Empower Clinics Inc (CSE:CBDT) (OTCQB:EPWCF) (FSE:8EC) and EuroLife Brands (CSE:EURO) (FSE:3CMA) (OTCPINK:EURPF) have signed a deal granting the former an exclusive license to the latter’s cloud-based educational platform, Cannvas.me.
Launched in 2018, Cannvas.me is aimed at both medicinal and recreational cannabis customers and will be used by Empower to deliver brand, product, and industry knowledge to employees and over 165,000 patients across its six corporate clinics in Arizona, Oregon, its first franchise in Oklahoma and nationwide tele-health platform.
Under the terms of the deal, Empower has an exclusive license of the Cannvas.me platform in the US and Mexico with an option to expand to other jurisdictions.
The agreement also includes a three-year term with a three-year renewable option, while an annual licensing fee will be paid over the life of the proposed agreement consisting of a mixture of cash and stock totaling $460,000 of top line revenue for EuroLife over the course of the next three years.
In a statement, Empower chairman and chief executive Steven McAuley, said: "We needed a robust platform to reach our growing network of owned and franchised locations across the United States and EuroLife's Cannvas.me education platform exceeds all of our requirements. We now have the ability to reach our employees and the patients they serve through a safe, secure and informative online education portal. I believe the ability to deliver consistent product education quickly and efficiently is a competitive advantage that we will leverage as we continue to grow our patient count and number of locations."
READ: EuroLife Brands says on hunt for eighth retail location in Europe amid challenging economic conditions
Shawn Moniz, chief executive, EuroLife Brands, added: "I am very pleased to announce the agreement with Empower to license our Cannvas.me education portal to reach both employees and medical and retail consumers on an incredibly efficient basis. I look forward to working with Steven and his incredible team at Empower as they expand their footprint across the United States."
Empower is a health and wellness brand with a network of clinics in the US, is currently building its first hemp-derived cannabidiol (CDB) extraction facility and produces a proprietary line of CBD based products.
EuroLife is a global market cannabis brand aiming to empower the medical, recreational and CPG cannabis industry through a data-driven CBD marketplace supported by exclusive and unbiased physician-backed cannabis education and consumer analytics.
Contact the author at [email protected]
Follow him on Twitter @Cal_Proac