Earth Science Tech Inc (OTCMKTS:ETST) a unique biotech firm focused on cannabis, cannabinoid research and development, pharmaceuticals and nutraceuticals signed a joint venture deal with a renowned nutritional supplement firm, Nutrition Specialties and its segment Forzagen, which will get a foothold for the firm in the sports supplement industry.
The details
Earth Science will share R&D, and manufacturing spaces with Forzagen and Nutrition Specialties in order to assess numerous expertise synergies. Nickolas Tabraue, the COO and President, will coordinate with Nutrition Specialties and Forzagen to advance new, full-spectrum industrial hemp sports supplements and directly enter the sports supplement commerce both internationally and domestically.
The company will offer its branding, sales, supply, formulation and marketing services to Nutrition Specialties and its unit Forzagen in lieu for connections to global distributors in the supplement market. Nutrition Specialties have existing global contracts with leading brands such as Sam’s Club and Costco. Moreover, all new products advanced with company’s CBD ingredients will comprise the firm’s logo on its packaging. It will help generate brand awareness to the audiences that these brands service.
The firms are hard at work on getting CBD-based nutritional sports supplements. They plan to update shareholders on latest developments by the second quarter, with a release date mid-2017. This association is enormous for both firms. Earth Sciences can offer their cannabis industry expertise, CBD research and development, formulation and supply services to Nutrition Specialties and its unit Forzagen. At the same time, they can offer with access to updated sports science knowledge, an expert lab team, and a larger supply chain compared to what Earth Science have been involved with.
It could be a driving force for them that really springboards company to the next level as a leader in the CBD Industrial Hemp sports supplement industry. As per the last close price, the market cap of Earth Science stands at $17.81 million.
