- Radient launches foray into the CBD market through exclusive rights to Dreamy CBD brands
EDMONTON, Alberta, Nov. 25, 2020 (GLOBE NEWSWIRE) -- Radient Technologies Inc. (“Radient” or the “Company”) ( TSX Venture: RTI; OTCQX: RDDTF ), is pleased to announce a licensing agreement with Dreamy Co., (“Dreamy”) to bring in Dreamy CBD products under Radient’s platform to Canada and extend it to other international markets. Initially founded in the US, Dreamy has developed a lifestyle brand over the past decade focused on the Health and Wellness space before branching into the CBD vertical. Dreamy is focused on creating and inspiring people to use plant medicine and holistic healing in place of conventional pharmaceutical solutions. In the US, Dreamy CBD enjoys a strong presence in California, and the Dreamy brand has a strong association with a positive lifestyle in the rapidly growing Wellness space. The Dreamy CBD products comprise CBD tinctures, CBD distillates, CBD edibles, CBD cosmetics, and CBD Vape Cartridges geared towards the recreational and medical cannabis market.
Under this partnership, Radient will have exclusive rights to the licenses and trademarks for Dreamy CBD brands and will collaborate jointly with Dreamy to produce their CBD products and launch their brands in Canada. Radient will be involved in providing the processing facilities in Edmonton and the necessary infrastructure to extract CBD products for Dreamy CBD. In addition, through its Sales License and associated registrations in the provinces, Radient will look to build the Dreamy CBD product portfolio in Canada. On the international front, Radient will produce their CBD based products for markets in Thailand and Japan that are witnessing a strong surge in CBD products consumption, especially in the Wellness space. This will be after completing a comprehensive review of the trade requirements with local partners in these jurisdictions. The partnership is being set initially for a two-year term with an annual renewable option, with Radient reserving the right of first refusal to acquire Dreamy.