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Avicanna's Rho Phyto Branded Products to be Available in California
Avicanna's Rho Phyto Branded Products to be Available in California Canada NewsWir...
About this update from Avicanna Inc
[{"type":"text","content":"\n\n\n\nAvicanna's Rho Phyto Branded Products to be Available in California\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Dec. 1, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAWS./\n TORONTO, Dec. 1, 2019 /CNW/ - Avicanna Inc. (\"Avicanna\" or the \"Company\") (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) today announces that LC2019, Inc. (\"LC2019\"), the entity that holds a license to Avicanna's intellectual property in the United States, has advised Avicanna that it has entered into an agreement (the \"License Agreement\") with a subsidiary of Kings Garden Inc. (\"Kings Garden\"), a California based company, manufacturing the Kings Garden brand, with extensive experience in the cultivation, processing and manufacturing of high-end cannabis products, pursuant to which LC2019 will sub-license Avicanna's Rho PhytoTM brand and proprietary formulations (collectively, the \"Rho Products\") to Kings Garden.\n\n \n \n\n \nAs announced by Avicanna in its November 26, 2019 press release, Avicanna has an option to acquire all of the outstanding shares of LC2019, which option may be exercised by Avicanna at any time and is expected to be exercised upon cannabis cultivation, processing, distribution and possession becoming federally legal in the United States.\nUnder the terms of the License Agreement, LC2019, through a wholly-owned subsidiary, has provided the Kings Garden team with an exclusive license to use the Rho Phyto trademark and to manufacture, market, distribute and sell the Rho Phyto advanced formulation products in the State of California. In consideration of the license granted under the License Agreement, the Kings Garden team has agreed to pay to LC2019 a royalty equal to 40% of the net profits from the sale of the Rho Products. Kings Garden, through its licensed subsidiary, will produce, manufacture and sell the Rho Products in the State of California. The initial...