Pivot Pharmaceuticals Inc. (OTCMKTS:PVOTF) has announced that it is entering a strategic manufacturing agreement with Growpacker Inc.
The two companies signed a deal for the production of Pivot’s patented and differentiated beverages, tropical gels as well as creams to meet the demand of the cannabis market in California. The arrangement will allow Pivot to launch its bio cannabis products at manageable costs while at the same time complementing existing manufacturing capacity in the Costa Mesa facility in California.
Growpacker will start manufacturing the patented bio cannabis gels, creams, as well as beverages and the company expects to launch in California in the second quarter of 2019. The Growpacker facility will be an addition to the already licensed Costa Mesa facility to enhance large scale production. Using oil-to-powder technology that renders THC or CBD soluble, Growpacker will produce Pivot’s patented health and wellness products.
Meeting cannabis market demand
Growpacker CEO, Stephen Boyd, stated that they were excited to team up with Pivot Pharmaceuticals and added that their facility was ideal for the development of Pivot’s line of beverages, creams, and topical gels. He said that their patented formulation and technologies would play a vital role in meeting demand in the cannabis market.
Dr. Patrick Frankham, Pivot CEO, stated that Mr. Boyd had developed an ultra-modern facility that attracts high-end clients as well as development partners and he believes that Growpacker offers the best environment to enhance manufacture of their patented products. Dr. Patrick said that their Costa Mesa Facility would continue producing tablets, capsules, bulk powder as well as stick packs.
The CEO indicated that they had built a company that is leading in the acquisition of intellectual property in the industry as well as in the formulation of bio-available pharma products across Canada. Pivot has currently positioned itself as a significant player in the global cannabis industry, and they intend to launch many health and wellness products in various areas to enable them to maintain an edge over their competitors.