Strainsforpains, Inc. Enters into a Letter of Intent to Acquire Cannasphere Biotech, LLC and Commences Good Faith Negotiations and Pre-Purchase Due Diligence
NEW YORK, NY / ACCESSWIRE / August 11, 2021 / Strainsforpains, Inc. (OTC Markets:EBYH), a New York-based purveyor of enterprise-class technology solutions for the cannabis industry, announces that it has signeda letter of intent to acquire Cannasphere Biotech, LLC, an Arizona-based developer and manufacturer of water-soluble, nanoliposomal cannabinoid products serving business clients in the cannabis industry.Poised to emerge as a global player in the rapidly-growing cannabis and CBD markets, Strainsforpains is well-positioned with its database of cannabis cultivars and strain varietals to capitalize on Cannasphere's proprietary intellectual property, expertise in the cannabis space, and industry relationships. Distribution of Cannasphere Biotech's groundbreaking nanoliposomal cannabinoid products will assist Strainsforpains in expanding its business into several revenue-producing verticals.
"We are not just selling a product, we are fulfilling a need for information about the therapeutic utility of phyto-cannabinoids derived from all varieties of cannabis. Not only do the App and Database provide a platform where consumers can educate themselves about the medicinal effects of cannabinoids, they also provide a valuable resource for medical providers, product makers, growers and other industry stakeholders." said Simon Shainberg, CEO of Strainsforpains.
According to Shainberg, the portal will also provide an ideal marketing engine for Cannasphere Biotech, which is just one of many reasons the acquisition dovetails well with the company's strategic plan for expansion and explosive growth.
"Having been very impressed by the innovative nanoliposomal technology developed by Cannasphere Biotech, we believe this acquisition will add tremendous value to the Stransforpains portfolio," said Shainberg. "The synergy of combining resources of both companies will strengthen growth potential and position Cannasphere's products with an additional competitive advantage."
Founded in 2018 by an accomplished bio-molecular scientist whose patented liposomal technology solved the problem of nutrient waste common to nearly all conventional vitamins, Cannasphere Biotech applied the same disruptive technology to encapsulate oily cannabinoids in water-soluble liposomes, which vastly improves stability, uptake and targeted delivery of therapeutic cannabinoids to systemic receptors at the cellular level. Among the variety of products featured in Cannasphere Biotech's commercial catalogue are broad-spectrum CBD powders, liquids, and tablets for white-label clients, and isolated cannabinoids customized to order for manufacturers. Cannasphere Biotech is also working to launch the first patented liposomal liquid-filled gummy.
"We are excited about the possibility of the acquisition by Strainsforpains. We have been eager to grow our capacity to take even more of our transformative products to market and take our business to the next level," stated Cannasphere Biotech's President, Star Simmons. While Cannasphere's team of scientists continue pushing the boundaries of science to develop new cannabinoid therapeutics ahead of demand, she explained, "Combining assets and tapping their vast resources, Strainsforpains will unleash our potential for exponential growth."
Strainsforpains will provide the capital necessary to facilitate ongoing operations, overhead, management/staffing, manufacturing, licenses of proprietary intellectual property including formulations, trade secrets and other IP. This will allow Cannasphere to increase margins and procure new contracts with varied pricing models, expediting growth in the US and abroad.
Safe Harbor Statement : Statements in this press release that are not historical fact may be deemed forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although Strainsforpains, Inc. believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, Strainsforpains, Inc. is unable to give any assurance that its expectations will be attained. Investors are cautioned that any such forward looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Strainsforpains, Inc's. ability to control and those actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Strainsforpains, Inc.'s filings with the Securities and Exchange Commission.
For further info and Media Contact:
Strainsforpains, Inc.
Y. Simon Shainberg
646-481-4161
info@strainsforpains.com
For further info:
Cannasphere Biotech, LLC
Star Simmons
855-328-9959
star@cannaspherebiotech.com
SOURCE: Strainsforpains, Inc.
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