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Harvest One inks CBD-supply agreement with Kentucky hemp grower

The Vancouver-based cannabis company said it will distribute GenCanna Global USA's CBD products in certain regulated markets in the US, Europe, and elsewhere globally

hemp seeds and cbd
Harvest One products are sold in some 38,000 retail distribution points around the globe

Harvest One Cannabis Inc (CVE:HVT) (OTCMKTS:HRVOF) announced Wednesday that GenCanna Global USA will supply it with GMP Certified CBD oil and other finished products.

The Vancouver-based cannabis company said it will distribute, through its wholly-owned subsidiary Satipharm Ltd, GenCanna’s products in certain regulated markets in the US, Europe, and elsewhere globally.

The products will be sold under the Dream Water, Satipharm, and LivRelief brands for an initial term of two years.

READ: Harvest One boosts health and wellness capacity after closing Delivera acquisition

In addition, Winchester, Kentucky-based GenCanna will support Harvest One in the research, development, and formulation of both existing and new CBD-infused products.

Harvest One said the agreement with GenCanna ensures the consistent supply of premium quality hemp-derived CBD for infusion in its existing products and further product innovation.

"Working with world-class partners like GenCanna to supply premium quality, traceable, consistent ingredients, all from GMP-certified facilities, is critical to our core strategy at Harvest One to only offer consumers best-in-class premium products, with consistent and predictable effects, in delivery formats they have come to understand and demand," said Harvest One CEO Grant Froese.

Global footprint

Harvest One products are sold in some 38,000 retail distribution points around the globe, including, Walmart US, CVS, Kroger, Shoppers Drug Mart, Loblaw, Holland & Barrett and Boots.

The company serves as an umbrella over three wholly-owned subsidiaries: United Greeneries, which is a licensed producer; Satipharm, which develops cannabis-based health products; and Dream Water, which offers consumer sleep aids.

Harvest One's stock recently traded up 3.45% to C$0.60 a share in Toronto and 1.7% to US$0.47 a share on the OTC Markets.

Contact the author: [email protected]

Follow him on Twitter @PatrickMGraham

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Price: 0.33 CAD

TSX-V:HVT
Market: TSX-V
Market Cap: $70.84 m
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