VANCOUVER, BC / ACCESSWIRE / December 4, 2024 / (CSE:OVAT)(OTC PINK:OVATF) - Ovation Science Inc. ("Ovation" or the "Company"), with its patented topical and transdermal cannabis products powered by its proprietary skin delivery technology Invisicare®, announces the official launch of its products in Pennsylvania through its licensee: PA Options for Wellness Inc. ("PA Options").
The launch marks Ovation's second licensee in the USA and is part of the Company's on-going strategy to seek leading cannabis companies as licensees, state-by-state across the US. Pennsylvania's medical cannabis market boasts over 850,000 registered patients and caregivers, with more than 170 dispensaries throughout the state. PA Options, founded in 2014, operates six dispensaries under the Vytal Options brand and has over 32,000 registered medical patients. The Ovation Science products will be launched through-out Pennsylvania under the brand name "Mood".
PA Options operates a 65,000-square-foot, state-of-the-art cannabis grow/processing and production facility. The company collaborates with Penn State University College of Medicine on Medical Cannabis Research and with Penn State University Harrisburg on research exploring the medicinal properties of hemp and flax.
Terry Howlett, CEO of Ovation Science, stated, "We are excited about collaborating with PA Options as both companies are focused on offering the best, most effective products to patients. Our expansion with PA Options will establish our products in a market that really needs our science-based solutions. Their impressive production facility and extensive distribution network will ensure our products resonate with dispensaries and patients across the state. By collaborating with PA Options, we're bringing this innovative approach directly to patients who need advanced, research-backed medical cannabis solutions."
Tom Trite, CEO of PA Options, stated: "Our mission has always been about more than just selling medical cannabis - it's about improving patient outcomes and quality of life. Ovation's scientifically developed products align perfectly with our commitment to transforming patient care. Their Invisicare® technology represents a quantum leap in transdermal cannabinoid delivery, offering our patients a potentially more effective, targeted approach to managing their health conditions. We're not just adding a new product line; we're introducing a medical cannabis treatment that could significantly improve how patients experience relief."
Unlike traditional cannabis products, Ovation's innovative formulations leverage advanced pharmaceutical-grade drug delivery technology that dramatically enhances cannabinoid absorption. and enables substantially more CBD, THC, and other cannabinoids to be delivered through the skin. Studies show the company's products have a 10 times greater release of CBD through the skin compared to other tested products. The products can be used for both topical skin issues and transdermal absorption into the bloodstream.
Ovation continues to expand its U.S. growth strategy with notable developments in multiple states. The Company reports ongoing success in Nevada through its licensee Planet 13 with its Medizin product line, demonstrating a strong market presence in the state. Further expanding its footprint, the Company is preparing to enter the Missouri market. This expansion, through its licensee MidWest Roots, is anticipated to occur in January 2025. Additionally, the Company announces the termination of its previously disclosed licensing agreement with Stash House Distribution for Oklahoma, New Mexico, and Mississippi, allowing for new potential licensees to enter these states.
About PA Options for Wellness, Inc.
PA Options for Wellness was founded with research in mind and a focus on patient outcomes and quality of life. Its mission is to combine plant science and medicine to bring top-quality, innovative products to the medical market and transform the lives of their patients while adhering to strict ethical standards. The company operates a 65,000 square foot, state-of-the-art cannabis grow/processing and production facility and six patient-centric cannabis dispensaries throughout Pennsylvania. The company also collaborates with medical leaders and universities in the state to advance patient care and research.
About Ovation Science Inc.
Ovation Science Inc. and its wholly-owned subsidiary; Ovation Science USA Inc., is a research and development company that develops topical and transdermal CBD/THC and other cannabinoid products which are out-licensed and also distributed under Ovation's own brands; ARLO CBD Beauty and InVibe® MD ("wellness" line); all powered by its patented Invisicare® skin delivery technology. Invisicare enhances the delivery of ingredients to and through the skin and is protected by patents and proprietary formulations which cannot be duplicated. With over 20 years of pharmaceutical drug delivery experience, Ovation's management and science teams have created a unique pipeline of over thirty proprietary medical / wellness topical and transdermal products along with a line of anti-aging / beauty formulas. Ovation earns revenues from royalties on licensees' sales and the sale of Invisicare, along with revenue from its own product sales. Ovation has offices in Vancouver, Canada and Las Vegas, USA.
Stock symbols: CSE:OVAT and OVATF in the USA on OTC Markets.
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. In particular there is no assurance of sales and acceptance of its products in any of the states cited, continued sales in dispensaries or in retail markets or expansion to other states. There are no guarantees of future performance or changes to regulations. Ovation Science Inc. cautions that all forward-looking statements are inherently uncertain and that actual results may be affected by a number of material factors, many of which are beyond Ovation Science Inc.'s control. Accordingly, readers should not place undue reliance on the forward-looking information. Ovation disclaims any obligation to revise or update any such forward-looking information to reflect future results, events or circumstances, except as required by law.
Statements have not been evaluated by the Food and Drug Administration or Health Canada. These products are not intended to diagnose, treat, cure, or prevent any disease.
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