Lexaria Bioscience Corp. (LXRP) Announces LOI With Naturally Splendid to Distribute CBD

Under the terms of the LOI, Ambarii will manufacture and supply Ambarii CBD Tablets to Naturally Splendid for exclusive distribution in Japan and South Korea. In addition to the revenue generated from product sales, Ambarii will also receive a royalty on all sales.

Ambarii CBD Tablets are quick dissolving and offer a consistent dose of full spectrum hemp oil, combined with the powerful antioxidant properties of pterostilbene. Tablets for each nation will be flavor optimized and zero-sugar. Ambarii high absorption CBD Tablets are the first commercially ready tablet of its kind and, utilizing patented technology, are designed to be the standard to which others will aspire to reach.

Lexaria’s CEO Chris Bunka says, “Ambarii is moving quickly to establish commercial production and distribution. Our Joint Venture partner Neutrisci International (TSX VENTURE: NU) and Lexaria, working together, hope to establish distribution for Ambarii products in other global locations. We’re pleased to be working with Naturally Splendid in this new enterprise.”

NeutriSci’s President, Glen Rehman stated, “This agreement establishes the first product distribution deal for the newly formed Ambarii. Together with our joint venture partner, Lexaria Bioscience, we are very excited to have made such significant progress with Ambarii. This agreement represents a significant milestone in the cannabinoid industry as it represents the completion of the first ‘plant to blood stream’ product of its kind. We look forward to working with Naturally Splendid on this exciting new venture.”

Naturally Splendid CEO Dave Eto states, “Combining the IP and expertise of the companies involved creates a most exciting synergistic and dynamic business opportunity and we would like to thank Lexaria, Neutrisci and Ambarii as we collaborate on this exciting venture. Naturally Splendid is also investigating a HempOmega™ infused, CBD sublingual chewable tablet, which could lead to a wider array of new products. Together with Lexaria, Neutrisci and Ambarri, we believe we can develop and market products that will give Naturally Splendid a competitive advantage in this market space. Our goal is to now complete a definitive agreement.”

Hemp oil containing CBD is legal in Japan, and with a population of over 127 million, it represents one of the largest markets in the world. South Korea is expected to open its market to CBD from hemp oil soon, and its population of 50 million makes this an attractive market as well. Naturally Splendid has been working since 2015 to open distribution channels in both Japan and South Korea and Ambarii expects these markets to contribute to meaningful revenue growth in 2017 and 2018.

To find out more about Ambarii, please visit www.ambariicorp.com.

Lexaria has 18 patents pending and patent applications filed in more than 40 countries worldwide.

About Naturally Splendid Enterprises Ltd.

Naturally Splendid is a biotechnology and consumer products company that is developing, producing, commercializing, and licensing an entirely new generation of plant-derived, bioactive ingredients, nutrient dense foods, and related products. Naturally Splendid is building an expanding portfolio of patents (issued and pending) and proprietary intellectual property focused on the commercial uses of industrial hemp and non-psychoactive cannabinoid compounds in a broad spectrum of applications.

About NeutriSci International Inc.

NeutriSci specializes in the innovation, production and formulation of nutraceutical products. Established in 2009, NeutriSci’s is building sustainable sales models with Convenience, Chain Drug, and Mass Market and Supermarket retailers for neuenergy^®, the Company’s natural energy and focus supplement that has at its core, the beneficial effects of blueberries. With the recent formation of Ambarii, a joint venture partnership with Lexaria Bioscience Corp., NeutriSci is expanding its reach into the burgeoning cannabinoid industry.