, foods and supplements containing a proprietary blend of phytonutraceuticals studied to target a range of health conditions, from chronic pain to terminal diseases. The World Anti-Doping Association's recent decision to lift its ban of CBD from hemp oil and the World Health Organization's recent statement supports the clinical benefits of CBD worldwide. Celebrating; Health and Wellness, In Harmony™, Phivida's mission is to lead the alternative health care sector as the benchmark quality standard in premium cannabinoid infused foods, beverages and clinical products. For more information on Phivida products visit www.phivida.com or join our social media network @Phivida.
FORWARD-LOOKING INFORMATION
This press release contains forward-looking information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, the Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents, which can be found under the Company's profile on www.sedar.com. This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbour provisions of the Private Securities Litigation Reform Act of 1995. The CSE has neither reviewed nor approved the contents of this press release.
SOURCE Phivida Holdings Inc.
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