Canadian Bioceutical Subsidiary Launches New Marketing Initiative in the United States
TORONTO, ON / ACCESSWIRE / March 31, 2015 / CGX Life Sciences Inc., (“CGX”) a wholly owned subsidiary of the Canadian Bioceutical Corporation (TSX Venture: BCC) has announced a new marketing plan for its nutraceutical products intended to more aggressively expand its U.S. sales.
The new initiative includes a non-exclusive agency agreement with a well-established, independent network of medical sales representatives who will present CGX’s products to medical practitioners and other healthcare institutions throughout the U.S. CGX currently markets CinG-X, a patented product which aids in balancing blood glucose (www.cingx.com) as well as several other nutraceuticals fully described on its new website www.cgxlifesciences.com. CGX has entered into an agreement with ProviderMax, an independent medical representative firm based in Tampa, Florida.
ProviderMax’s principal, Eric Karukin states that “Our firm presently consists of 30 independent medical representatives and we expect to increase this number substantially in the very near future. Our focus is selling to doctors and the medical community and we have been looking for other products to market. I was introduced to CinG-X about 1 year ago and really loved this product. We are very pleased that CGX will be expanding their product line and we will commence our marketing efforts of these products in about 10 days.”
New marketing materials are being developed by CGX along with its new website www.cgxlifesciences.com. New products announcements will be forthcoming and CGX will be introducing new CBD oil products to the US market.
Distribution will be managed through CGX’s existing contract facility in Van Nuys, California and CGX will also continue its on-line direct marketing efforts.
CGX’s Chief Marketing Officer, Michael Arnkvarn states, “We believe that there is great market potential by selling indirectly through health care practitioner’s both through traditional or alternative health channels. A strong team of knowedeable representatives is necessary to accomplish this goal and we believe that with ProviderMax, we have all the elements in place to achieve our goals. We are definitely excited about adding new products to our line and we intend add to our line-up in the near future.”
About The Canadian Bioceutical Corporation
BCC, formerly Allegiance Equity Corporation, is an Ontario corporation that, for over two decades has been developing unique standardized mass-market nutraceutical products for the treatment of common ailments where present pharmaceutical treatments and over-the-counter products fail to meet the needs of patients. BCC has targeted markets having clearly identified product deficiencies and dissatisfied consumers afflicted with a variety of medical conditions. BCC obtains regulatory approval and patents for these unique compounds and formulations and may produce and distribute or license its products for royalty revenues.
BCC’s principal brands are CinG-X(TM) and Relieva(TM) and the company, through its subsidiary BioCannabis Products Ltd. and, subsequent to receiving its MMPR license from Health Canada and the potential revision of these regulations, BioCannabis will be launching a series of new cannabis-based branded medicinal products to address this rapidly-evolving market.
Additional details in relation to BCC’s plan to enter into the medical marijuana sector may be found in the company’s two News Releases of January 7, 2015.
CSA Investor Caution
Investors should be aware that companies cannot legally conduct a medical marijuana business without a license from Health Canada and that there is significant time and cost required to obtain such a license. As a publicly-traded company publicizing its intention to enter the medical marijuana industry, BCC urges potential investors in any company in this sector, to become familiar with the required resources and the related risks, costs implications and time required before a company will be able to begin licensed operations. There is no assurance that any company announcing its intent to enter the medical marijuana industry will be successful in obtaining a license or in creating shareholder value.
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, the Transaction and BCC’s objectives and intentions. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic and social uncertainties; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; delay or failure to receive board, shareholder or regulatory approvals; those additional risks set out in BCC’s public documents filed on SEDAR at www.sedar.com; and other matters discussed in this news release. Although BCC believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, BCC disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the Policies of the Exchange) accepts responsibility of the adequacy or accuracy of this release.
For further information please contact:
Scott Boyes, President and CEO
SOURCE: Canadian Bioceutical Corporation