Panacea Life Sciences Holdings, Inc. (OTCQB: PLSH), a Colorado-based natural health and wellness company, has inked a Supply, Licensing, and Development Agreement with Sky Wellness, LLC through the former’s Golden-based subsidiary Panacea Life Sciences Inc. The partnership will involve marketing and sales of Sky Wellness’ current CBD product range and development of new offerings under the Sky Wellness brand.
As per the agreement, Sky Wellness will provide its present inventory of branded CBD products to Panacea Life Sciences, who will then market and sell them. According to the revenue-sharing pattern, 40% of net sales will go to Panacea, with the remaining 60% going to Sky Wellness.
Additionally, Sky Wellness has granted Panacea Life Sciences a non-exclusive license to use its intellectual property for Panacea’s manufacturing, marketing, and selling of new products under the Sky Wellness trademarked brands. Although the non-exclusive license is granted, Sky Wellness nevertheless maintains full ownership of its intellectual property under this agreement.
Among the new products to be developed by Panacea under the Sky Wellness brands are D Oh GeeTM, CBD and non-CBD dog chews, and BoneUpTM, a male enhancement product.
“This strategic sales and product development relationship with Sky Wellness adds value to our PLSH stakeholders and expands our existing line of health and wellness products,” said Leslie Buttorff, Chief Executive Officer of Panacea Life Sciences. “We plan to stock our chain of retail Pana Kava JavaTM locations in the Tampa, Florida metropolitan area with Sky Wellness products to complement our PANA Health™, PANA Beauty®, PANA Sport™, PANA Pet®, PANA Pure® and PANA Life™ branded product lines.”
Panacea Life Sciences Holdings, Inc. (OTCQB: PLSH) is a plant-based natural health ingredient and product company, specializing in the development, manufacturing, research, and distribution of products within the burgeoning natural health and wellness market for both humans and animals. Its subsidiary, Panacea Life Sciences, Inc., is committed to manufacturing and distributing premium-quality nutraceuticals, cannabinoids, mushrooms, kratom, and other natural, plant-based ingredients from their cutting-edge 51,000 square foot cGMP facility in Golden, Colorado.
Panacea Distro, another subsidiary of Panacea Life Sciences Holdings, Inc., oversees six retail locations and a distribution center in the Tampa, Florida area. This company’s carefully curated range of products include Nitro Kava, Kratom, Hemp, VAPE products, and various beverages, intended to promote alternative health and wellness. In line with their growth plan, the retail stores will evolve into franchise stores under the name “PANA KAVA JAVA.”
Source: Press Release