Can B Corp. creates a joint venture with PrimeX to make its CBD products available in Brazil

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Provides access to the 4th largest pharmaceutical market in the world and its 210 million consumers

HICKSVILLE, NY, March 03, 2022 (GLOBE NEWSWIRE) — via NewMediaWire — Can B Corp. (OTCQB: CANB) (“Can B” or the “Company”), a health and wellness company specializing in the development, production and sale of hemp-derived cannabinoid products, is pleased to announce the formation of a joint venture joint venture with PrimeX, a marketing, sales and distribution company, for its CBD products in Brazil.

PrimeX has a contract with Biocase Brasil to produce CBD products for the Brazilian market. Biocase is a company focused on: local distribution, an intensive training program for doctors (MD), the production of oils, capsules and creams in local facilities and the development of a biotechnology laboratory for testing and cannabis extraction.

Biocase Brasil has a strong network of doctors in Brazil and offers education, research, product development and testing services for the Brazilian market. Brazil relies on medical clinical trials to test CBD products in new categories, such as beauty, veterinary use and food, before regulations allow distribution to pharmacies and sale online . Biocase Brasil patients also have access to prescriptions and Anvisa licenses!

PrimeX serves 120,000 retailers in Brazil, which includes markets, pharmacies and bodegas, a country that recently approved the sale of CBD products in pharmacies. The joint venture will utilize PrimeX’s existing distribution relationships in Brazil.

The largest country in South America, Brazil is the fourth largest pharmaceutical market in the world. The Brazilian National Health System is one of the largest public health systems in the world. In 2019, Brazil had 114,352 community pharmacies (76.8% private), which represent the first point of access to health care in Brazil due to their wide distribution.

Medical cannabis and CBD are set to increase in Brazil with the passage of new legislation, with estimates that the sector could reach $4.7 billion in sales over the next three years. Until recently, CBD in Brazil was only allowed for medical purposes with permission from the National Health Surveillance Agency. Regulations are in place for medical cannabis and hemp opening up a market of 210 million consumers.

There are only a few companies in Brazil – CBD Vida being one – that sell pharmaceutical CBD products through prescriptions and medical reports. Only a handful of importers have established distribution in Brazil, including GW Pharmaceuticals, Biocase Brazil, which sells its Sativex CBD drug in pharmacies, and Biocase sells Allandiol Full and Broad.

Mario Lacourt, General Manager of PrimeX, said: “We are very happy to deploy Can B’s CBD products in Brazil. After careful consideration, Biocase Brasil chose Can B for its high manufacturing and processing standards and quality products. The CBD category in Brazil is constantly expanding into new categories and we are very well positioned to distribute Can B’s products to the majority of pharmacies, markets and bodegas in Brazil. »

Marco Alfonsi, Managing Director of Can B, said: “This is an important expansion step for our company as Brazil is the fourth largest pharmaceutical market in the world and we now have access to this huge market through PrimeX. The CBD opportunity in Brazil is emerging with recently passed legislation opening up the market to its 210 million people. We look forward to working closely with PrimeX and utilizing their existing relationships with pharmacies in Brazil.

About PrimeX

PrimeX distributes and markets hemp, CBD, D8 smoking and consumable products in the United States and internationally. PrimeX works with its customers to supply all of their hemp-derived products globally by partnering with like-minded companies (e.g. Dicina 120,000+ outlets). With access to raw material, from pre-rolled smokes rolled at 1,600/minute to pharma-grade products, PrimeX strives to provide premium access to consumers.

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About Can B Corp.

Can B Corp. (OTCQB: CANB) is a health and wellness company that provides the highest quality hemp-derived cannabinoid products, including under its own brands Canbiola, Seven Chakras, NuWellness, Pure Leaf Oil and Duramed. Can B uses multi-channel distribution to reach consumers, including medical institutions, doctor’s offices, retailers, online and face-to-face. Can B Corp. operates R&D and production facilities in Lacey, WA and Florida. To learn more about Can B Corp. and our full line of high quality products, please visit: Canbiola.com and www.CanBCorp.com, follow Can B Corp on Instagram and Facebook, or visit any of the over 1,000 outlets that carry Can B Corp products. B Corp.

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Forward-looking statements

The forward-looking statements and risks and uncertainties discussed in this release contain forward-looking statements. The words “anticipate”, “believe”, “estimate”, “could”, “intend”, “expect” and similar expressions identify such forward-looking statements. Expected and actual results, performance or achievements may differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. Forward-looking statements are subject to a number of risks and uncertainties, including, but not limited to, risks and uncertainties associated with, among other things, the impact of economic, competitive and other factors affecting our operations, our markets, our products and our performance. . The matters discussed herein should in no way be construed in any way, form or manner as to our future financial condition or stock price. Except as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of latest information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unforeseen events.

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SOURCE: Can B Corp.

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