VANCOUVER, British Columbia, May. 15, 2019 (GLOBE NEWSWIRE) – Bougainville Ventures Inc. (CSE:BOG) (Frankfurt:8BV) is pleased to announced it has signed a Sponsored Research Agreement to develop a one of a kind water soluble cannabis-based (CBD) supplement energy drink to improve workout performance.
Pursuant to its agreement with an Israeli based research firm Bougainville agrees to fund certain CBD-based research projects like CBD-Oils, CBD-Creams, and CBD-Supplements. The first project will be to develop a formula, which will be a water soluble cannabis-based (CBD) supplement to boost energy and to improve workout performance.
Terms of the Agreement
Bougainville will pay a 5% Royalty from the sale, transfer or order disposition of the product, for a period of six (6) years from the completion of the product. Bougainville will have exclusive rights to commercialize the product in Canada and first right of refusal to commercialize the product in the US.
Bougainville Shall pay the Israeli based research firm $25,000 USD upon the execution of the Definitive Agreement by non-refundable check dated July 1, 2019. And an additional $50,000 USD shall be paid by Bougainville in favor of the research firm based on milestones.
Israel is at the Forefront of Medical Cannabis Research
Israel is one of the most progressive nations for medical marijuana research comes courtesy of the government’s involvement. Not only do they sponsor the majority of clinical trials, but the Israeli military has endorsed the cannabinoid THC as part of a treatment program for post-traumatic stress disorder (PTSD). In 2017 Israel saw more than 110 clinical trials take place. Their topic of study included cannabis as a treatment for Parkinson’s, multiple sclerosis (MS), Crohn’s disease and several other forms of chronic pain. Israel dominates the medical marijuana research space and the Government has plans to build one of the world’s most extensive medical cannabis research and development facilities in the world.
Andy Jagpal, President Comments;
“We are excited to strike a relationship to develop a CBD infused energy drink as Canada’s edible marijuana market is around the corner from being fully legal within the year. We are also in contact with processors in Canada to manufacture the energy drink and with our Saskatchewan based hemp farmers to source the CBD for our products.”