Yesterday, Lexaria Bioscience Corp. (OTC:LXRP) (CSE:LXX) announced that they entered a letter of intent (LOI) to license their "proprietary absorption and palatability enhancing technology" to Hempco Food and Fiber Inc. (OTC:HMPPF) (TSXV:HEMP).
Now that the two companies have entered into the LOI, Hempco and Lexaria Bioscience "begin lab tests and formulations this week to evaluate proprietary methods of applying Lexaria’s newly-patented technology for Hempco’s needs and demands. Hempco’s already-excellent award winning food products may be enhanced with Lexaria’s patented technology."
Hempco CEO Charles Holmes commented that "The combination of Hempco’s existing product innovations and proprietary manufacturing methods combined with Lexaria’s patented food flavor-masking and nutrient delivery enhancement technology is hoped to create manufacturing and technology synergies powerful enough to create a quality gap that other hemp food providers and the world’s leading brands in the sector will find difficult to match."
Hempco has a large line of hemp based foods that they both manufacture and distribute across multiple continents. These products include their recently launched PlanetHemp brand of hemp seed based oils, powders and more.
For more recent news and coverage on Lexaria Bioscience, be sure to check out their stock profile in our rapidly growing marijuana stocks database. Stay posted, as we will be adding a stock profile for Hempco Food and Fiber in the coming days. To read Lexaria's press release regarding the LOI, click here.