VANCOUVER, BC / ACCESSWIRE / February 16, 2020 / Mota Ventures Corp. (CSE:MOTA) (FSE: 1WZ:GR) (OTC: PEMTF) (the "Company") announces that it has entered into a joint venture agreement (the "JV Agreement") dated February 14, 2020, with BevCanna Enterprises Inc. (CSE: BEV, Q: BVNNF, FSE: 7BC) ("BevCanna"), pursuant to which the parties intend to partner in the development of a joint venture (the "Joint Venture") to distribute BevCanna branded products infused with hemp-derived cannabidiol (CBD) in the European market.
The Joint Venture will hold exclusive rights to sell and market BevCanna house brand lines of hemp-derived CBD products in Europe and will operate for an initial five-year term. Of BevCanna's multiple house brands the Joint Venture intends to launch, the parties have agreed to commence operations initially with "LEV", a line of fruit forward lightly sparkling CBD-infused spring water beverages, and water-soluble powders, which incorporates BevCanna's proprietary method for the nano-delivery of cannabinoids.
Under the JV Agreement, the Company and BevCanna will share equal ownership in the Joint Venture and will be jointly responsible for developing and funding its operations. In addition to capital, BevCanna will contribute proprietary brands, product formulations, formulas for nano-encapsulated water-soluble powders, marketing and manufacturing expertise to the Joint Venture. The Company will provide manufacturing, marketing and distribution infrastructure in the European market. The parties have determined an initial product launch and will provide further details on specific regions and timing once finalized.
"Beverages are a healthier way to consume CBD, as they are a non-carcinogenic familiar consumption format and contain precise dosages per serving. Water-soluble cannabinoids are absorbed by the body through the blood stream as opposed to the liver, making the actual dosage ingested more bioavailable and accurate. The absorption rate (bioavailability) of water-soluble CBD is up to two times faster than oil-based products, effectively achieving the same results in less time," stated Joel Shacker, Chief Executive Officer of the Company.
Finalization of the Joint Venture remains subject to the establishment of a joint venture company by the parties, and the licensing and registration of intellectual property for use in Europe.
About Mota Ventures Corp.
Mota Ventures Corp. is seeking to become a vertically integrated CBD company with operations in Europe and the Americas. It's wholly-owned subsidiary, First Class CBD, is a profitable online retailer of CBD and CBD-infused products in the United States and the Company is currently in the process of acquiring Sativida, a successful online retailer CBD and CBD products in Europe. Mota Ventures, through a wholly-owned subsidiary, holds a license to cultivate non-psychoactive cannabis and produce CBD in Colombia and is developing cultivation operations on its 2.5-hectare site in Guasca, Colombia. Mota Ventures believes that low cost CBD production at its property in Colombia coupled with its international, direct-to-customer sales channels will propel its continued success.
About BevCanna Enterprises Inc
BevCanna Enterprises Inc. develops and manufactures cannabinoid-infused beverages and consumer products for in-house brands and white label clients. With decades of experience creating, branding and distributing iconic brands that have resonated with consumers on a global scale, the team demonstrates an expertise unmatched in the emerging cannabis beverage category. Based in British Columbia, Canada, BevCanna has a 292-acre outdoor cultivation site in the Okanagan Valley and the exclusive rights to a pristine spring water aquifer, as well as a 40,000-square-foot, HACCP certified manufacturing facility, with a current bottling capacity of up to 210 million bottles per annum. BevCanna's vision is to become a global leader in infused innovations.
ON BEHALF OF THE BOARD OF DIRECTORS
MOTA VENTURES CORP.
Chief Executive Officer
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.
Cautionary Note Regarding Forward-Looking Statement
All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company within the meaning of applicable securities laws, including with respect to the development and activities of the Joint Venture, its plans to become a vertically integrated global CBD brand, its plans to cultivate and extract cannabis to produce CBD and high-quality value added CBD products in Latin America for distribution domestically and internationally and its plans to acquire revenue-producing CBD brands and operations in Europe and North America. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company's public filings under the Company's SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
SOURCE: Mota Ventures Corp.