Retailing Canopy Weed Has Begun RecognitionofroyaltyrevenuefromaffinitypartnershipandexclusivebrandlicensingagreementswithCanopy signed October 2019
The affinity partnership agreement allows Canopy the exclusive right to use the “CARP Recommended” and “Zoomer Recommended” seals for Canopy’s medical and recreational brands, respectively.
This agreement is for a two-year term commencing October 17, 2018, with a one-year renewal option. As part of this agreement, Canopy has committed to an annual minimum spend of $0.30 million with ZoomerMedia through its various media properties and television production facilities.
The exclusive brand licensing agreement allows Canopy and ZoomerMedia to work together to develop Zoomer and CARP branded cannabis products to be ready for retail sale by April 2020 at the latest.
As each product is developed, a separate royalty arrangement will be agreed upon by ZoomerMedia and Canopy.
This exclusive brand licensing agreement also has a two-year term commencing October 17, 2018 with a one-year renewal option.
As part of this agreement, ZoomerMedia also received 16,147 common shares of Canopy.