Henderson, Nevada – (NewMediaWire) – March 01, 2022 – BioLife Sciences (OTCPK: BLFE) (the “Company” or “BioLife) is pleased to announce that it is expanding its recently announced orthomolecular medicine and natural health products department to now include a subsector dedicated to non-psychoactive cannabinoids derived from industrial hemp, including, but not limited to, cannabidiol (CBD) products.
This new subsector will focus on clinical hemp natural health products in addition to non-psychoactive cannabinoid research and development.
BioLife aims to focus on products highlighting hemp’s naturally occurring cannabinoids (excluding any psychoactive cannabinoids such as THC), with a focus on CBD, CBG and CBN. The company’s focus will be founded in medical products, beverages, creams, salves, efficacious supplements, superfood concentrates, nutraceutical formulations, and advanced orthomolecular and natural health products.
This latest announcement by BioLife is directly founded on the Company’s recent acquisition of Health Box LLC, which facilitated the expansion of the Company’s scope to micronutrients, medicinal herbal supplements, botanicals and holistic merchandise.
CBD usage has steadily increased in the U.S. since 2018, with multiple peer-reviewed studies having confirmed that the cannabinoid may help with a wide variety of ailments and conditions, including, but not limited to, pain, stress, weight loss, anxiety and depression.
The Brightfield Group recently announced projections for the hemp CBD industry to continue to expand in 2022, with a projection of nearly 400% growth to $22 billion by the end of the year.
CBD growth was driven mainly by ecommerce in 2020, as brick and mortar options were limited due to the COVID-19 pandemic. Consumers previously could purchase CBD products at vitamin shops, beauty retailers or medical practitioner’s offices. Even once these brick-and-mortar outlets reopened, e-commerce has maintained a driving force of the industry.
Nika Jaksic, COO of BioLife Sciences, stated that “We believe CBD sales will continue their strong upward trend with current e-commerce sales soon being joined by consumers returning to brick and mortar options, as the pandemic wanes and disposable incomes continue to rise. CBD and other cannabinoids found in the hemp plant are very helpful supplements, as evidenced by continuous studies highlighting that we haven’t even begun to understand all of these healing cannabinoid’s abilities and uses.”
About BioLife Sciences Inc.
BioLife Sciences Inc. specializes in moving innovative products from the lab or small-scale production into wider market adoption. Its core business develops, licenses and distributes antimicrobial products and disruptive technology. One of BioLife Sciences’ core building block strategies is to develop, partner and assist innovative companies with the commercialization of leading-edge technologies.
The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward-looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Forward-looking statements in this news release include, but are not limited to, the ability of the Corporation to complete a qualifying transaction. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Corporation believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. Except as required by law, the Corporation disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
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