Panacea Life Sciences and Sky Wellness Enter Agreement for Licensing, Marketing, Supply and Development of Sky Wellness CBD Products

GOLDEN, Colo., May 16, 2024 (GLOBE NEWSWIRE) -- Panacea Life Sciences Holdings, Inc. (OTCQB: PLSH) (“Panacea Life Sciences,” “PLSH” or the “Company”), a Colorado-based manufacturing, research and product development company in the natural health and wellness industry, announces the execution of a Supply, Licensing and Development Agreement (Agreement) by its subsidiary, Panacea Life Sciences, Inc. with Sky Wellness, LLC for the marketing and sale of Sky Wellness’ current CBD product inventory and the licensing and development of new products under the trademarked family of Sky Wellness brands.

Under the Agreement, Sky Wellness will deliver its current existing inventory of branded CBD and other products to Panacea Life Sciences, and Panacea Life Sciences will market and sell the products under an arrangement that splits net sales revenue at 40% of net sales revenue to Panacea and 60% to Sky Wellness. Panacea Life Sciences may also use Sky Wellness’ trade and brand names in the advertising and sale of the Sky Wellness products, and Sky Wellness has granted Panacea Life Sciences a non-exclusive license to use Sky Wellness’ intellectual property for the purposes of PLSH manufacturing, marketing and selling new products under the Sky Wellness family of trademarked brands. Sky Wellness retains full ownership of its intellectual property under the agreement. New products to be developed by Panacea under the Sky Wellness brands D Oh Gee^TM, which are CBD and non-CBD dog chews, and BoneUp^TM, a male enhancement product.

“This strategic sales and product development relationship with Sky Wellness adds value to our PLSH stakeholders and expands our existing line of health and wellness products,” said Leslie Buttorff, Chief Executive Officer of Panacea Life Sciences. “We plan to stock our chain of retail Pana Kava Java^TM locations in the Tampa, Florida metropolitan area with Sky Wellness products to complement our PANA Health, PANA Beauty, PANA Sport, PANA Pet, PANA Pure and PANA Life branded product lines.”

About Panacea Life Sciences Holdings, Inc.

Panacea Life Sciences Holdings, Inc. (OTCQB: PLSH) is a holding company organized as a plant-based natural health ingredient and product company, specializing in the development, manufacturing, research, and distribution of products within the $134B and rapidly growing natural health and wellness market segment for both humans and animals.