ONIT Sciences today announced that it has entered into a Memorandum of Understanding with Dakota Sciences, a South Dakota corporation, to purchase the intellectual property for the ONIT Grow™ nanosurfactant formulation. Dakota has also agreed to develop addition products for ONIT, to complement the Company’s current product.
“This is a significant step forward for ONIT Sciences,” stated Gerry Martin, ONIT’s chief executive officer. “Securing the global rights to intellectual property is at the core of our business model. In this case, we go from licensee to owner. We feel this further enhances our future while increasing ONIT’s value today.”
In addition to selling rights to the ONIT Grow™ formulation to ONIT, Dakota will develop a suite of all organic, non-GMO products exclusively for ONIT. These products will leverage the powerful ONIT Grow™ delivery system and will be sold through the same direct and indirect (retail) channels as ONIT Grow™. Dakota is currently working on a non-chemical, all-natural pesticide and a powerful anti-fungal agent. Together, these two products address the most urgent challenges faced by cannabis and hemp growers.