Ovation Science Inc. announced 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 InVibe®?MD product line for early Third Quarter 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.

This Agreement for Canada fortifies Ovation's strategic expansion plan; providing an opportunity for the Company to expand its revenue, cash flow and market presence. The Company previously announced a series of new agreements including MidWest Roots in Missouri; Planet 13 in Nevada; PA Options for Wellness in Pennsylvania and two Supply and Distribution Agreements including Golfer's CBD Ltd. and VenWell; both online US marketers. Leveraging over two decades of pharmaceutical research and development, Ovation's patented skin delivery technology, Invisicare®?, ensures enhanced cannabinoid delivery for superior patient outcomes.

Invisicare enables substantially more CBD and THC and other cannabinoids to be delivered to and through the skin, which translates into better results for patients.