Wildflower Marijuana Signs LOI with Cannabis E-juice Manufacturer
Wildflower Marijuana Inc. (CSE:SUN) announced that it’s signed a letter of intent (LOI) with a cannabis e-juice manufacturer under which the two parties will develop a line of e-juice products for Wildflower.
As quoted in the press release:
Pursuant to the Joint Venture Wildflower will grant an exclusive license to manufacture, market and sell certain products, recipes, and promotional materials under the Wildflower brand in the State of Washington. As part of the agreement, Wildflower will issue 400,000 shares and pay $85,000 to its Joint Venture partner. In consideration, Wildflower will receive a licensing fee equal to 20% of the gross sales of Wildflower branded products.
The release describes the e-juice manufacturer as follows:
The Joint Venture partner is currently a licensed Tier 3 producer and processor in the State of Washington.
Wildflower’s new joint venture partner specializes in the manufacture of cannabis e-juice/ vaporized delivery systems market sector. E-juice is a concentrated form of cannabis juice that is consumed through vaporization. The expertise, research and development from Wildflower’s new partner will help develop a full line of e-juice products for Wildflower both in the Recreational and Medicinal market segments in Washington and other markets. As the demand for cannabis continues to grow in many emerging markets so does the demand for healthier alternative forms of consumption. Vaporizing e-juice is growing at an accelerating pace ensuring that, Wildflower will be providing a full line of products to address this trend and growing demand. In the Colorado market, the trend continues to move away from consumption of dried cannabis with 50% of products sold being ancillary products such as edibles, e-juice, infused drinks, topical products, tinctures and oils.
William MacLean, president and CEO of Wildflower, commented:
Much like Coca Cola has bottling companies to manufacture and distribute products all over the world, Wildflower will continue to develop strategic partnerships with companies in emerging cannabis markets. These partnerships will be integral to not only developing products and addressing trends in the sector but in positioning Wildflower to set new trends. I am excited with the progress we have made and look forward to continuing to develop the Wildflower brand and product line.