Ovation Science Expands Market Reach with Exclusive Canadian License Agreement

Ovation Science Inc. has entered into an exclusive licensing agreement with Ripco Processing Inc. for its topical and transdermal cannabis products in Canada. This agreement leverages Ovation's Invisicare® technology, targeting the Canadian market's strong demand for cannabis products, estimated at $2.6 billion annually. Ripco, a company with roots in Calgary, Alberta, will manage regulatory processes, manufacturing, marketing, sales, and the distribution of Ovation's products across Canada.

Ripco aims to initiate the distribution in key provinces such as Ontario, Alberta, BC, Saskatchewan, and Manitoba. A notable part of this collaboration is Ovation's anticipated launch of the InVibe®MD product line in early Q3 of 2024, following Ripco's submission of the products for Health Canada's approval. Ripco's strategic partnerships and distribution network, including an alliance with Canadian Olympic Gold Medal Winner Ross Rebagliati and Herbal Dispatch, aim to ensure a robust presence in Canada for Ovation's products.

Ovation Science's President, Terry Howlett, expressed enthusiasm about the partnership's potential to bring innovative cannabis solutions to Canadian consumers and highlighted the value it adds for shareholders through international expansion. The agreement further cements Ovation's strategic plans for revenue growth, market presence expansion, and cash flow increase, amidst its series of agreements aiming for a broader market reach.