Ovation Science Expands Market Reach with Exclusive Canadian License Agreement

VANCOUVER, BC and LAS VEGAS, NV / ACCESSWIRE / April 11, 2024 / (CSE:OVAT)(OTCQB:OVATF) - Ovation Science Inc. ("Ovation" or the "Company"), with its patented topical and transdermal cannabis products powered by its skin delivery technology Invisicare, is pleased to announce the signing of an exclusive licensing agreement for Ovation's products for Canada with Ripco Processing Inc. ("Ripco"); a company based in Calgary, Alberta and founded by successful legal cannabis pioneers. Ripco is focused on the Canadian market where the demand for cannabis products is strong at an estimated $2.6 billion annually.

Under the terms of the License Agreement, Ripco will be responsible for all regulatory, manufacturing, marketing, sales and distribution activities for Ovation's formulations through-out Canada, starting initially in Ontario, Alberta, BC, Saskatchewan and Manitoba. Ovation will receive a double-digit royalty based on sales, with a minimum quarterly payment after an initial start-up phase. Ripco has already submitted Ovation's products to Health Canada for approval, positioning the launch of Ovation's InVibeMD product line for early Q3 of 2024.

Ripco operates a licensed micro processing facility in Calgary, Alberta. Ripco also acquired an interest in the Canadian Olympic Gold Medal Winner, Ross Rebagliati brands. Ross is a cannabis pioneer and a recognized cannabis celebrity worldwide and is an active brand ambassador of Ripco. Additionally, Ripco has established distribution with Herbal Dispatch, a recognized national online medical and recreational distributor with a BC direct to retailer delivery program and a focused veteran's sales channel.

"Our Agreement with Ripco is very exciting as we can now bring our innovative topical cannabis products to Canadian consumers", said Terry Howlett, President of Ovation. "Ripco's strong management team has secured excellent distribution channels in Canada and will build a successful market for Ovation's topicals. This Agreement not only allows our Canadian shareholders to use our topical products in Canada but it signifies international expansion which brings added value for all of our shareholders."

"We are thrilled to be able to bring Ovation's highly effective topicals to Canada through our various distribution channels," said Shawn Ripley, CEO of Ripco Processing Inc. "We believe these products will be a valuable addition to our portfolio of products and that consumers will feel the advantage of Ovation's transdermal products when they experience their effectiveness."