Oral pouch and dip initial licensing agreement for 10-year term, option for another five and possible expansion to all of North America and Europe.
Smokeless CBD dip brand Cannadips CBD will partner with Lexaria Bioscience Corp., a global innovator in drug delivery platforms, to use Lexaria’s patented DehydraTECH technology for faster, irritation-free absorption of the CBD in its products.
Cannadips CBD is America’s leading and oldest oral pouch, similar to a snus pouch, formulated with CBD from American hemp. Each tin of Cannadips contains 15 pouches with 10mg of hemp-derived CBD per pouch, no tobacco and no nicotine, and only natural sweeteners. Lexaria, already established as the leader in CBD oral delivery, has been working behind the scenes with the team at Cannadips’ parent company The Boldt Runners Corp. to elevate the product experience.
Lexaria’s DehydraTECH technology is highly suited to improve the dipping experience through its fast-acting, high absorption technology. Because Cannadips uses terpene-rich multi spectrum oils as base ingredients, DehydraTECH is able to reduce throat irritation normally associated with some terpenes.
“In our quest to create the ultimate smokeless, oral cannabinoid experience for our customers, we found that the DehydraTECH technology solves many challenges and propels the product forward as we pioneer this product category,” said Case Mandel, co-founder and CEO of The Boldt Runners Corp.
The Cannadips brand is widely distributed. Mandel said the company is currently in process of rolling out its tins nationally with Circle K and is already in approximately 5,000 stores in the United States, with additional distribution in Europe through a partnership with Spectrum Leaf.
“Through our strong distribution partnership with Kretek International, and our family of strategic retail partners – including Sheetz, Kwiktrip and Circle K – we are stoked for the DehydraTECH technology to shine through our tins,” said Mandel.
Lexaria CEO Chris Bunka said his company is very happy to be working with Cannadips to create next generation dipping products demonstrably better than any competitor product.
“We feel that with our technology, and our team backing the Boldt Runners, we can continue to push the boundaries of the category in partnership even further,” said Bunka.
The licensing agreement provided by Lexaria grants Cannadips CBD exclusive rights for the U.S. market for 10 years; a renewal option for an additional five years; an option to expand the license to Europe, Mexico and/or Canada; and contains minimum performance provisions in order to maintain exclusivity.
For further information visit www.cannadipsCBD.com.