Business
AXIM® Biotechnologies Signs Licensing Agreement With Leading Gum Distributor to Expand Nutraceutical Division
AXIM® Biotechnologies Signs Licensing Agreement With Leading Gum Distributor to Expand Nutraceutical Division.
About this update from Axim Biotechnologies, Inc.
[{"type":"text","content":"\nNEW YORK, July 09, 2019 (GLOBE NEWSWIRE) -- AXIM® Biotechnologies, Inc. (OTC: AXIM) (“AXIM® Biotech,” “AXIM” or “the Company”), a world leader in cannabinoid research and product development, today announced that the Company has signed a multi-term agreement with KISS Industries, LLC (“KISS Industries”), a gum developer based in Colorado. KISS Industries is a well-respected developer of consumer products such as CONFADENT Sugar-Free Chewing Gum. The agreement grants KISS Industries a non-exclusive license to formulate and sell products that fall within AXIM’s patent on chewing gum containing cannabinoids and grants AXIM the ability to acquire 10 percent of KISS Industries.\n “KISS Industries is a known leader in chewing gum formulation, producing its popular gum products to cGMP standards with widespread distribution,” said AXIM® Biotech CEO John W. Huemoeller II. “As we focus on building revenue from our growing nutraceutical division, we understand the importance of maintaining AXIM’s reputation for providing high-quality full-spectrum hemp cannabidiol (CBD) products. KISS Industries will increase our capacity and sales channels through its distribution.” Under the agreement, AXIM will receive royalties for all cannabinoid-based gum sales KISS Industries makes through the Company’s licensed patent. AXIM’s licensed patent allows KISS Industries to distribute its products in both the U.S. and Mexico. In the future, AXIM may acquire 10 percent of KISS Industries as the company continues to grow its revenue stream and the right to match any outside future offer to acquire KISS Industries. AXIM’s CEO John W. Huemoeller II will also join the Board of Directors of KISS Industries. “AXIM is known as the industry leader for CBD chewing gum through its experience and patent on chewing gum containing cannabinoids,” said KISS Industries Founder, President and CEO Cole T. Evans. “We look forward to establishing a long-term relationship with AXIM and providing cannabis-based chewing gum created with exceptional manufacturing practices to our consumer base as the market continues to demand innovative CBD products.” To learn more about AXIM® Biotechnologies, Inc., visit http://aximbiotech.com...