Before the opening bell, Laguna Blends, Inc. (OTC: LAGBF) announced some of the highlights of a recent clinical trial completed by Cannaceuticals (“Canna”). The study, which was conducted by BioScreen Testing Services, Inc., highlighted the efficacy of Canna’s cannabidiol (CBD) face serum, with test subjects noticing a 100 percent overall improvement to the appearance of skin within two weeks. These results follow last week’s announcement of Laguna’s entry into a non-binding letter of intent with Cannaceuticals of California, USA whereby the two companies will look to enter into a definitive manufacturing and exclusive license agreement for the purpose of pursuing mutually beneficial business opportunities in the rapidly expanding CBD skin care industry.
“Obviously when you receive a 100% improvement with a product you have a home run type of product with proven science and clinical data,” Ray Grimm Jr., president of Laguna Blends, stated in this morning’s news release. “Laguna is ecstatic to be in negotiations to acquire the Cannaceuticals brand name and product line. Management believes that this proposed acquisition will immediately establish Laguna as a player in the skin care category.”
Other highlights stemming from Canna’s clinical study included:
- 85.71 percent of test subjects noticed an improvement to their skin appearance within the first seven days
- 80.95 percent of subjects noticed an improvement to their skin texture within two weeks
- 80.95 percent of subjects noticed an improvement in the appearance of fine lines and wrinkles of the mouth area
- 80.95 percent of test subjects said they would purchase the Canna serum product if it was made available for sale
These results are particularly promising for Laguna, as the company continues to make strides toward entry into the $121 billion global skin care industry. According to last week’s news release, Laguna and Canna have agreed to an exclusivity period relating to Canna’s CBD skin care products that will extend through July 29, during which time the two companies plan to finalize a definitive agreement. The initial terms of this agreement state that Laguna will purchase the entirety of Canna’s existing inventory and receive an exclusive license to sell the products in the United States and Canada.
Pending due diligence and any required approvals, Laguna will look to offer Canna products through its affiliate marketing network as early as August of this year in the U.S., with sales in Canada expected to follow by the end of 2016. Laguna will also receive license and marketing rights to sell Canna products in Asia, Europe and Mexico, subject to Canna receiving regulatory approval in those markets, setting the stage for potential international growth in the months to come.
For more information, visit www.lagunablends.com
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