Lifespot teams up with market leading IONIC
Lifespot Health Ltd (ASX:LSH) has signed an exclusive Heads of Agreement with IONIC Brands Corp. (CSE:IONC) (OTC:IONKF) (FRA:IB3) to develop and distribute Lifespot’s software and vaporiser technologies.
IONIC is focused on building a multi-state, consumer-focused cannabis concentrate brand portfolio focusing on the premium and luxury segments.
The cornerstone brand of the portfolio, IONIC, is the leading vaporiser brand in Washington State and it has aggressively expanded throughout the west coast of the US.
The brand is currently operating in Washington, Nevada, Oregon and California.
IONIC’s strategy is to be the leader of the highest-value segments of the cannabis market while expanding nationally.
Lifespot Health via its subsidiaries, Seng Vital and Bodytel GmbH, will provide its Bluetooth enabled vaporisers that can be used for recreational cannabis and the Bluetooth BodytelTM platform that collects and manages consumer data in a compliant record keeping system that is beneficial to consumers and meets privacy regulations.
Lifespot’s Bodytel has proven track record
This is one of Lifespot’s proven areas of expertise as it is involved in connecting medical diagnostic devices and digital medicine delivery systems via Bluetooth and Smart device APPs to cloud based ISO13485 accredited Bodytel patient management system.
The company’s systems and applications are user-friendly cloud and smartphone-based.
The group’s German based BodyTel system is based on modern and future-proof internet technology utilizing advanced technologies such as document-based databases and biological neural networks.
Lifespot and IONIC anticipate that a binding Joint Venture Agreement and Distribution Agreement will be completed within 60 days to formally implement the Joint Venture.
The JV provides 12 months exclusive distribution to IONIC in the United States and Canada and IONIC-owned Astleys of London in the UK.
Additional territories maybe added over time as needed to meet market demand.
Under the Heads of Agreement, the parties intend to collaborate in the development, production and distribution of integrated smart vaporiser products and systems for the recreational cannabis market.
Shipping to commence in September quarter
A purchase order for an initial series of vaporiser and software technologies has been received and will be manufactured exclusively for IONIC.
The company is expected to commence shipping in September quarter of 2019.
Independent of the JV, Lifespot will continue to focus on its product innovation and business development activities with respect to its medical use vaporizer products and systems.
Highlighting the significance of this development, Lifespot executive chairman Rodney Hannington, said, “We are delighted to announce this Heads of Agreement with IONIC, a leading manufacturer and distributor of cannabis concentrate products in the US.
“The company brings hardware and software solutions to IONIC’s great brands and strong and rapidly expanding distribution network.
IONIC chairman and chief executive John Gorst underlined the importance of best of breed delivery and dosing technology in saying, “Smartphone Bluetooth technology is the future of cannabis delivery and dosing.
“The company is ecstatic to offer consumers advanced delivery technology that, before this agreement, was only available to medical patients.
“IONIC’s launch and distribution of the Slim-line Vape is expected to start in September quarter of 2019 in Washington, Oregon, Nevada and California.
“The Slim-line Vape is the first Bluetooth enabled vaporiser and platform designed specifically for the use of cannabis.
“Our devices will allow for individual controlled dosing, with maximum safety, and the ability to track and measure progress, including through the use of an innovative fingerprint system.”
Importantly, the implementation of the JV includes the development of integrated quality management systems to ensure strategic and expeditious market entry of new products, and establishment of a highly scalable manufacturing footprint that ensures high volume demand can be met with high quality manufacturing standards.