CEN Biotech Inc. (FITX) Enters into Licensing and Operating Agreement with RXNB Inc. for Technology Use and Transfer for Worl...
January 31 2014 - 7:00AM
Access Wire
MADISON HEIGHTS, MI / January 31, 2014 / ACCESSWIRE
/ Creative Edge Nutrition, Inc. (PINKSHEETS: FITX), is proud
to announce that it has entered into a licensing and operating
agreement with RXNB Inc. RXNB Inc. has a portfolio valuation of
$110 million dollars and approximately $27.5 million dollars in
annual revenue. It represents a recent merger of a multitude
of independent companies in the pharmaceutical and nutraceutical
space.
RXNB Inc. is an investment company with holdings in drug
formulation, manufacturing, and distribution. It also has a
pharmacy division, which dispenses prescription drugs direct to
approximately 50,000 patients per month in the USA. It has holdings
in dietary supplement manufacturing, retail and e-commerce
nutrition, and a dietary supplement distribution and fulfillment
company, which sells direct to stores around the world.
RXNB Inc. has numerous patents pending in the field of THC
research and development and possesses technology pending patents
which supply cutting edge grow technologies in the field of medical
marijuana. In particular, these technologies and pending patents
focus on the cGMP manufacturing and growing process of medicinal
marijuana.
RXNB Inc. also owns a distribution network which supplies
approximately 2700 clinicians with tailored functional medicine
across the US. It operates its own call center and owns
software technologies in the field of tailored specialty drugs and
batch record keeping in compliance with USP 797. In addition, it
owns software technologies which maintain and perform features of
compliant monthly auto shipment processes. It has a grass
roots national sales force which calls upon, sells and educates
physicians nationwide.
Bill Chaaban, President and CEO stated, "We are extremely
excited to have entered into a licensing and technology transfer
agreement with RXNB Inc. RXNB Inc. has numerous divisions and
specialties in the Drug and Dietary Supplement field. It
possesses expertise in the manufacturing of drugs and dietary
supplements in a GMP and cGMP environment. It possesses
patents pending in grow technologies which will allow a perpetual
grow cycle of approximately 35 days; significantly reducing the
traditional grow cycle for medical marijuana. In addition, it also
possesses technologies which will aid in the growth of medicinal
marijuana in a sterile environment. This inhibits the adulteration
and infestation of our plants. This could save millions of dollars
per year in lost revenue. We have also licensed grow
technologies which will significantly increase our yield per plant
per square foot. Maximizing efficiencies and minimizing risk
through sterile cGMP containment procedures."
Like us on Facebook
https://www.facebook.com/CenergyNutrition
Safe Harbor Notice This press release may contain
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995, such as statements
relating to financial results and plans for future development
activities, and are thus prospective. Forward-looking statements
include all statements that are not statements of historical fact
regarding intent, belief or current expectations of the Company,
its directors or its officers. Investors are cautioned that any
such forward-looking statements are not guarantees of future
performance and involve risks and uncertainties, many of which are
beyond the Company's ability to control. Actual results may differ
materially from those projected in the forward-looking statements.
Among the factors that could cause actual results to differ
materially from those indicated in the forward-looking statements
are risks and uncertainties associated with the Company's business
and finances in general, including the ability to continue and
manage its growth, competition, global economic conditions and
other factors discussed in detail in the Company's periodic filings
with the Security and Exchange Commission. The Company undertakes
no obligation to update any forward-looking statements.
Contact: Jeff Thomas (313) 655-1669 Email:
Info@cenergynutrition.com
Source: Creative Edge Nutrition, Inc.
Creative Edge Nutrition (CE) (USOTC:FITX)
Historical Stock Chart
From Jun 2024 to Jul 2024
Creative Edge Nutrition (CE) (USOTC:FITX)
Historical Stock Chart
From Jul 2023 to Jul 2024