Cannabis One sees US$9 million in annual contract fee revenue via partnerships in Oregon, Washington
Cannabis One Holdings Inc (CSE:CBIS) (OTCMKTS:CAAOF) said Thursday that its licensed manufacturing and distribution partnerships in Oregon and Washington State could produce nearly US$9 million in contract fee revenue per year.
The Denver-based cannabis company said that during the last 30 days its Honu brand line has continued to exceed management’s expectations as the brand continues its pursuit of a dominant market position for cannabis-infused products through third-party manufacturing and sales channels.
READ: Cannabis One to acquire Nevada-based Evergreen Organix
Cannabis One gave a breakdown of its operations with licensed partners in the two Pacific Northwest states.
Washington:
Honu-branded concentrates manufactured and sold by a licensed partner are anticipated to generate US$850,000 per year in annualized brand manufacturing contract fee revenue.
The licensed partner has introduced and launched sales of disposable vaporizer products under Cannabis One’s INDVR Strains brand. Annualized brand manufacturing contract fee revenue to Cannabis One is anticipated to exceed US$1.2 million per year.
Cannabis One said its licensed partner has received state approval to commence the production and sale of certain infused products under the Evergreen Organix brand label. Evergreen, which Cannabis One is acquiring, anticipates annualized brand manufacturing contract fee revenue of US$4 million per year through the licensed partner.
Oregon:
The company’s licensed partner has received approval for nine THC-based and nine CBD-based products for sale under the Honu brand. Cannabis One anticipates annualized brand manufacturing contract fee revenue of US$1.1 million per year.
Cannabis One won state approval for a 50 mg edible under the Honu brand. The company expects the edible to produce an US$1.2 million per year in annualized brand manufacturing contract fee revenue through the licensed partner.
Cannabis One also said its plans to break ground next month on a THC-CBD manufacturing and processing plant near Portland once it gets government approval.
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Story by ProactiveInvestors
Source: https://www.proactiveinvestors.com/companies/news/222521/cannabis-one-sees-us9-million-in-annual-contract-fee-revenue-via-partnerships-in-oregon-washington-222521.html
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