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HYTN Cannabis Inc. a wholly owned subsidiary of HYTN Innovations Inc.’s HYTN, has entered into a manufacturing agreement with Tricanna Industries Inc. The agreement leverages HYTN’s sales license, operational and quality management systems and vendor relationships, opening new sales channels for Tricanna’s cannabis pre-rolls to provincial and territorial distributors and creating incremental revenue for the company.
The company notes that it has achieved vendor qualification in all major Canadian markets for Tricanna’s products. Jason Broome, HYTN COO, stated “The fractured nature of selling cannabis in Canada lends itself to these types of partnerships, as it is challenging, costly and extremely time intensive to obtain pan-Canadian vendor qualification status. We are excited to facilitate and enhance market access for local cultivators and processors such as Tricanna.”
Dayna Lange, Tricanna’s CFO, stated: “Tricanna is a profitable privately held company with a focus on processing pre-rolls for our white label brand partners. Market access has been challenging on several fronts and a partnership to bridge licensing and vendor qualification gaps has been a priority for our company. We are excited to work with the HYTN team to grow our already successful position within the large and growing pre-roll market segment.”
Pursuant to the agreement, all revenue from orders of pre-rolled cannabis products will flow through HYTN, with the company retaining a percentage of the net sales price. The company notes that it has also received its first order for an infused cannabis extract pre-roll from the Ontario Cannabis Store, which it anticipates filling in October of this year.
Photo: Benzinga; Sources: courtesy of geralt, lindsayfox via Pixabay
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Image and article originally from www.benzinga.com. Read the original article here.