Love that desire gel! Enertopia builds new sexual health line, teams up with Maureen McGrath for first product
Mon 10:07 am by Deborah Bacal
The product, known as V-Love TM for Women, is a desire gel that will be available for sale in Canada soon, and in the US later this year. Enertopia (OTCBB:ENRT) (CSE:TOP) has launched a new product line for women's sexual health, representing the Canadian company's first step in its new strategic plan for the alternative health and wellness sector.
The product, known as V-Love TM for Women, is a desire gel that will be available for sale in Canada soon, and in the US later this year.
To launch the line, the company has inked a partnership with Maureen McGrath, the host of the popular Sunday Night Sex Show on CKNW Radio and a registered nurse in the field of sexual health for both men and women. She has a private practice in Vancouver.
Enertopia's second product in the line will be V-Love TM infused with CBD (cannabidiol) from industrial hemp oil, which will be available exclusively in the U.S. as these products are not yet legal under federal law in Canada. The company is planning to launch additional products for the growing sexual health market, for which industry sales surpassed $20 billion last year.
Its goal is to begin generating cash flow from its sexual health initiatives as soon as possible, it said, immediately focused on opportunities in the CBD-sectors derived from hemp.
CBDs, also known as cannabidiols, are known to have antioxidant properties and as such, can be infused into a number of products, for the treatment of a wide variety of oxidation-associated diseases such as ischemic, age-related, inflammatory and autoimmune disorders.
The company said that during its research in the medical marijuana field, it became apparent that proper education is "paramount" for people to regain their lives.
"Everyone has to be their own personal advocate for better health," said president and chief executive officer, Robert McAllister, in a release.
Last April, Enertopia announced plans to team up with Lexaria (CSE:LXX) to co-own and co-operate a medical marijuana grow facility in Canada, a process which has been delayed by ongoing challenges and evolving regulations in the Canadian medical marijuana market. The facility is currently 30,000 square feet, with the companies having a right of first refusal to expand the site by another 45,000 square feet to accomodate future growth.
The licensed producer application for the facility, which was submitted last July to Health Canada, was at the enhanced screening process in early December. The license is to produce 10,000 kg of medical marijuana per year.
In an update to shareholders late Friday, Enertopia said that while it continues to pursue its application, it has realized that the time required to move through the licensing process has been extended due to two pending court cases, the first of which is to be heard on February 23rd.
Enertopia was the first public company in Canada to originally announce its intention to participate in the medical marijuana marijuana sector in November 2013. It has a 51 percent interest in the joint venture and is obligated to pay 45 percent of initial and ongoing costs, with Lexaria holding the remaining stake.
"We believe these [sexual health] efforts will help us to build significant shareholder value while we go through the lengthy MMPR [Marijuana for Medical Purposes Regulations] licence granting process," the company said in its statement.