True Leaf Secures Exclusive Manufacturer for Pet Product Line
Agreement includes right of first refusal to buy the company
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/06/15 -- True Leaf Medicine International Ltd. (CNSX: MJ) announced today it has signed an agreement with Wodema Industries Ltd. ('Wodema') to produce the company's proprietary hemp-based supplements and treats for pets.
The agreement gives True Leaf proprietary rights for any production utilizing hemp, cannabis, or its derivatives at Wodema. It also includes a 'right of first refusal' agreement to purchase Wodema's assets.
Wodema Industries Inc. (Wodema) is a manufacturer of treats for the pet industry, doing business in Kelowna, BC Canada since 1996.
In the agreement, Wodema provides True Leaf with manufacturing capacity to produce hemp-based chewable pet supplements, medication and treats. Wodema's US-approved plant gives True Leaf a currency advantage and a low-cost means of launching its own pet product line. Product formulations and packaging designs are underway and the company plans to launch to the US and Canadian specialty pet industry this fall.
True Leaf CEO Darcy Bomford said, "Wodema has extensive manufacturing experience and available capacity that complements our plans in the pet space perfectly. Both teams are thrilled with our agreement and anxious to hit the ground running". Wolfgang and Colleen Thoma, founders of Wodema said, "We're excited about this new opportunity; we've known Darcy for over 20 years and look forward to working with him and the True Leaf team."
This partnership aligns with True Leaf's Quality of Life value proposition as it awaits the approval of its Marihuana for Medicinal Purposes Regulations (MMPR) license application. The company has made a strategic decision to enter the $53 billion pet industry with a line of pet products focused on hemp nutrition. Initially, True Leaf will market soft chews and supplements through direct, pet, natural health and veterinary channels in Canada and the US. Ultimately it hopes to market a cannabis-based animal drug after pilot trials and regulatory approvals have been satisfied.
About True Leaf International Ltd:
True Leaf Medicine International Ltd. has filed an application under Health Canada's Marihuana for Medicinal Purposes Regulations (MMPR) to become a licensed producer with a facility located in the Village of Lumby, BC. The company has passed through the preliminary and enhanced screening process of Health Canada's review and is currently awaiting a 'ready-to-build' approval.
Contacts:
Paul Sullivan
BreakThrough Communications
O: 604-685-4742
M: 604-603-7358
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Datum: 06.05.2015 - 13:00 Uhr
Sprache: Deutsch
News-ID 391337
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VANCOUVER, BRITISH COLUMBIA
Kategorie:
Family
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