The new partnership transforms the Vancouver-based company into a US multistate operator by establishing a local manufacturing presence for its Alternative Medicine Association-branded products outside of Nevada
Inc () (OTCMKTS:TGIFF) has signed a new agreement to provide corporate support to Green Spectrum Trading Inc, a California-based cannabis company.
The new partnership transforms the Vancouver-based company into a US multi-state operator by establishing a local manufacturing presence for its Alternative Medicine Association-branded products outside of Nevada and expands the footprint of the CBD wellness line.
The management services agreement will see provide operational and accounting services, general management and oversight to the medicinal and recreational cannabis business licensee for a two-year term.
READ: 1933 Industries gets approval to transfer its cultivation licenses, kick off planting at its new Las Vegas facility
By partnering with Green Spectrum, will be able to work with an established cultivator to build manufacturing and expand its distribution channels for its brands with the goals of becoming a statewide leader, the company said in a statement.
California is a key priority for 1933 Industries, according to Chris Rebentisch, the company’s CEO.
“Manufacturing our THC AMA branded line of concentrates and CBD-infused Canna Hemp portfolio of wellness products in the state enables us to reach markets across the most populous hubs and establishes us as a multi-state operator with a turnkey model that can be exported to other states,” said Rebentisch in a release.
The company will control cultivation, extraction, product manufacturing, branding, sales and distribution to ensure the consistency and quality of its brands, according to Rebentisch.
“This is an exciting opportunity that enables our company to capitalize on California's growing market,” noted Rebentisch. “We are pleased to partner with Green Spectrum and their cultivation expertise to quickly scale up operations."
1933 Industries aims to have a new manufacturing facility in California operational by end of October 2019.
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