International Cannabrands Announces Distribution Agreement with Solstice in Washington State
Calgary, Alberta (FSCwire) - International Cannabrands Inc. (CSE:JUJU) (the “Company”) is pleased to announce that it has entered into a distribution agreement with Solstice Holdings, Inc. (“Solstice”), a private company in Washington State, for the production, promotion and distribution of the Julian Marley JuJu Royal™ line and other products of the Company in the Washington State market. As part of its investment in Riotus LLC (see press releases dated August 16, and August 29, 2018), the Company was able to leverage the strategic relationships of Riotus and gain access to this important market. Solstice and the Company reached an agreement on the principal terms for distribution and expect to have the formal distribution agreement completed within the next couple weeks. Product promotions within Washington State are expected to be scheduled before the end of the year.
Washington State is one of the three largest cannabis markets in the US. According to statistics reported by the Washington State Liquor and Cannabis Board, total sales of cannabis in Washington State for 2017 were $1.37 billion. The market continues to evolve with a growing number of brand and dispensary companies emerging as leaders.
Founded in 2011, Solstice started as the first commercial cannabis production company the state had ever seen. Today it is one of the largest and most respected distributors of state legalized cannabis in Washington State. Its brands include the Solstice, Giant, C&D, and Swamp Boys brands in the state. Solstice’s mission is to provide high quality brands and unique products to its dispensary partners and consumers.
“International Cannabrands is building a portfolio of unique, premium brands. We are excited about this opportunity to provide their products to our loyal customers. Solstice’s commitment is to elevating consumer choice and access to elite quality and differentiated product. ICI shares these values and we look forward to exploring how their brands can grow in our markets. As we have said before, we value partners who have history in the industry and respect for the plant. It’s hugely important to us that the good stuff doesn’t get lost.” - Will Denman, CEO Solstice Holdings, Inc.
“We are tremendously excited about this partnership with Solstice. The Washington market is a leader in innovative, authentic cannabis products. Our unique and high quality lifestyle offerings are a perfect fit.” – Steve Gormley, CEO International Cannabrands Inc.
About International Cannabrands (ICI)
ICI acquired the exclusive rights to Julian Marley's JuJu Royal™ brand. ICI currently generates revenue from licensing brands to growers, edible manufacturers, oil extractors, producers of ancillary products and apparel in the United States where cannabis has been legalized at the state level, as well as products containing CBD in the US and internationally. ICI intends on acquiring micro brands with highly profitable operations in the cannabis space. The Company believes as the market becomes saturated with products varying in potency and quality, that the branded products will rise to the top and the Company intends to exploit all opportunities available to realize the full value of the Julian Marley brand and other brands.
About JuJu Royal
Julian Marley conveys his message of legalization, freedom, and love through the JuJu Royal brand, a line of naturally produced medicinal herbs. One percent of proceeds are distributed for the benefit of veterans using cannabis through the Weed for Warriors Project. More information about the brand and various products can be obtained at www.jujuroyal.net. International Cannabrands Ltd is continuing to identify and develop future strains of marijuana that meet Julian’s exacting standards. The Company is continuing to conduct research and development with certain origin genetics to produce additional signature Julian Marley strains for the JuJu Royal Premium Marijuana collection. The intent is to make these strains available to dispensaries and caregivers on a worldwide basis where it is legal.
International Cannabrands Contact:
Steve Gormley CFN Media Contact:
Chief Executive Officer Frank Lane (206) 369-7050
1045 Lincoln Street, #106 firstname.lastname@example.org
Ph: (323) 828-4321 or email@example.com
Media Inquiries: firstname.lastname@example.org
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR THEIR REGULATION SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward Looking Statements
This news release contains forward-looking statements relating to the distribution agreement between the Company and Solstice, including the timing thereof. There is no assurance that the distribution agreement will be completed in the time estimated or at all or whether International Cannabrands will be able to realize all the expected benefits therefrom. These forward looking statements involve risks and uncertainties. Events or circumstances may cause actual results to differ materially from those anticipated as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company or the parties to the agreement. These include legal and regulatory changes, the impact of general economic, industry and market conditions; expectations regarding market demand for particular products and the dependence on new product development; the impact of product competition. As a result, the Company cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and Management of the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable securities laws
Source: International Cannabrands Inc. (CSE:JUJU, OTC Bulletin Board:GEATF)
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