OAKLAND, CA, Dec. 19, 2018 /PRNewswire/ - CaniBrands has entered into a binding agreement to acquire the cannabis lifestyle brand, OMG Farms, marking its entry to the California THC market.
With the acquisition, CaniBrands gains access to state licensing, supply chain, and distribution by Alta River, the largest most capitalized cannabis distributor in the state. CaniBrands will enter the California market early 2019 with a line of THC and full spectrum cannabis-based products. The initial product line includes: ready-to-use vape pens; topicals; and tinctures.
OMG Farms is an early-stage cannabis lifestyle brand with a ready-to-use cannabis vaporizer currently sold at dispensaries in the San Francisco Bay area. "The Rooster" is a discrete and convenient disposable vaporizer with 500 mg of ultra-premium cannabis oil, sungrown and pure-extracted in Humboldt County, California.
Recent reports and trends have shown the market is shifting towards portable vaporization products. In California, vape commands 71% of all concentrate product sales (source). Not only does this acquisition represent CaniBrands' launchpad into the THC market, the Rooster vape pen is also the entry point for the brand's extensive suite of premium cannabis-infused product lines that span THC and full spectrum in California.
"We are thrilled to have OMG Farms as our partner as we introduce our first line of cannabis-based products into the California market," says Chris Lord, CEO of Canibrands. "We look forward to expanding both brands by developing products for consumers who share our values for healthy living, quality and convenience."
"This partnership with CaniBrands gives us the opportunity to take our business to the next level and have our product more widely available," says Aaron Silverman CEO of OMG Farms. "We look forward to having more people experience our vape pen and continuing to develop more high-quality products."
CaniBrands aims to have OMG Farms and CaniBrands products in 75 dispensaries by December 2019, significantly increasing the product availability for customers. In addition, CaniBrands plans to introduce new products in line with the OMG Farms brand strategy, including full spectrum CBD vape pens, balms, lotions and tinctures.
