Rule Change Ends Global Prohibition for CBD in Professional Sports

For the first time in the global history of competitive sports, professional athletes around the world can now use CBD infused functional foods and natural health products, free from WADA prohibition.

VANCOUVER, Oct. 16, 2017 /PRNewswire/ - Phivida Holdings Inc. ("Phivida") reports; the World Anti-Doping Agency (WADA) has officially removed cannabidiol (CBD) from its Prohibited Substances List. WADA declassification is effective January 1, 2018 and coincides the launch of the new Phivida.com webstore, new USA distribution of Phivida's brands, and Phivida's application to list on the Canadian Securities Exchange, via initial public offering.

CBD is a non-psychoactive cannabinoid studied as an anti-inflammatory, anti-oxidant and neuroprotectant.¹ WADA reports "cannabidiol is no longer prohibited as it does not mimic the effects of THC." WADA clarifies that marijuana is "still a prohibited substance" not applicable to Phivida's full-spectrum CBD hemp oil extract from permitted hemp farms, rich in CBD, but less than 0.3% THC, for full compliance with WADA and US federal laws.

WADA's new rules opens Phivida to a global emerging market of sports medicine, competitive athletes, multinational supplement retailers² (e.g. CVS, Wholefoods, GNC) and thousands of licensed healthcare clinics³. 

Dr. Sunil Pai, MD, founder of the Sanjevani Integrative Medicine Health Center and Phivida Clinical Advisor states; "published cannabinoid research on pubmed.gov presents compelling potential outcomes. When a regular and therapeutic dose of cannabidiol is administered, systematic reductions of inflammation occur. Beyond chronic pain and arthritis from sports injuries, inflammation is widely accepted as a primary precursor of major disorder groups, from; diabetes, epilepsy and multiple sclerosis to brain, breast and prostate cancer."

WADA harmonizes global policy as the strictest anti-doping rules in all competitive sports. The International Olympic Committee, and the Fédération Internationale de Football Association uses WADA policy as does the United States Anti-Doping Agency, which advocates adoption by; amateur (e.g. National Collegiate Athletics Association), and professional sports leagues (e.g. National Hockey League, National Football League, etc.).

In a recent neuropathology study, 99% of former NFL players tested positive for Chronic Traumatic Encephalopathy (CTE), a disease found in many athletes with multiple concussions and traumatic brain injuries and is often treated with addictive pain killers.⁴The Center for Disease Control reports opioid-overdoses have quadrupled since 1999.⁵ The NFL endorses studies of cannabinoids to treat pain and inflammation⁶, opiate-free, but currently suspends players for testing positive for THC, and has yet to respond to WADA's new rules on CBD.

"Phivida is a high-quality clinical grade CBD brand for athletes who need natural, non-addictive, treatments for pain and inflammation, third-party laboratory tested, and safe for practitioners to recommend to athletes and patients." states Dr. Brian Martin, Former President of the BC College of Naturopaths. Marijuana is federally illegal in the United States, but hemp provides a legal option for licensed clinicians and WADA's new ruling now opens CBD up to sports medicine based practitioners like, physiotherapists, kinesiologists and team physicians.

Phivida's CBD products are formulated by doctors, nutritionists and food scientists using nanoencapsulation technology to load cannabinoids into a protective, hydrophilic, liposomal membrane for enhanced intracellular absorption into the blood-brain barrier, timed-release, improved therapeutic outcomes and solubility for CBD infused beverages. Phivida plans to fund bioequivalence studies for empirical data on nanoencapsulated CBD.⁷

Beyond nanoencapsulated CBD, Phivida's proprietary blends, use the Wholefoods Acceptable Ingredients list Ayruvedic medicines, and FDA approved phytonutraceuticals (i.e. essential vitamins and minerals, electrolytes, anti-oxidants, and vegan proteins, etc.). Phivida's CBD blends are designed to maximize athletic performance ability by accentuating key physiological functions modulated by CBD via the Endocannabinoid System. Phivida's flagship CBD sports beverage line includes; "Focus" targeting mental alertness (pre-competition), "Protect" for immune defense, anti-oxidation, anti-inflammation, and neuroprotection (competition), and "Relax" which aims to modulate anxiety, mood, stress and REM sleep - for total body recovery, and injury repair (post-competition).

About Phivida

Phivida is a premiere brand of CBD functional edibles and natural health products for; practitioners, patients, competitive athletes, fitness professionals and active families. Phivida has new USA distribution has filed a preliminary prospectus and an application to list on the Canadian Securities Exchange via initial public offering.

Quick Facts:

• Learn more about Phivida's CBD products
• Find out more about Phivida Holdings Inc
• Take an animated tour of the Endocannabinoid System

Prospective investors should rely only on the information contained in the amended and restated preliminary prospectus dated August 17, 2017 (the "Amended and Restated Preliminary Prospectus"). This release is qualified in its entirety by reference to, and must be read in conjunction with, the information contained in the Amended and Restated Preliminary Prospectus. This press release is not a solicitation for the sale of securities and a prospective investor is not entitled to rely on parts of the information contained in this corporate update to the exclusion of others. None of Phivida Holdings Inc. ("Phivida", the "Company", "we", or "us"), or Cananccord Genuity Corp., Mackie Research Capital Corporation or Haywood Securities Inc. (together the "Agents") have authorized anyone to provide prospective purchasers with additional or different information. Phivida and the Agents are not offering to sell shares in any jurisdiction where the offer or sale of such securities is not permitted. This corporate update contains "forward-looking information" for purposes of applicable securities laws ("forward-looking statements"). Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based on our current beliefs, expectations or assumptions regarding the future of our business, future plans and strategies, our operational results and other future conditions. Forward-looking statements can be identified by words such as "anticipate", "believe", "estimate", "expect", "intend", "may", "plan", "predict", "project", "seek", "target", "potential", "will", "would", "could", "should", "continue", "contemplate" and other similar expressions, although not all forward-looking statements contain these identifying words. These forward-looking statements include all matters that are not historical facts and include statements regarding our intentions, beliefs or current expectations concerning, among other things, our financial performance, financial condition, liquidity, prospects, growth, strategies and the industry in which we operate. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. We believe that these risks and uncertainties include, but are not limited to, those described in the "Risk Factors" section of the Amended and Restated Preliminary Prospectus. The risk factors contained in the Amended and Restated Preliminary Prospectus should not be construed as exhaustive and should be read with the other cautionary statements in the Amended and Restated Preliminary Prospectus. Although we have attempted to identify important risk factors, there may be other risk factors not presently known to us or that we presently believe are not material that could also cause actual results and developments to differ materially from those made in or suggested by the forward-looking statements contained in the Amended and Restated Preliminary Prospectus or this corporate update.

SOURCE Phivida Holdings Inc.