Shares of Panacea Life Sciences Inc. (OTCMKTS:PLSH) have been trending higher in the past week with a gain of 45%.
Market Reaction
On Tuesday, PLSH stock ended flat at $0.50 with 33 shares, compared to its average volume of 2.6k shares. The stock moved within a range of $0.5000 – 0.5000 after opening trade at $0.50.
Panacea Life Sciences Collaborates with Chanelle McCoy Health for US Launch
Panacea Life Sciences Inc. (OTCMKTS:PLSH), has announced a new commercial partnership with Chanelle McCoy Health, which is a premium CBD pharmaceutical company, based out of UK and Ireland. The CBD brand Pureis, launched by Chanelle McCoy Health, has been extremely popular in the UK market. The partnership with Panacea can provide access for the U.S. market to a safer, higher quality, and more efficacious portfolio of certified CBD products that are backed by clinical studies.
Both companies are totally aligned and complimentary across several aspects of their visions, which include the goal of providing the end customer with safe, top quality, and efficacious, at competitive market rates. Chanelle McCoy Health’s dominant brand, supported by governmental authorities including the European Food Safety Authorities, is differentiated as the first pioneering CBD food supplement backed by formal safety and efficacy clinical studies.
The collaboration is to be recognized across the United States as the premium provider of science-based CBD products, specifically a portfolio of Ultra Pure CBD – 0% THC, with no psychoactive effects. These products will specifically cater to segments of the consumer market looking to eliminate exposure to THC in CBD products.
The Ultra Pure CBD product is to be initially launched in the U.S., and will be manufactured by means of a validated proprietary process.
Traders Review
GAXYD stock is trading below the 20-Day and 50-Day Moving averages of $0.84 and $1.16 respectively. Moreover, the stock is trading below the 200-Day moving average of $1.84.
