Labat Intellectual Property Company will acquire and own the Cannabis Growing Intellectual Property (IP) and all related technologies, patents, routes of synthesis, cannabis strains, cannabis genetics and all other related documentation from AfriAg Global Pty Ltd. This technology and associated techniques, seeds, any other issues agreed upon in the contract between Labat IP company and AfriAg Global Pty Ltd will be held in Labat Intellectual Property Company. These technologies will be used in the operations of Labat Oriah Botanicals to ensure maximum yields and the highest quality possible.
Intellectual Property and Research and development (R&D) advancements achieved or acquired by any of the other subsidiaries of Labat Cannabis, will be held by Labat IP company.
Oriah’s hemp and tetrahydrocannabinol (THC) rich cannabis genetic breeding programme and its cannabidiol (CBD) infused hemp capabilities will also be held in this company. Labat IP will ensure the advantages of the Support Programme for Industrial Innovation (SPII) are fully utilized to achieve maximum benefit for the business. In addition, should Labat’s IP portfolio contribute to the clinical formulations programme executed by the pharmaceutical company – then this IP will become the property of Labat IP company. All Drug Master Files and the associated technologies, (including the analytical development technologies) will be held in the IP company.