Exclusive Agreement with Oettinger Brewery for Cannabis-Infused Beverages signed
Vancouver, Canada (May 12, 2020) – XPhyto Therapeutics Corp. (CSE:XPHY / FSE:4XT / OTC:XPHYF) (“XPhyto” or the “Company”) is pleased to announce that it has signed a standstill agreement and letter of intent (the “Agreement”) for cooperation in the field of development, production, and distribution of new cannabis-infused beverages and products with the renowned German brewery OETTINGER Brauerei GmbH (“Oettinger”). XPhyto and Oettinger have agreed to pursue the signing of an exclusive definitive agreement in due course, specifically for creating new cannabis-related beverages and products.
The German-based Oettinger brewery is based on a centuries-old tradition and has extensive experience and capacities in development, production, marketing and distribution of beers and non-alcoholic beverages. Oettinger beer is not only one of the best-selling beers in Germany, it is also internationally recognized as one of the largest brewery groups in the world.
“With so much strength and experience in the European beverage industry, Oettinger is an ideal partner for XPhyto. We very much look forward to this collaboration,” said Hugh Rogers, CEO of XPhyto. “In partnership with Oettinger and supported by Weihenstephan, we plan to establish ourselves as first-movers in Europe in this important and fast growing market.”
XPhyto will continue its exclusive cannabis research and development agreement with the chair of brewing and beverage technology at the Technical University of Munich (“TUM”), School of Life Sciences Weihenstephan (“Weihenstephan”), first announced September 9, 2019. Weihenstephan is home to the International Beverage Research Center Weihenstephan (the “iGZW”), a best-in-class interdisciplinary research and development center, capable of handling the entire drink design process chain – from basic molecular biology research through biotechnology processes to the final product. With a start-up cost of EUR 22 million, the iGZW includes a state-of-the-art pilot brewing plant which makes it possible to run a variety of trials to manufacture a broad range of beers in accordance with the German Purity Law and other fermented beverages using un-malted cereals and alternative starch carriers, as well as nonfermented beverages.
The chair of brewing and beverage technology has a well-earned reputation for expertise in the field of food and beverage science with an emphasis on commercial applicability. The institution has a specific focus on flavor-process-engineering, raw material and product design, food safety, and relevant legislative issues, such as EU designated “novel foods”.