Tilray Brands, Inc. TLRY TLRY and Charlotte’s Web Holdings, Inc. CWBHF CWEB have formed a strategic alliance that includes the following Licensing, manufacturing, quality, marketing and distribution for Charlotte’s Web CBD hemp extract products in Canada.
“Charlotte’s Web is excited to partner with Tilray Brands, a respected global category captain. This underscores our strategic expansion into international markets with leading domestic partners through the use of well-established infrastructure, co-production and go-to-market capabilities,” stated Jacques Tortoroli, CEO of Charlotte’s Web. “Our shared goal is to provide the Canadian market with full-spectrum CBD lifestyle wellness options that meet consumer demand for safe, high-quality, and trusted CBD products.”
The venture will address specific need states for Canadians by replicating the success of Charlotte’s Web’s core offering in the US with its line of full-spectrum hemp extract products, including naturally flavored oil tinctures, topical creams and functional gummies for daily wellness and nighttime. use time. Hemp-derived CBD falls under the same regulatory framework as cannabis in Canada; and therefore Charlotte’s Web will be available through traditional Canadian cannabis sales channels. The establishment of Charlotte’s Web supply chain and distribution in Canada also prepares for the planned introduction of regulations for natural health products and the potential ability to sell CBD products through traditional pharmacies in Canada.
Initial availability of Charlotte’s Web products in Canada is expected in early 2023 for hemp extract oil tinctures, followed by gummies and topicals.
Get your daily dose of Cannabis News on Benzinga cannabis. Don’t miss any important developments in the industry.
Photo: Benzinga; Sources: courtesy of Geralt, Lindsayfox via Pixabay
Similar news
Hexo’s net loss in fiscal 2022 hits CA$1.1 billion – investors need to know this
[ad_2]
Source story
