Lexaria (CSE:LXX) ( LXRP ) has acquired 51% of PoViva Corp, an innovative health company developing Cannabidiol (CBD)-infused products. Lexaria may increase its ownership position to 75% at a later date. “Most CBD’s taste awful,” stated Lexaria CEO and Chairman Chris Bunka in an exclusive interview with Financial Press . “Marian Washington and Michelle Reillo — the two principals at PoViva — have developed patent-pending technology to bind CBD to a lipid. As well as enabling the body to process the CBDs more efficiently, this technology makes it taste much better.” The first PoViva Tea by Lexaria will be a traditional black tea, which accounts for about 85% of all the tea consumed. Initially Lexaria will sell the CBD lipid-bound tea loosely – and then as the product line gets traction Bunka anticipates introducing flavored teas and tea bags.
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