WeedMD (WMD.V) and Fire and Flower (FAF.T) entered into a commercial arrangement earlier this week, wherein WMD will manufacture, package and ship FAF’s Revity CBD product line, according to a press release.
The product line is anticipated to be on shelves at Fire & Flower stores in Saskatchewan as of August 14, 2020. The products will all be produced at WeedMD’s extraction hub CX industries, using the company’s own biomass.
“We’re proud to be selected by Fire & Flower as the producer of its Revity CBD product line. As our first Canadian commercial extraction arrangement, we are looking forward to working with this award-winning retail-leader as it looks to expand into new product formats and strategic markets. With our CX extraction business focused on developing high-grade concentrates from trichome-rich biomass, we anticipate a fruitful and long-term relationship with Fire & Flower,” said Angelo Tsebelis, chief executive officer of WeedMD.
CX Industries specialization is in extraction, licensing, tolling and third party product formulations from the company’s facility in Aylmer, Ontario. It will serve as the primary extractor, packager and distributor of Fire & Flower’s branded cannabis oil products, starting with CBD and expanding outwards to include other products.
“Based upon key consumer insights from our Hifyre digital retail and analytics platform, Fire & Flower is pleased to launch a wellness-focused brand in the underserved market of regulated CBD products,” “WeedMD has an excellent reputation of producing quality products and a track record of innovation in response to consumer preferences in the market. Revity CBD will launch in Saskatchewan and eventually nationwide as Fire & Flower looks to expand the offerings of this consumer brand as international markets emerge,” said Trevor Fencott, CEO of Fire & Flower.
Reactions on twitter were generally positive when they weren’t confusing. Twitter user @weedstreet420 added WMD to the bottom of their list of daily earners, recognizing a 2.78% bump. And @weed_investor posted this in response:
— Weed-Investor.com (@Weed_Investor) August 11, 2020
Your guess is as good as mine.