Hemp-cultivated cannabinoid innovator Phivida Holdings (CSE: VIDA) (OTCQX: PHVAF) recently commented on the successful passing of the 2018 Farm Bill. The bill removes hemp from the Controlled Substances Act, enabling the commercial cultivation and production of industrial hemp in the United States. “The passing of the 2018 Farm Bill clarifies hemp production and will bolster the growing acceptance of hemp-derived products containing CBD,” Phivida Holdings President and CEO Jim Bailey stated in the news release. “In particular, we expect it will have a positive impact on both of our Vida+ brand (www.HempVidaPlus.com) and Oki lifestyle brand of beverages, tinctures and capsules (www.FeelOki.com), which provide a spectrum of non-psychoactive phytocannabinoids through infusion with active hemp extract. This legislation will be helpful as we engage with major retail chains and grow to have our product on shelves in all 50 states.”
Additionally, Phivida this morning announced the appointment of John Caruso as a Director of the company as well as the resignation of John-David Belfontaine from its Board of Directors. Caruso brings more than 40 years of experience in the food and beverage industry, including knowledge regarding store operations, retail operations, procurement, merchandising and marketing. “As Phivida is launching its Oki brand of active hemp-infused functional beverages in retail stores, with plans to expand into other categories, John’s deep expertise will be a valuable addition to the Board,” Peter Simeon, Chairman of the Board of Directors, stated in the news release. “We look forward to working with him as we continue to focus on building long-term value for our shareholders.”
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About Phivida Holdings Inc.
Phivida Holdings Inc. is headquartered in Vancouver, BC with operations in San Diego CA. Phivida is a premium functional food and beverage company focused on whole plant nutrition and natural ingredients that help best maintain overall health and balance in the human body. The company infuses organic active hemp extract into a variety of premium beverages and clinical products for everyday health. Phivida embraces and celebrates a return to organic, natural, plant-based foods and beverages, and a focus on holistic health and wellness. The mission is to help reduce the world’s dependence on pharmaceuticals and provide food and beverage choices that allow customers to live a balanced healthy lifestyle. For more information, visit the company’s website at www.Phivida.com.
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