The deal will grant 1933 Industries license to the DNA brand for the production and sale of hemp-derived CBD products
1933 Industries Inc () (OTCMKTS:TGIFF) announced Thursday that it has signed a second licensing agreement with OG DNA Genetics, a globally recognized leading cannabis brand.
The agreement will grant 1933 Industries the license to the DNA brand for the production and sale of hemp-derived CBD products – signaling DNA’s first entry into the cannabidiol market. DNA will leverage 1933’s vast distribution network of over 800 retail outlets throughout the US.
In 2018, the Farm Bill was passed through legislation federally legalizing the cultivation of hemp and permitting the sale of hemp-derived CBD products. This gives DNA the ability to expand its reach into the rapidly developing CBD market and provide the highest-quality products to all 50 states and globally.
READ: 1933 Industries posts steep jump in 4Q and fiscal year 2019 revenue helped by cannabis subsidiaries
“We are excited to expand our partnership with 1933, one of the leaders in the CBD wellness space,” said Don Morris, co-founder of DNA Genetics. “It feels good to build on an already strong relationship with a like-minded company committed to putting out the best quality products.”
Chris Rebentisch, CEO of 1933 Industries, said DNA has the “best quality products” in the market.
“It’s fitting that we would work together to help bring the legacy brand into the CBD wellness space. We have an amazing lineup of products and are excited to leverage DNA’s global reach through this agreement,” Rebentisch said.
For more than 15 years, genetics developed by DNA have won more than 200 awards in all categories at the most prestigious cannabis events around the world, making DNA the global standard in breeding and growing truly best-in-class strains.
These awards include the High Times ‘Top 10 Strain of the Year,’ which was inducted into The High Times seedbank hall of fame in 2009, the High Times 100 list of the most influential people in the industry and the High Times Trailer Blazers Award, for contributions made towards uniting the fields of entrepreneurship, politics and medicine.
1933 Industries, based in Chilliwack, British Columbia, owns licensed medical and adult-use cannabis cultivation and production assets, proprietary hemp-based, CBD-infused branded products, CBD extraction services and a specialized cannabis advisory firm.
Shares recently traded up 2.6% to C$0.20 in Canada.
--ADDS share price--
Contact the author: [email protected]
Follow him on Twitter @PatrickMGraham
