TORONTO, ON / TheNewswire / November 28, 2016 - BlueOcean NutraSciences Inc. ("BlueOcean" or the "Company") (TSX-V: BOC) is pleased to announce that it has begun the development of a formulation of hemp extract containing cannabinoids (not including the psychoactive drug THC) in combination with its signature Omega-3 Astaxanthin oil from natural wild caught shrimp. The commercial product, to be branded “SeaBD” is expected to be launched as a dietary supplement into the United States market. Hemp extracts combined with BlueOcean’s natural omega-3 astaxanthin oils are a natural combination as an anti-oxidant supplement. Subject to financing, SeaBD™ is expected to be commercially available in the first half of 2017.

 

A great deal of attention has been given to the health benefits of cannabidiol (“CBD”) from hemp, for example, on June 24, 2015, Nora D. Volkow, Director, National Institute on Drug Abuse Senate Caucus on International Narcotics Control stated: “pre-clinical research (including both cell culture and animal models) has shown CBD to have a range of effects that may be therapeutically useful, including anti-seizure, antioxidant, neuroprotective, anti-inflammatory, analgesic, anti-tumor, anti-psychotic, and anti-anxiety properties.” Dr. Volkow further stated: “A review of 25 studies on the safety and efficacy of CBD did not identify significant side effects across a wide range of dosages, including acute and chronic dose regimens, using various modes of administration.” See https://www.drugabuse.gov/about-nida/legislative-activities/testimony-to-congress/2016/biology-potential-therapeutic-effects-cannabidiol

 

CBD derived from help extract is currently being sold across the US as a dietary supplement. The total market for legal cannabis products in the US is estimated to be $7 billion in 2016, a 26% growth over the previous year (ArcView Market Research). With a number of states legalizing medical cannabis and recreational cannabis in the recent November election, the market for cannabis products is expected to continue its rapid growth. In addition, the current Canadian medical cannabis market is estimated to be worth $100 million, however with the Liberal party’s platform including the push for legalization of recreational cannabis, the total legal cannabis market value in Canada is estimated to grow to $5 billion (Dundee Capital Markets).

 

About BlueOcean

BlueOcean NutraSciences Inc. is a Canadian listed public Company that is focused on developing sustainable, specialty nutraceutical oil products targeted at the rapidly growing Natural Astaxanthin, Omega-3 and Algal oil health and wellness markets. BlueOcean's proprietary shrimp oil ingredient contains high levels of naturally occurring astaxanthin, phospholipids, and omega-3 EPA and DHA.

BlueOcean's consumer brand, Pure Polar® Omega-3 Shrimp Oil, contains over two times more omega-3 EPA & DHA and 10 times more astaxanthin than typical retail krill oil brands, and contains phospholipids for better absorption of the essential nutrients. Pure Polar® can be bought at purepolarshrimp.com, vitaminworld.com, luckyvitamin.com, amazon.com and inboxfitness.com.

  

Forward-Looking Statements

This news release may contain forward-looking statements that are based on BlueOcean's expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

For more information, please visit www.blueoceannutra.ca or contact Dil Vashi, Manager Corporate Development at 416-859-0909.