HollyWeed North Cannabis Inc. and Lost Craft Inc. Enter into a Letter of Intent to Manufacture and Distribute Infused Beverages and Other Cannabis Products
VICTORIA,BRITISH COLUMBIA / ACCESSWIRE / November 1, 2018 / Following the official legalization of recreational marijuana in Canada, HollyWeed North Cannabis Inc. (“HollyWeed” orthe “Company”) and Toronto-based Lost Craft Inc. (“Lost Craft”) are pleased toannounce signing of a letter of intent with respect to a strategiccollaboration between the two companies.
The announcement, made by Renee Gagnon,Founder and CEO of HollyWeed will see the company manufacture recreationalcannabis products for Lost Craft on a “white label” basis where legal. Thescope of the agreement includes packaged flower, infused beverages and otherrelated products. They will also develop strains of cannabis for Lost Craftproducts and incorporate the supply and development of cannabis oils for pensand other recreational use products (where legal and as new legal opportunitiesenter the Canadian market). Lost Craft intends on establishing a new company tolaunch their line of recreational cannabis products.
Comments Renee Gagnon, Founder and CEO ofHollyWeed: “I am very proud and excitedto be able to liaise with Lost Craft, adding yet another ground-breakingchapter to both of our businesses. We are looking forward to much growth andsuccess in the future, not to mention providing new and extraordinary productsfor cannabis fans.”
The letter of intent as signed on October23, 2018 and will leverage the combined expertise and resources of bothcompanies for strategic market entry.
“We expect unique delivery alternativeswill be a major growth area within the legal recreational cannabis industry.HollyWeed is a strong partner with international experience who we have greatcomfort in consulting and developing our line of recreational cannabis products,” said Lost Craft Founder, Shehan De Silva.
As the agreement between HollyWeed and LostCraft becomes more definitive, more details will become publicly available.
About HollyWeed North Cannabis Inc.
HollyWeed North is a private Canadiancompany incorporated in British Columbia, established in 2016, with operatingsubsidiaries specializing in the growth, manufacturing, licensing andproduction of cannabis and other pharma grade products. HollyWeed North’ssubsidiaries include HollyWeed Manufacturing and Extracts Inc., a federallydealers’ licensed company incorporated in British Columbia specializing incannabis extraction and product manufacturing; HollyWeed Grow Inc., a latestage federal ACMPR applicant, also a private company incorporated in BritishColumbia specializing in the growth of medical cannabis and cannabis products;HollyWeed Retail Inc., a retail strategies provider and supply chain managementcompany incorporated in British Columbia; Hollyweed Bakery Inc., a developerand manufacturer of unique cannabis baked goods and edibles incorporated inBritish Columbia; and Terracube International Inc., a manufacturer anddeveloper of proprietary scalable, sanitary grow facilities incorporated inBritish Columbia. HollyWeed North is currently restructuring its capital suchthat, upon execution of the Definitive Agreement, all the subsidiaries will bewholly-owned by HollyWeed North.
About Lost Craft Inc.
Based in Toronto, Lost Craft is one of thefastest growing privately owned craft beer companies in Canada that focuses onbrewing world class approachable craft beer.Founded in 2015, Lost Craft has quickly become a strong and establishedbrand within the craft beer industry.Ontario is the Company’s largest market and Lost Craft’s products arealso sold in Manitoba, New Brunswick and Prince Edward Island.
HollyWeed North Cannabis Inc: KateDalgleish, Director of Legal Affairs and Government Relations, 250-889-7044 http://hollyweednorth.com
Publicity Contact: Deborah Radel at DRPR,
Lost Craft Inc: Laura Fracassi, PublicRelations,
SOURCE: HollyWeed North Cannabis Inc.