CBDNewsBreaks – Pressure BioSciences, Inc.’s (PBIO) Pending Merger Partner Enters LOI to Acquire Five Leaf Labs

May 20, 2020 08:54:34

Pressure BioScience (OTCQB: PBIO), a leader in the development and sale of broadly enabling, pressure-based instruments, consumables, and platform technology solutions to the worldwide biotechnology, biotherapeutics, cosmeceuticals, nutraceuticals, and food & beverage industries, on Tuesday announced that one of its two pending merger partners, Cannaworx, Inc., is substantially expanding its sales and distribution network through a letter of intent (“LOI”) to acquire Louisiana-based Five Leaf Labs (“FLL”). FLL recently released its first set of CBD-infused products to the U.S. market. “We attribute the success of our initial launch to both the high quality of our hemp source supply and processing methods, and to the effectiveness of our well-trained, knowledgeable and experienced network of over 50 sales representatives spanning 21 states,” Five Leaf Laboratories founder and president Keyon Janani stated in the news release. Cannaworx and its principals have twelve products being prepared for market launch over the next year, including two novel products that employ the company’s patented/patent pending, full and partial spectrum, hemp-derived phytocannabinoid formulations for pain relief. This acquisition is critically timed for Cannaworx, as it is anticipating the market launch of its first two products over the coming weeks. “From the day we met Keyon, we have been thoroughly impressed with him, the rest of the FLL team, their innovative product line, and of course their very strong and capable sales and distribution network. In addition, we are also motivated by the compelling standards of quality that drive Keyon and his team. For example, every product batch at FLL goes through rigorous third-party review and certification for content, consistency, and potency, from one of the most respected academic institutions in the U.S. We are pleased to be adding Five Leaf Laboratories to the Cannaworx family,” Cannaworx co-founder and president Dr. Bobby Ghalili stated in the news release.

To view the full press release, visit http://cnw.fm/Jir83

About Pressure BioSciences Inc.

Pressure BioSciences is a leader in the development and sale of innovative, broadly enabling, pressure-based solutions for the worldwide life-sciences industry. The company’s products are based on the unique properties of both constant (i.e., static) and alternating (i.e., pressure-cycling technology, or “PCT”) hydrostatic pressure. PCT is a patented, enabling technology platform that uses alternating cycles of hydrostatic pressure between ambient and ultra-high levels to safely and reproducibly control bio-molecular interactions (e.g., cell lysis, biomolecule extraction). PBIO’s primary focus is in the development of PCT-based products for biomarker and target discovery, drug design and development, biotherapeutics characterization and quality control, soil and plant biology, forensics and counter-bioterror applications. Additionally, major new market opportunities have emerged in the use of its pressure-based technologies in the following areas: (1) the use of its recently acquired, patented technology from BaroFold Inc. (the “BaroFold” technology) to allow entry into the biopharma contract services sector, and (2) the use of its recently patented, scalable, high-efficiency, pressure-based Ultra Shear Technology (“UST”) platform to (i) create stable nanoemulsions of otherwise immiscible fluids (e.g., oils and water) and (ii) prepare higher-quality, homogenized, extended shelf-life or room-temperature, stable, low-acid liquid foods that cannot be effectively preserved using existing nonthermal technologies. For more information, visit the company’s website at www.PressureBiosciences.com.

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