Phivida Holdings (CSE:VIDA) has announced a corporate update for the third quarter of fiscal 2018.

As quoted in the press release:


Key updates include a strong balance sheet and capital structure, positive regulatory shifts in the USA and Canada, a newly evolved board and senior executive team, and a new strategic portfolio of products and brands, comprehensive consumer research, new product development, new brand development visual identity and packaging design and an elevated national route-to-market strategy across the USA.

Key Highlights

  • Capital Structure – strong balance sheet with over $15 million CAD cash and no debt or loans
  • New Regulations – Farm Bill in US Senate, legalization of recreational cannabis and edibles in Canada
  • Board and Executive – Strengthening of corporate governance with new appointments to its Board of Directors and senior executive management team, as well as new dedicated full-time operational roles
  • Consumer Research – Extensive consumer market research study on the category, brand, products, target markets, consumer sentiment leading to new brand, packaging and product development initiatives
  • Product Development – Based on the results of a consumer insight research, the new senior executive opted to develop six new flavours of CBD enhanced waters and six newly formulated flavours of CBD enhanced iced teas, under a new brand developed with the Sid Lee agency – to be launched in Q3 2018
  • Brand Development – Sid Lee was retained as the lead agency of record to develop a new modern beverage brand and market positioning aligned with insights gained from the consumer market research
  • Packaging Development – Mr. Brian Schmitt was retained for a creative visionary for the development of a new visual identity and packaging system consistent with the brand platform developed with Sid Lee
  • WeedMD-Phivida – Management confirms that the proposed joint venture project (Cannabis Beverages Inc.) between WeedMD (TSX.WMD) and Phivida Holdings Inc. (CSE.VIDA) is still on track and in development. Management reports the cancellation of the Hiku Brands-WeedMD merger has had no material impact to date on the completion of a pending final definitive agreement for the CanBev project.

Click here to read the full press release.

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NAC has been shown to be safe and efficacious in a phase I human clinical study in treating military personnel who had suffered mTBI. The initial research focus is to demonstrate the safety and efficacy of the combination of psilocybin and NAC using broadly accepted rodent models. Final results are expected in 2021. Once this is established, more specific work can examine dose response, medicine uptake, and medicine levels. The research team at the Miller School of Medicine has conducted prior studies involving NAC with mTBI and has a license from the United States Drug Enforcement Administration to conduct research using Schedule I controlled substances, which includes psilocybin.

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To join the Aurora class action, go to http://www.rosenlegal.com/cases-register-1965.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

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