Victoria, British Columbia - PRESS RELEASE: Following the official legalization of recreational marijuana in Canada, HollyWeed North Cannabis Inc. and Toronto-based Lost Craft Inc. have announced the signing of a letter of intent with respect to a strategic collaboration between the two companies.
The announcement, made by Renee Gagnon, founder and CEO of HollyWeed, will see the company manufacture recreational cannabis products for Lost Craft on a “white label” basis where legal. The scope of the agreement includes packaged flower, infused beverages and other related products. They will also develop strains of cannabis for Lost Craft products and incorporate the supply and development of cannabis oils for pens and other recreational use products (where legal and as new legal opportunities enter the Canadian market). Lost Craft intends on establishing a new company to launch their line of recreational cannabis products.
Gagnon said, “I am very proud and excited to be able to liaise with Lost Craft, adding yet another ground-breaking chapter to both of our businesses. We are looking forward to much growth and success in the future, not to mention providing new and extraordinary products for cannabis fans.”
The letter of intent was signed on Oct. 23, 2018 and will leverage the combined expertise and resources of both companies for strategic market entry.
“We expect unique delivery alternatives will be a major growth area within the legal recreational cannabis industry. HollyWeed is a strong partner with international experience who we have great comfort in consulting and developing our line of recreational cannabis products ” said Lost Craft Founder Shehan De Silva.
As the agreement between HollyWeed and Lost Craft becomes more definitive, more details will become publicly available.
