HollyWeed North Cannabis Inc. and Lost Craft Inc. Enter into a Letter of Intent to Manufacture and Distribute Infused Beverages and Other Cannabis Products
Following the official legalization of recreational marijuana in Canada, HollyWeed North Cannabis Inc. (“HollyWeed” or the “Company”) and Toronto-based Lost Craft Inc. (“Lost Craft”) are pleased to announce signing of a letter of intent with respect to a strategic collaboration between the two companies.
The announcement, made by Renee Gagnon, Founder and CEO of HollyWeed will see the company manufacture recreational cannabis products for Lost Craft on a “white label” basis where legal. The scope of the agreement includes packaged flower, infused beverages and other related products. They will also develop strains of cannabis for Lost Craft products and incorporate the supply and development of cannabis oils for pens and other recreational use products (where legal and as new legal opportunities enter the Canadian market). Lost Craft intends on establishing a new company to launch their line of recreational cannabis products.
Comments Renee Gagnon, Founder and CEO of HollyWeed: “I am very proud and excited to be able to liaise with Lost Craft, adding yet another ground-breaking chapter to both of our businesses. We are looking forward to much growth and success in the future, not to mention providing new and extraordinary products for cannabis fans.”
The letter of intent as signed on October 23, 2018 and will leverage the combined expertise and resources of both companies for strategic market entry.
“We expect unique delivery alternatives will be a major growth area within the legal recreational cannabis industry. HollyWeed is a strong partner with international experience who we have great comfort in consulting and developing our line of recreational cannabis products,” said Lost Craft Founder, Shehan De Silva.
As the agreement between HollyWeed and Lost Craft becomes more definitive, more details will become publicly available.
About HollyWeed North Cannabis Inc.
HollyWeed North is a private Canadian company incorporated in British Columbia, established in 2016, with operating subsidiaries specializing in the growth, manufacturing, licensing and production of cannabis and other pharma grade products. HollyWeed North’s subsidiaries include HollyWeed Manufacturing and Extracts Inc., a federally dealers’ licensed company incorporated in British Columbia specializing in cannabis extraction and product manufacturing; HollyWeed Grow Inc., a late stage federal ACMPR applicant, also a private company incorporated in British Columbia specializing in the growth of medical cannabis and cannabis products; HollyWeed Retail Inc., a retail strategies provider and supply chain management company incorporated in British Columbia; Hollyweed Bakery Inc., a developer and manufacturer of unique cannabis baked goods and edibles incorporated in British Columbia; and Terracube International Inc., a manufacturer and developer of proprietary scalable, sanitary grow facilities incorporated in British Columbia. HollyWeed North is currently restructuring its capital such that, upon execution of the Definitive Agreement, all the subsidiaries will be wholly-owned by HollyWeed North.
About Lost Craft Inc.
Based in Toronto, Lost Craft is one of the fastest growing privately owned craft beer companies in Canada that focuses on brewing world class approachable craft beer. Founded in 2015, Lost Craft has quickly become a strong and established brand within the craft beer industry. Ontario is the Company’s largest market and Lost Craft’s products are also sold in Manitoba, New Brunswick and Prince Edward Island.
Publicity Contact: Deborah Radel at DRPR, Deborah@drpr.us
Lost Craft Inc: Laura Fracassi, Public Relations, email@example.com