PLNHF - Ovation Science Signs License Agreement with Planet 13 for Its Topical / Transdermal Cannabis Products for Nevada | Benzinga
VANCOUVER, BC and LAS VEGAS, Sept. 11, 2023 /PRNewswire/ - (CSE: OVAT) (OTCQB:OVATF) – Ovation Science Inc. ("Ovation" or the "Company"), with its proprietary topical and transdermal cannabis products powered by its patented skin delivery technology Invisicare®, today announced the signing of an exclusive licensing agreement with Planet 13 Holdings, Inc. (CSE:PLTH) (OTCQX:PLNHF) ("Planet 13"), a leading vertically-integrated multi-state cannabis company, for the rights to Ovation's topical / transdermal formulations for the state of Nevada.
Under the terms of the agreement, Planet 13 will have the exclusive manufacturing, sales and marketing rights for Ovation's topical / transdermal products for Nevada. Ovation will receive royalties based on wholesale sales. Planet 13 owns and operates the world's largest cannabis dispensary that has become a must-see destination for cannabis connoisseurs and tourists from around the world. Planet 13's 112,000 square foot SuperStore and entertainment complex is located just off The Strip in Las Vegas. Planet 13 accounts for just under 9-percent of cannabis dispensary revenue for the entire state of Nevada.
"We are very pleased to reach this agreement with Planet 13, said Terry Howlett, President of Ovation. "Not only does Planet have the world's largest dispensary but they have a robust wholesale division which services other dispensaries throughout Nevada. Additionally, as Planet 13 has extensive past success with Ovation's topicals, it is ideally positioned to ensure a rapid and optimized re-launch of our products. We believe this partnership will be a game-changer for ...