Announces Launch of CBD Beverage Portfolio NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES
VANCOUVER, BC / ACCESSWIRE / July 29, 2021 / CanaFarma Hemp Products Corp. (CSE:CNFA) (the "Company") announces that its MOU partner, Vertical Wellness™, a leader in the branded health and wellness space, has announced the long-anticipated launch of its fully developed portfolio of CBD Beverages at retail. Initial brands will include the Vertical Wellness-owned brands Taos® and Hemp-Moji™. A future launch is anticipated for other celebrity and athlete-driven wellness and lifestyle brands. Future products will also include a line of CBD iced teas, CBD sparkling beverages, CBD waters and functional hemp shots. These products will utilize Vertical Wellness' patented Fast-Absorption technology and other proprietary formulations designed to provide the highest quality and greatest efficacy for consumers in the wellness space.
CanaFarma recently announced the signing of a Memorandum of Understanding with Vertical Wellness (see the Company's press release dated June 29, 2021).
The Vertical Wellness management team, led by CEO J. Smoke Wallin, brings decades of combined experience in successfully building beverage brands in the beer, wine, spirits, RTD and water categories. Vertical Wellness has secured national distribution partners, and a network of independent wholesalers and brokers to enter the market in a significant manner. The current launch will focus on six U.S. markets with a national rollout slated for 2022.
Vitaly Fargesen, SVP of Strategy for CanaFarma, said, "One of the most exciting things about our expected combination with Vertical Wellness is Smoke and his team's deep beverage experience. We are fully supportive of these efforts and look forward to investing in these brands."
Wallin, a former Chairman and President of the Wine & Spirits Wholesalers of America commented, "We believe cannabis beverages will be one of the most important form factors for consumers. My criteria is the liquid has to taste great and, at the same time, the cannabinoids need to be effective. Our team has worked with the world's best flavor houses and scientists over the past three years developing these beverages to achieve exactly that. I can't wait to get these to market!"
"Building new and existing CBD brands in the beverage space opens ourselves up to many more opportunities," said Kevin Henry, VP of Brands at Vertical Wellness, who played a major role in building multiple alcohol brands in the U.S., including the Peroni beer brand for more than seven years. "On-premise accounts like restaurants, bars and hotels give us a chance to really bring these brands to life and engage with consumers firsthand, which is especially important for a new category like CBD, where education and advocacy are key."