VANCOUVER and
Some of the exciting developments include:
- DermSafe® - An Unprecedented Opportunity: Ovation's opportunity with DermSafe is unprecedented due to not only the current high demand for hand sanitizers, but the on-going need for hand protection globally for years to come. DermSafe is alcohol-free so does not dry out your hands and 1 application is proven to deliver a 4 hour kill on viruses and bacteria. The demand for DermSafe continues to grow at a rapid rate and as a result the Company has put significant focus on both regulatory approvals, manufacturing and fulfilling purchase orders:
- Ovation has scaled up its ability to deliver DermSafe by making major raw ingredient purchases in addition to ordering 1.5 million bottles; all to be paid in full and without financing. In order to increase our manufacturing capacity, we have selected additional manufacturers in the US and
Canada . This will more than triple our current capacity. It will also allow Ovation to complete global inquiries for orders and to facilitate the continuous demand from new incoming orders. Currently the Company has USD$875,000 (Approximately$1.3 million Canadian) of DermSafe inventory manufactured and ready to ship. - Internationally, the Company has announced sales of DermSafe to
China , theUnited Kingdom andCanada ; with additional orders continuing to be received. In the past quarter, Ovation has received requests fromKorea ,Japan ,Israel ,Brazil , Columbia,Mexico ,Kuwait andGreece . - DermSafe has been accepted by
Health Canada under its list of "Disinfectants and hand sanitizers accepted under COVID-19 interim measure". This further validates DermSafe as an approved product to help fight this pandemic, in addition to the Drug Identification Numbers (DIN) already in place for two DermSafe products (personal use and personal commercial use). - OTCQB Listing In Progress: In March Ovation began the process to inter-list in
the United States on the OTCQB. Along with our Canadian Securities Exchange listing (symbol: OVAT), we believe an OTCQB listing (symbol: OVATF) will increase our visibility and provide greater opportunities for our current and future shareholders. We will provide updates on this listing as soon as it is completed. - US and Canadian Patent Applications: On
February 25, 2020 we announced the filing of Ovation's first provisional patent application with theU.S. Patent and Trademark Office (USPTO). This was followed shortly thereafter with a filing inCanada . These applications represent our highly effective ability to deliver cannabinoids transdermally using Invisicare® technology. - Cannabis / Hemp: Ovation's own CBD (from hemp) product lines Invibe® MD and ARLO CBD Beauty products continue to be sold on our e-commerce platforms and are being represented by various brokers in the US for potential regional and national retail distribution. Our licensee in the
USA for State approved dispensaries continues to increase sales with our topical and transdermal hemp and cannabis products. Three of our formulations continue to rank in the top 5 selling products inNevada (Source: Headset.io); and have remained in the top 5 for over the past 12 months. We believe thatOvation Science is strongly positioned to capitalize on this continued growth in 2020, not only in theUSA but globally as we discuss additional licensees. - Increased Investor Relations Support: We are using various channels to increase our level of shareholder communication and engagement. Along with news releases, social media and person-to-person investor calls, the Company has had two new videos produced, one with Chinese translation. Both videos can be found on our investor page at https://ovationscience.com/investors/ or these links:
(1) https://www.youtube.com/watch?v=jpSZysifvrg&feature=youtu.be (This is being shown daily on BNN Bloomberg (Business News Network) inCanada ).
(2) https://ovationscience.com/investors/#single/0 (CEO Interview)
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