Jeffs' Brands: SciSparc Nutraceuticals was Granted an Exclusive License for the Sales of CannAmide™ on the Amazon Marketplace in Canada
07 6월 2023 - 9:05PM
Jeffs' Brands Ltd (the “Company” or “Jeffs' Brands”) (Nasdaq:
JFBR), a data-driven e-commerce company operating on the Amazon
Marketplace, today announced that SciSparc Nutraceuticals Inc.
("SciSparc Nutraceuticals"), in which the Company owns a 49% equity
interest, has entered into an exclusive license and distribution
agreement to sell and market CannAmide™ on the Amazon.com
marketplace in Canada (“License Agreement”). The exclusive license
was granted by SciSparc Ltd. (Nasdaq: SPRC), a specialty
clinical-stage pharmaceutical company focusing on the development
of therapies to treat disorders of the central nervous system.
CannAmide™ is an immediate unique
palmitoylethanolamide (PEA) oral formulation for the reduction of
chronic pain and inflammation. CannAmide™ is currently available in
tablet form, with each dose containing a 400mg active
pharmaceutical ingredient. It has been designated a product license
issuance from the Natural and Non-prescription Health Products
Directorate (NNHPD) from Health Canada, for sale as a supplement
within the nutraceuticals market. PEA is a cannabinoid mimetic
lipid molecule found throughout the body, including the central
nervous system. Similar to cannabinoids, PEA has been shown to have
neuroprotective, anti-inflammatory, analgesic and anti-convulsant
properties.
SciSparc Nutraceuticals’ business focusses on
the sale of hemp seeds’ oil-based products on the Amazon.com
marketplace, under the brand Wellution™. SciSparc Nutraceuticals
plans on expanding its reach by marketing its brand's products in
additional global markets and by broadening its products'
offering.
Pursuant to the License Agreement, SciSparc
Nutraceuticals will purchase CannAmide™ at a cost price plus 3% of
gross revenues. The License Agreement is for a term of 12 months
and may be terminated by either party with 30-days’ advance notice.
The License Agreement also contains customary representations,
warranties, covenants and indemnification provisions.
About Jeffs’ Brands Ltd
Jeffs' Brands Ltd is transforming the world of
e-commerce by creating and acquiring products and turning them into
market leaders, tapping into vast, unrealized growth potential.
Through our stellar team’s insight into the FBA Amazon business
model, we’re using both human capability and advanced technology to
take products to the next level. For more information on Jeffs’
Brands Ltd, visit https://jeffsbrands.com
Forward-Looking Statement Disclaimer
This press release contains “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended, that are intended to be covered by the “safe
harbor” created by those sections. Forward-looking statements,
which are based on certain assumptions and describe our future
plans, strategies and expectations, can generally be identified by
the use of forward-looking terms such as “believe,” “expect,”
“may,” “should,” “could,” “seek,” “intend,” “plan,” “goal,”
“estimate,” “anticipate” or other comparable terms. Instead, they
are based only on our current beliefs, expectations and assumptions
regarding the future of our business, future plans and strategies,
projections, anticipated events and trends, the economy and other
future conditions. Because forward-looking statements relate to the
future, they are subject to inherent uncertainties, risks and
changes in circumstances that are difficult to predict and many of
which are outside of our control. Our actual results and financial
condition may differ materially from those indicated in the
forward-looking statements. Therefore, you should not rely on any
of these forward-looking statements. Important factors that could
cause our actual results and financial condition to differ
materially from those indicated in the forward-looking statements
include, among others, the following: our ability to adapt to
significant future alterations in Amazon’s policies; our ability to
sell our existing products and grow our brands and product
offerings, including by acquiring new brands and expanding to FBM;
our ability to meet our expectations regarding the revenue growth
and the demand for e-commerce; the overall global economic
environment; the impact of competition and new e-commerce
technologies; general market, political and economic conditions in
the countries in which we operate; projected capital expenditures
and liquidity; the impact of possible changes in Amazon’s policies
and terms of use; and the other risks and uncertainties described
in the Annual Report on Form 20-F for the year ended December 31,
2022, filed with the U.S. Securities and Exchange Commission (the
“SEC”) on April 10, 2023,and our other filings with the SEC. We
undertake no obligation to publicly update any forward-looking
statement, whether written or oral, that may be made from time to
time, whether as a result of new information, future developments
or otherwise.
Investor Relations Contact: Michal Efraty Adi and Michal PR- IR
Investor Relations, Israel +972-(0)52-3044404 michal@efraty.com
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