Phivida Holdings Inc. (CSE: VIDA) (OTCQX: PHVAF) Comments on DEA’s Removal of Cannabidiol from Schedule 1

  • Phivida’s vision is to help lessen the world’s dependence on pharmaceuticals
  • The company comprises two main brands
  • Phivida recently talked about the removal of CBD from Schedule 1 of the Controlled Substances Act

Phivida Holdings Inc. (CSE: VIDA) (OTCQX: PHVAF) is a premium functional food and beverage company. Its focus is whole plant nutrition and natural ingredients. As a result, it infuses organic active hemp extract into an array of premium foods, beverages and clinical products. Phivida’s corporate mission is to help reduce the world’s dependence on pharmaceuticals and provide healthy food and beverage choices. Phivida is headquartered in Vancouver, British Columbia, and has its U.S. office in San Diego, California.

Phivida’s business model consists of two main brands – Vida+ and Oki. Vida+ focuses on providing premium, clinical grade full spectrum hemp oil extracts and capsules that are distributed across the U.S. through alternative health care clinics. Oki is the company’s newly launched lifestyle brand of functional beverages and supplements infused with active hemp extract and will be available to consumers in up to 2,400 natural specialty store locations within the U.S.

Recently, Phivida Holdings talked about the removal of cannabidiol (CBD) from the U.S. Drug Enforcement Administration’s Schedule 1 list of controlled substances. In a news release, Jim Bailey, president and chief executive officer of Phivida, said, “We see this reclassification of CBD in pharmaceuticals as a good sign that will bolster the growing awareness of CBD as a substance that delivers many benefits, and opens the door for other CBD-based treatments, in line with the recent FDA approval of a drug to treat childhood epilepsy.”

The expectation is that the cannabidiol industry will grow to $2 billion by 2022 (http://cnw.fm/4gJZc). New Frontier Data noted that, “The U.S. CBD market is primed for expansive growth across its three primary sectors, hemp-derived CBD, marijuana-derived CBD and pharmaceutical CBD.” Phivida Holdings is leveraging this growth with its innovative new products designed with the discerning consumer in mind. The company’s initiatives, by way of its three subsidiaries, have Phivida on course for exponential growth in a fast-developing sector.

For more information, visit the company’s website at www.Phivida.com

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