Sugarmade
Signs Binding LOI to Enter Rare Cannabinoid Market via License
Agreement for Patented THC-V Rich Chemovars
NEW YORK,
NY -- January 24, 2022 -- InvestorsHub NewsWire -- Sugarmade, Inc.
(OTC
Pink: SGMD) ("Sugarmade", "SGMD" or the "Company") an emerging
leader in the licensed cannabis sector, is pleased to announce the
signing of a binding Letter of Intent (the "LOI") with GenCann,
Inc. ("GenCann"), the exclusive licensor for a set of cannabis
chemovars particularly rich in the cannabinoid
Tetrahydrocannabivarin (THC-V) (the "GenCann
Chemovars").
Under the
terms outlined in the LOI, Sugarmade and its licensed cannabis
cultivator partnerss
will be
granted a five-year license to cultivate what the Company believes
to be some of the highest THC-V-containing strains in
existence.
Sugarmade
and GenCann plan to begin clone production immediately upon the
signing of the final agreement with a cultivation program beginning
in Lake County, California this spring.
"While
THC-V is sometimes referred to as a 'rare cannabinoid', we believe
the term no longer applies relative to our planned cultivation
effort using GenCann's chemovars," commented Jimmy Chan, CEO of
Sugarmade. "The test results from certified California laboratories
of these chemovars are certainly impressive, with THC-V yields in
flower of up to 8.5%. We think the
GenCann chemovars are a game-changer in the cannabinoid space.
Sugarmade plans to make a substantial commitment to bring products
based on THC-V to the California market and perhaps to other states
in the future. Stay
tuned for our upcoming product plan
announcements"
The
GenCann Chemovars are covered by multiple issued U.S. patents,
including patent numbers PP33212 for the plant called "V1", patent
number PP33211 for the plant called "V2" and patent number PP33210
for the plant called "V3". All three of these chemovars contain
abundant THC-V, with the V1 variety being especially distinguished
by producing more THC-V than THC by percent weight. The V3 strain,
also known as Skelator, will be the predominant strain
planned
utilized for
spring cultivation due to its early finishing characteristics and
its higher THC-V content, although the V1 and V2 varieties are also
planned for Sugarmade's cultivation effort.
Sugarmade
plans to utilize the THC-V rich biomass in a series of products it
plans to introduce to the licensed California marketplace. The
first of these will be THC-V-rich smokeable flower and THC-V-rich
gummy candies.
In the
future, Sugarmade plans to also produce distillate and isolate
products based on its cultivated biomass.
Mr. Chan
continued, "The THC-V smoking and edibles consumption experience is
very different compared to traditional cannabis. Where legacy
cannabis strains often produce a sedating effect, consumption of
THC-V rich products produces a pleasant and uplifting effect. It's
a remarkable experience and we believe consumers will gravitate to
it."
In
addition to seeking to supply the mainstream cannabis marketplace
with THC-V products, Sugarmade also plans to seek pharmaceutical
and nutraceutical partners for supply agreements as many of these
companies are already stating their intentions to conduct trials or
to produce products containing rare cannabinoids.
The
cultivated THC-V cannabinoids from the GenCann chemovars differ
significantly from the current generation of THC-V products
currently available in the marketplace, most of which are
convertedveyed
via a
chemical process from hemp-based isolates. This generation of
products is also very expensive, often priced in the $50 per gram
range, and is typically not tested by certified laboratories.
Additionally, the cannabinoids produced by the GenCann chemovars
differ from planned offerings by other companies that utilize
genetically modified organisms, such as bacteria or yeast, to
create cannabinoids outside of the cannabis plant varieties. All of
the cannabinoids to be generated via the GenCann chemovars and
Sugarmade's cultivation will be produced from real cannabis plants
that have been specifically bred for this purpose and grown in an
outdoor setting.
Sugarmade
and GenCann believe outdoor cultivation of THC-V-rich strains will
yield higher desirable cannabinoid content due to optimal
ultraviolet light levels inherent in natural sunlight.
About
THC-V
THC is
found in the form of tetrahydrocannabolictetrahydrocannabinolic
acid
(THCA) that is converted to THC during drying or under high heat.
Similarly, THCV in live plants is in the form of
tetrahydrocannivarintetrahydrocannabivarin
carboxylic acid
(THCVA). THC and THCV both bind to the cannabinoid receptors 1
(CB1) and 2 (CB2) although the exact effects of binding are not
fully understood. Binding of CB1 by its endogenous ligands,
anandamide or 2-arachidonoylglycerol, stimulates food intake
(Silvestri, C., Di Marzo, V. 17 Cell Metabolism 475-490 (2013)).
THC acts as an agonist of CB1 and stimulates appetite. THCV has
been shown to be a mild antagonist of CB1 and lessens sensations of
hunger (Pertwee, R G. 153 British Journal of Pharmacology 199-215
(2008)). The ability of THCV to act as an antagonist of CB1 has led
to investigation of using THCV to treat metabolic syndrome and
obesity (Riedel, G., et al., 156 British Journal of Pharmacology
1154-1166 (2009)). Selection of a variety producing increased
amounts of THCV allows optimized isolation of THCV which may be
used in treatment of metabolic syndrome.
About
Sugarmade
Sugarmade, Inc.
(OTC
Pink: SGMD) is a product and branding marketing company
investing in operations and technologies with disruptive potential.
Our Brand portfolio includes CarryOutsupplies.com, SugarRush™, NUG
Avenue, Lemon Glow and Budcars. Sugarmade
is also the first licensee of the unique and patented GenCann, Inc.
THC-V rich chemovars.
For
more information, please visit
www.Sugarmade.com.
About
GenCann
GenCann,
Inc. is a newly organized Corporstion dedicated to the introduction
of THC-V to the public.
The
Company organizers are seasoned cannabis cultivators and markets,
based in Mendocino county, California. GenCann, Inc. is the
exclusive licensor of the patented THC-V chemovars know as "V1",
"V2", and "V3".
FORWARD-LOOKING
STATEMENTS: This
release contains "forward-looking statements" within the meaning of
the safe harbor provisions of the U.S. Private Securities
Litigation Reform Act of 1995. Forward-looking statements also may
be included in other publicly available documents issued by the
Company and in oral statements made by our officers and
representatives from time to time. These forward-looking statements
are intended to provide management's current expectations or plans
for our future operating and financial performance, based on
assumptions currently believed to be valid. They can be identified
by the use of words such as "anticipate," "intend," "plan," "goal,"
"seek," "believe," "project," "estimate," "expect," "strategy,"
"future," "likely," "may," "should," "would," "could," "will" and
other words of similar meaning in connection with a discussion of
future operating or financial performance. Examples of
forward-looking statements include, among others, statements
relating to future sales, earnings, cash flows, results of
operations, uses of cash and other measures of financial
performance.
Because
forward-looking statements relate to the future, they are subject
to inherent risks, uncertainties and other factors that may cause
the Company's actual results and financial condition to differ
materially from those expressed or implied in the forward-looking
statements. Such risks, uncertainties and other factors include,
among others, such as but not limited to; economic conditions,
changes in the laws or regulations, demand for products and
services of the company, the effects of competition, uncontrollable
forces of nature and other factors that could cause actual results
to differ materially from those projected or represented in the
forward-looking statements.
Any
forward-looking information provided in this release should be
considered with these factors in mind. We assume no obligation to
update any forward-looking statements contained in this
report.
Corporate Contact:
Jimmy
Chan
+1-(888)-982-1628
info@Sugarmade.com
Investor
Relations Contact:
EDM Media,
LLC
https://edm.media