Phivida Holdings Inc. (CSE: VIDA) (OTC: PHVAF) this morning issued a corporate update for the third quarter of fiscal 2018, highlighting the successful transition of its new senior leadership team and its progress toward mainstream commercialization of its portfolio of products and brands. Per the update, Phivida’s recent corporate milestones include the strengthening of corporate governance through new appointments to its board of directors and senior executive management team, advances in product development based on the results of consumer insight research and the implementation of a new national distribution strategy in the wake of positive legislative developments in the U.S. market, among others. The company also made note of its strong balance sheet, which includes over C$15 million in cash with no debt or loans.
“We could not be more excited about the near term as we approach the commercialization of a newly evolved platform of CBD-infused beverages and hemp derived oil products,” Jim Bailey, president and CEO of Phivida, stated in the news release. “We have made great strides in the past quarter by developing the board and executive, assigning new dedicated operational roles, commissioning consumer research, new product and brand development and preparing for a major shift into mainstream national distribution across the USA. Phivida continues to focus on growth markets and lifestyle and aspirational trends, while evolving and modernizing our strategic product mix and brand portfolio to ensure that Phivida’s offerings resonate with current and future consumers in key retail and clinical markets.”
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About Phivida Holdings Inc.
Phivida infuses CBD derived from hemp into functional foods, beverages and clinical health products. Phivida uses encapsulated cannabinoid oils and extracts into water soluble form, enhancing bioavailability, and timed released within the body. Phivida’s CBD is infused into beverages, foods and supplements containing a proprietary blend of phytonutraceuticals studied to target a range of health conditions, from chronic pain, treatment of stress and anxiety to reducing inflammation in the body. The World Anti-Doping Association’s recently lifted a ban of CBD from hemp oil and the World Health Organization’s recent statement supports clinical benefits of CBD for athletes and active families. Celebrating; Health and Wellness, In Harmony™, Phivida’s vision is to lead the market as the benchmark quality standard in premium CBD infused foods, beverages and clinical products, with a dedication to research, education and investing back into the communities which it so proudly serves. For more information, visit the company’s website at www.Phivida.com
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