Business
Filing of Patents
Filing of Patents.
About this update from Chill Brands Group Plc
[{"type":"text","content":"\n \n \n RNS Number : 2933O\n Zoetic International PLC\n 29 May 2020\n \n \n \n \n Prior to publication, the information contained within this announcement was deemed by the Company to constitute inside information for the purposes of Article 7 under the Market Abuse Regulation (EU) No. 596/2014 (\"MAR\"). With the publication of this announcement, this information is now considered to be in the public domain.\n \n \n \n Zoetic International plc\n \n \n (\"Zoetic\" or the \"Company\")\n \n \n 29 May 2020\n \n \n \n Filing of Patents\n \n \n Change of Registered Office\n \n Zoetic International plc (LSE: ZOE), the London-listed vertically integrated CBD and natural resources company, is pleased to announce that it has filed US patent applications for its method of manufacturing of its Chill brand of THC-free, smokable CBD products (the \"Patent\"). This patent-pending method also includes a variation smoking cessation product, employing combinations of nicotine and CBD, which is also THC-free. The Patent has been in development by the Company for over a year.\n \n The Company believes that CBD may play a rapidly increasing role in smoking cessation aides, and that its Chill branded tobacco-free, THC-free and nicotine-free products are well-placed to take an increasing share of this market, and that the Patent will provide the Company, if it is issued, with a protected market-leading offering. The Smoking Cessation market was estimated to be worth around $4 bn in 2019 in the USA, with significant growth forecast (Source: Grand View Research).\n \n It is the Board's intention to focus the Company on non-nicotine smoking cessation products as part of its portfolio of CBD products, so it has separately agreed with Paul Mendell, the Company's former Chairman, a sales agency and licence agreement for the combined nicotine and CBD, and nicotine-only versions of the Patent on which the Company and Mr Mendell will equally share any royalties and/or licence fees from third-party use (including any third-party introduced by Zoetic). If in the future the Company decides to utilise the combined nicotine and CBD, or nicotine-only versions of the Patent, Mr Mendell will receive a 5 per cent royalty on any sales by the Company. The Company is not aware of any other tobacco-free, T...