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Amarantus Bioscience to establish hemp-based JV with The Alchemist's Kitchen.

Amarantus Bioscience announced that it has entered into a letter of intent, or LOI, with The Alchemist's Kitchen, a plant-based wellness company marketing the Plant Alchemy brand of health and wellness products, to establish a joint venture, or JV, for commercialization of hemp based herbal smokable products in addition to conducting research for cannabinoid derived addiction treatment, including smoking cessation and other indications such as insomnia. The initial equity ownership of Evolver Herbal Smokes will be 19.99% for Amarantus, and 80.01% for The Alchemist's Kitchen and/or its affiliates. Amarantus will have the right to acquire the remaining 80.01% equity of Evolver Herbal Smokes in conjunction with the listing of its common shares onto a national stock exchange. Under the terms of the agreement, The Alchemist's Kitchen's 'Plant Alchemy' brand, an ultra-premium brand of health & wellness products that include federally legal hemp derived cannabidiol, or CBD, products, will be the brand used for the products produced from the joint venture. The Alchemist's Kitchen is currently selling Plant Alchemy hemp-based smokable products out of their storefront in the Lower East Side in Manhattan, New York, and will contribute that currently selling Plant Alchemy smokable product line to the JV. Amarantus will contribute capital to the JV, will deploy its clinical development expertise and work closely with The Alchemist's Kitchen to conduct clinical research on the use of the Herbal Smokes.

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Publication:The Fly
Date:Jun 25, 2019
Words:232
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