WEST HILLS, N.Y., Dec. 23, 2013 (GLOBE NEWSWIRE) -- KannaLife Sciences, Inc. ("KannaLife") and Salvation Botanicals, Ltd., ("Salvation") signed a Memorandum of Understanding, setting forth their plans for a North American Joint Venture centered on standardization of botanical medicaments and patient wellness in Canada and the United States. Salvation Botanicals, Ltd. is a Canadian provider of high quality and assured botanicals in dried plant and liquid-oral based phyto-extracts. The intended joint venture between KannaLife and Salvation will focus on the expansion of the Salvation Botanicals brand in the United States and the delivery of KannaPak™ & C-Dashboard™ into the Canadian marketplace.
Cliff Wiltshire, CEO of Salvation stated, "We are led by the practice of excellence, behind Kristina Grotzinger, our CSO, in the creation of medicinal teas and tinctures from a broad spectrum of tested and validated organic plants using pharmaceutical grade disciplines and methods. We are attracted to KannaLife's business of standardization and packaging, as well as their scientific efforts in South Park, CO and Doylestown, PA."
"Having the opportunity to joint venture with Salvation Botanicals in Nanaimo, BC, gives KannaLife an opportunity to enter into the fast growing Canadian ag-bio and naturopathic wellness markets. Along with our business interests in South Park Ventures, it's clear that we are building upon solid foundations in very important agricultural markets," stated Thoma Kikis, CVO of KannaLife Sciences.
About Salvation Botanicals, Inc.
Salvation Botanicals, Inc. is the creator of Blue Lotus™, a phyto-medical extract, derived principally from a highly standardized, consistent biomass, free from pesticide and mold contaminants. The Salvation brand of botanicals includes a variety of teas, chocolates, veterinary food additives for the pet food industry, and standardized botanical extracts as raw materials for various product manufacturers in North America.
Salvation Bioscience, Inc. provides quality control and quality assurance methods as well as consultation services to third parties and market applicants under Marijuana for Medical Producers Regulations ("MMPR") guidelines.
About KannaLife Sciences, Inc.
KannaLife Sciences, Inc. is a late stage bio-pharmaceutical and phyto-medical company involved in the research and development of novel new therapeutic agents designed as neuroprotectants, immuno-modulators and reduce oxidative stress. KannaLife Sciences currently holds an exclusive license with National Institutes of Health – Office of Technology Transfer ("NIH-OTT") for the Commercialization of U.S. Patent 6,630,507, "Cannabinoids as Antioxidants and Neuroprotectants" (the "'507 Patent"). KannaLife is currently conducting research and development at the Pennsylvania Biotechnology Center in Doylestown, PA, for a target drug candidate to treat Hepatic Encephalopathy ("HE"). HE is an oxidative stress related disease that affects the cognitive and behavioral functions, and the wellness of the brain and the liver.
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