Agreement grants Cannara an exclusive license to use, sell and distribute Exotic Genetix branded products throughout Canada in addition to providing access to direct breeder's knowledge and insights on Exotic Genetix' cannabis strains
MONTREAL, Aug. 3, 2022 /CNW/ - Cannara Biotech Inc. ("Cannara" or the "Company") (TSXV: LOVE) (OTCQB: LOVFF) (FRA: 8CB), a vertically integrated producer of premium-grade cannabis and derivative products with one of the largest indoor cannabis cultivation facilities in Canada and the largest in Quebec, today announced an exclusive brand partnership with 50-time award-winning US-based cannabis breeder, cultivator and hash maker, Exotic Genetix Ltd. ("Exotic Genetix"). This agreement will bring one of the most influential cannabis breeders and his brands from the US to Canada.
"We are excited to announce this partnership with one of the premier seed breeders in this industry" stated Nicholas Sosiak, CFO of Cannara. "Exotic Genetix is a multi award-winning breeder and is responsible for the genetics behind some of the highest quality cannabis available in the United States. Exotic Genetix's cannabis strains are current staples in Cannara's portfolio, representing 5 of our 8 current flagship genetics, and we can attest to the high demand for, and the satisfaction derived from these genetics amongst our current customers. We could not be happier to partner with Exotic Mike, the founder of Exotic Genetix, and the rest of the Exotic Genetix team to continue to deliver on our goal to produce the highest quality, affordable cannabis for our customers. We are proud to have been chosen as an exclusive-partner to expand Exotic Genetix's reach into Canada and have no doubt that both companies and our customers will all benefit from this endeavor" concluded Mr. Sosiak.
A testament to the quality of its cannabis, Exotic Genetix strains comprise of five of the eight genetics grown by Cannara, including Gelato Mint, Power Sherb, Galactic Runtz, CBD Runtz and Slapz.
Under the terms of the agreement, Cannara will be granted an exclusive license to use, market, sell and distribute Exotic Genetix branded products throughout Canada. In addition, Exotic Genetix will provide Cannara with ongoing consultation services with respect to providing knowledge and insights into cannabis genetics, plant growing methodologies and marketing services.
"I have been waiting a long time to bring Exotic Genetix to Canada and who better to curate the brand than Cannara alongside its flagship brands Tribal, Nugz and Orchid CBD. Their unwavering commitment and ability to grow premium cannabis at scale in state-of-the-art facilities offers the perfect opportunity for our Canadian journey to begin. We look forward to bringing Canadians some of the highest quality cannabis at prices that can fit into everybody's budget" stated Exotic Mike.
About Cannara Biotech Inc.
Cannara Biotech Inc. (TSXV:LOVE) (OTCQB:LOVFF) (FRA:8CB) is a vertically integrated producer of premium-grade cannabis and cannabis-derivative products for the Québec and Canadian markets. Cannara owns two mega facilities based in Québec spanning over 1,650,000 sq. ft., providing the Company with 125,000kg of potential annualized cultivation output. Leveraging Québec's low electricity costs, Cannara's facilities produce premium-grade cannabis products at an affordable price. For more information, please visit cannara.ca.
About Exotic Genetix
Founded in 2008, Exotic Genetix is a US based company that specializes in the breeding of original cannabis genetics that has been winning Cannabis Cups annually since 2012. Exotic Mike is a 50-time US award-winning seed breeder, cultivator and hash maker and is the legendary creator, and artist behind Exotic Genetix. For more information, please visit exoticgenetix.com.
SOURCE: Newswire