American Green (OTCMKTS:AMNE) announced that it has entered into a binding letter of agreement to form a joint venture with Arizona-based Natural Herbal Remedies, a licensed dispensary of medical marijuana products.
As quoted in the press release:
The parties will form American Green – Arizona for the purpose of providing services to NHR. NHR will manufacture American Green medical marijuana products consistent in nature and quality to those coming soon from Herbal Elements in Colorado and from Calyptic in Oregon.
Stephen Shearin, president of American Green, commented:
We have been working with NHR for about a year, selling them our CBD isolate for custom formulations developed by this exciting company. The opportunity occurred for us to deepen our relationship and form a joint venture to manage a dispensary and harvest facility in Arizona. We will help NHR produce American Green products as well as assist in the expansion of NHR’s existing line of formulations called Trew Balance.