- The New Exclusive Partnership Will See Red White & Bloom Distribute and Commercialize Avicanna’s Pura H&W CBD-Based Topical Products in the United States
- The Partnership Also Allows Both Companies to Stake a Claim in the Rapidly Expanding $532 Billion Beauty Industry with the Most Advanced and Only Clinically Backed CBD Skin Care Line
Red White & Bloom (CSE: RWB) (OTCQX: RWBYF) and Avicanna (TSX: AVCN) (OTCQX: AVCNF) (FRA: 0NN) announced via a joint press release that the two companies have struck an exclusive distribution deal that will see RWB distribute Avicanna’s advanced and clinically backed Pura H&W CBD-based cosmetic and topical products in the United States.
The Pura H&W CBD topical product line combines natural ingredients with CBD in advanced and proprietary formulations that have completed three cosmetic human clinical studies. All three studies achieved positive endpoint results, making H&W products the only cannabinoid consumer product line with human safety and efficacy data.
“This agreement with Avicanna reflects our desire to seek out and provide the highest quality products available in the market. These formulations stand head and shoulders above anything else in the category and from our research, it’s the most compelling, evidence-based product that retailers will feel confident listing and consumers can feel confident and comfortable using for their skin care needs,” commented Brad Rogers, Chairman and CEO of Red White & Bloom.
As the beauty industry, which is currently valued at around $532 billion, continues its rapid growth, the new CBD cosmetics trend is expected to gain a strong market presence in the United States. The Pura H&W product line utilizes cannabidiol (CBD), which is a non-psychoactive cannabinoid, thus allowing for retail sales and for the products to be designated as cosmetics.
The Pura H&W topical CBD product launch intends to leverage online shopping platforms, including the Pura H&W e-commerce site, third party e-commerce channels, big-box retailers and RWB’s existing commercial infrastructure in the U.S.
“After years of R&D and clinical development of what we believe is the most advanced line of CBD skin care products, we are thrilled to have partnered up with the team at RWB, who provide an ideal partner for Avicanna and the Pura H&W line of products. We believe their access and expertise in the U.S. market through commercial and retail channels will allow the Pura H&W branded products to reach their potential as the leading skin care brand,” added Avicanna CEO Aras Azadian.
For full detail on the terms of the agreement, please view RWB’s official press release here.
RWB Stock Price Action & Chart
Shares of Red White & Bloom’s CSE listed RWB stock closed Wednesday’s trading session at $0.92 per share, down 4.17% on the day. RWB’s U.S. listed RWBYF stock closed the day at $0.70, down 2.1%.
Investor Research Links:
- CDN Listing | CSE: RWB
- U.S. Listing | OTCQX: RWBYF
- Website | IR Website | Investor Deck | RWB Chart | RWB Email Alerts
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