Shareholders of Skinvisible Pharmaceuticals, Inc. (OTCQB:SKVI) are cheering the company’s latest announcement with a 17% surge in share price as the pharmaceutical research and development company announced the formation of its Ovation Science, Inc. subsidiary, and the company's definitive license agreement with Lighthouse Strategies, LLC.
Based on the agreement with Ovation, Lighthouse has exclusive use of Ovation's patented topical and transdermal formulations for select U.S. markets.
The national distribution of products and brands will be conducted through Cannabiniers, an established technology and brand management company and subsidiary of Lighthouse. Cannabiniers will distribute treatments that incorporate Ovation's topical products in the United States.
Their flagship product Brewbudz® is already launched in Nevada with aggressive expansion plans slated for California, Colorado, Washington State, Oregon, and Arizona.
Any time the word "marijuana" or "cannabis" is entered into a press release, a buzz forms amongst the investment community as many investors want to get a piece of the action in this new and rapidly growing industry.
As mentioned off the top, shares of SKVI are currently trading up 17.02% at $0.055 per share in late-afternoon trading as the stock tries to rally off a $0.05 technical support level.
