SEATTLE, WA—February 7, 2014 —Plandaí Biotechnology, Inc. (OTCQB: PLPL), 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 Plandaí Biotechnology, commented, "I want to congratulate the management teams of both Diego Pellicer and Plandaí 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 Plandaí 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."
Plandaí 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, Plandaí can use the Diego Pellicer brand name for business-to-business sales and marketing in both domestic and international markets. Plandaí anticipates that the Diego Pellicer Gold™ extracts will be sold to various medical cannabis dispensaries in areas where such business is legal.
About Plandaí Biotechnology, Inc.
Plandaí Biotechnology, Inc. and its subsidiaries develop highly bioavailable, phytonutrient rich extracts which are being utilized to deliver a new family of drugs to safely and affordably treat a multitude of diseases and conditions. Plandaí Biotechnology controls every aspect of the process, from growing the raw materials on its farms in South Africa, to producing its patented Phytofare™ extracts in-house, allowing the Company to guarantee the continuity of supply as well as quality control throughout the entire process. Targeted industries for the Company's products include beverage, cosmeceutical, wellness, nutraceutical, anti-aging, and pharmaceutical. For more information, please visit http://www.plandaibiotech.com.
Safe Harbor Statement
The information provided may contain forward-looking statements and involve risks and uncertainties. Results, events and performances could vary from those contemplated. These statements involve risks and uncertainties which may cause actual results, expressed or implied, to differ from predicted outcomes. Risks and uncertainties include product demand, market competition, and Plandaí's ability to meet current or future plans. Investors should study and understand all risks before making an investment decision. Readers are recommended not to place undue reliance on forward-looking statements or information. Plandaí is not obliged to publicly release revisions to any forward-looking statement, to reflect events or circumstances afterward, or to disclose unanticipated occurrences, except as required under applicable laws.
SOURCE: Plandai Biotechnology, Inc.