Credit where it’s due, True Leaf Medicine (
CSE:MJ,
Forum) is putting the pieces together.
The Mike Harcourt-chaired medical marijuana company announced today it had
signed two deals to take its in-development hemp-based pet chews product into potentially 2800 pet stores across Canada later in the year.
According to a pre-market news release, Freedom Pet Supplies will send True Leaf products from Ontario out to the east, while Anipet Animal Supplies will cover the western half of the country.
Freedom CEO John Ayres was quoted as saying, "The innovative product range looks fantastic and provides a unique selling proposition in a fast-growing segment of our business. We expect the line to be in demand and well received by our customers."
Anipet CEO Troy Firth stated, "True Leaf's packaging and formulations are truly unique and should attract significant interest and market share within our customer base."
True Leaf pivoted hard earlier in the year when it began to develop hemp-based dog chews, while waiting for Health Canada to process its MMPR application, and has hit all its milestones since. Darcy Bomford runs the company as CEO, and has rolled the group right into his primary domains of knowledge, combining the nutritional values inherent in hemp with his multi-year background in the pet industry.
Despite a slow start, the company has marketed itself hard and investors have recently caught on, driving the stock up from just $0.05 in mid-July to $0.11 less than a month later. The stock was up 22.2% on Wednesday’s news.
The company recently raised a
low six-figure sum for general expenses, with Bomford explaining any financing necessary going forward would benefit from a more robust market in C.MJ shares as the company nears product launch.
Having secured distribution to specialty pet stores, the company will now look to opening veterinary and natural health channels.
--Chris Parry
https://www.twitter.com/chrisparry
FULLL DISCLOSURE: True Leaf Medicine is a Stockhouse Publishing marketing client.