PHVAF - Phivida Holdings Inc. Launches CBD Marketplace Wikala.com

Canada NewsWire

VANCOUVER and SAN DIEGO, Dec. 2, 2019

VANCOUVER and SAN DIEGO, Dec. 2, 2019 /CNW/ - Phivida Holdings Inc. (CSE: VIDA OTCQX: PHVAF) ("Phivida" or the "Company") is pleased to announce that Wikala.com ("Wikala"), an online CBD marketplace for U.S. vendors, is now live. Phivida previously launched the private beta for its accessories site in May 2019, following its acquisition of Wikala.com Inc. on April 29, 2019, which was subsequently rebranded as Bloomgroove.com and released live in September 2019.

Phivida's full line of Oki and Vida+ products can now be purchased on the Wikala site as well as select CBD products sold by third parties.

Wikala's proprietary third party seller module is a key feature of the platform, which will enable a wide variety of products to be available on the site, and is expected to drive increased interest and traffic. Now live in open beta, through the sellers' portal independent businesses can register as a third party seller and, once approved, create a digital storefront.

Wikala offers CBD vendors and manufacturers a customizable out-of-the-box e-market solution with digital storefront creation, editable product listings, and powerful shopping cart features. Independent sellers benefit from selling their products across the United States through a website that is optimized for search engine visibility, without the technology headaches, and Wikala expects to generate additional revenue from hosting the storefronts and increased traffic from the product diversity.

"Launching Wikala, with its seller module in open beta, is a key milestone that provides an avenue for us to sell not only Phivida products but CBD products from other, reputable companies," said David Moon, Interim CEO of Phivida. "Wikala combines current online shopping trends with that of CBD wellness products. Our goal for 2020 is to rapidly increase the number of CBD products and vendors that exist within our eCommerce ecosystem."

Customers can browse and purchase quality CBD products online securely and with ease. Wikala has added comprehensive product search, comparison, and navigation features that help CBD consumers find the products they need.

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 phivida.com.

Cautionary Note Regarding Forward-Looking Information

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. Forward-looking statements and information in this news release relate to future events or future performance and include statements about expectations regarding Phivida's business. Forward-looking statements and information are based on assumptions believed to be reasonable by management of the Company at the time they were made, including assumptions regarding the cannabis industry. Since forward-looking statements and information address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated or implied due to a number of factors and risks, including but not limited to delays, increased competition, changes in consumer demand and preferences, and legal and/or regulatory changes.  Accordingly, readers are cautioned not to place undue reliance on forward-looking statements and information. The forward-looking statements and information contained in this news release are made as of the date of this news release and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws or the policies of the Canadian Securities Exchange. The forward-looking statements and information contained in this news release are expressly qualified in their entirety by this cautionary statement. Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accepted responsibility for the adequacy or accuracy of this release.

SOURCE Phivida Holdings Inc.

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