$PLPL announced that it closed the license agree

$PLPL announced that it closed the license agreement with Diego Pellicer, Inc. which will permit the company use of the Diego Pellicer name for its Phytofare cannabis extract in medical and pharmaceutical marijuana applications

2014-02-07 09:02 ET SEATTLE, WAvia eTeligis Planda Biotechnology, Inc. (OTCQB LPL), a producer of highly bioavailable plant extracts for industries including health, wellness, nutraceutical, and pharmaceutical, today announced that it closed the license agreement with Diego Pellicer, Inc. which will permit the company use of the Diego Pellicer name for its Phytofare cannabis extract in medical and pharmaceutical marijuana applications.

Roger Baylis-Duffield, Chairman and Chief Executive Officer of Planda Biotechnology, commented, "I want to congratulate the management teams of both Diego Pellicer and Planda for working diligently to move from a letter of intent to an executed license agreement in such a short time.Diego Pellicer has been the leading name in cannabis products for over a hundred years and represents everything that Planda stands for from a product standpoint; namely, an exhaustive dedication to quality.As we move forward towards having a market-ready product by the end of the year, we can commence building our branding and distribution channels."

Planda will produce the new Diego Pellicer Gold extracts in both capsules and cannabis oil (for vapor use) in Pheroid and non-Pheroid versions to appeal to the broadest range of medicinal consumers.

Under the terms of the executed license agreement, Planda can use the Diego Pellicer brand name for business-to-business sales and marketing in both domestic and international markets.Planda anticipates that the Diego Pellicer Gold extracts will be sold to various medical cannabis dispensaries in areas where such business is legal.

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