SEATTLE, March 15, 2018 (GLOBE NEWSWIRE) -- CFN Media Group ("CannabisFN"), the leading creative agency and media network dedicated to legal cannabis, announces publication of an article covering the massive changes taking place at RISE Life Sciences Corp. (CSE:RLSC) (CNSX:RLSC) (RLSC.CN), formerly Luminor Technologies Inc. RISE recently partnered with Constance Therapeutics, changed its name, and changed its ticker symbol to reflect its new focus on introducing cannabis-based wellbeing products starting in California this year. The new focus aims to capitalize on two large and growing markets: Legal cannabis and sexual health and wellness, which form a combined $10+ billion market opportunity.
Focus on Wellness Products
RISE Life Sciences is focused on developing botanical formulations to support adult sexual health and wellness. In partnership with Constance Therapeutics, the company will build and manage a retail sales and distribution channel, as well as deploy a direct sales team to sign top-tier dispensaries, while CT will leverage it new R&D and manufacturing facilities in California to mass produce the new products under license to RISE to sell through these channels. RISE aims to have 240 dispensaries signed up to sell its products by the end of the year.
“Constance Therapeutics represents an evidence-based process,” said RISE Life Science CEO Anton Mattadeen. “Her company has been focused on producing scientifically derived cannabis products for the past 10 years — everything that goes through her process is completely vetted. The botanicals that are used are not haphazard; they’ve actually been tested for efficacy and for their ability to work well with cannabis components. Constance brings a solid scientific base to the formulations that we are creating — she’s making those products better and it places us in the position where we can have constant improvement as we go through the process.”
These products are targeting a large and growing end market in the most populous U.S. state. California’s cannabis revenue is projected to reach $3.7 billion by the end of this year and rise to $5.1 billion in 2019, according to BDS Analytics. These revenue are driven by a maturing market with more dispensaries and cultivation operations coming online every day. At the same time, Grand View Research sees the U.S. sexual wellness market as expanding to $8.8 billion by 2025, thanks to an aging population and new and innovative products.
Adding New Expertise
RISE Life Sciences appointed three new members to its Board of Directors earlier this month, including Chris Dollard, Constance Finley, and Michael Campbell, to help expedite its entry into the new business and ensure its long-term success. These new board members will add tremendous expertise to help guide the company in its new direction.
The new board members include:
- Chris Dollard has served as RISE Life Sciences’ Chief Operating Officer since its inception in 2015 and brings a wealth of knowledge and experience from his work with operational planning and facility design in early cannabis licensed producer applications.
- Constance Finley founded Constance Therapeutics after her own experience with autoimmune disease and the negative side-effects of pharmaceuticals led to her successfully investigate cannabis as an alternative treatment. Since then, the company has rapidly grown in both scale and reputation to focus on creating standardized, whole plant cannabis extracts to capitalize on the entourage effect.
- Michael Campbell is the General Counsel and Corporate Secretary for Intellipharmaceuticals International Inc., which specializes in the research and development of novel and generic controlled and targeted release oral solid dosage drugs.
In addition to the new board members, the company announced the appointment of Robert Lelovic, CPA, CA as Chief Financial Officer. After graduating from York University in 1998, Mr. Lelovic has been a chartered accountant since 2001 with extensive experience working with public company reporting, corporate governance, and compliance. He will replace Chris Carmichael who previously filled the role since the company’s inception.
Please follow the link to read the full article: http://www.cannabisfn.com/rise-life-sciences-gears-build-long-term-value/
For more information, visit the company’s website at www.riselifescience.com.
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