Agoracom Blog

Molecule $MLCL.ca Receives First Deposit and Signs Definitive Agreement With Proper Cannabis for Cannabis Beverage Production and Announces Grant of Stock Options $TPX.A.ca $ACB.ca $WEED.ca

Posted by AGORACOM-AB at 10:56 AM on Thursday, February 11th, 2021
Molecule
  • The agreement with Proper is exclusive and covers all markets in Canada for the production and distribution of cannabis beverages
  • The deal represents Molecule’s first receipt of funds related to co-packing cannabis beverages
  • beverages are sold to Provincial wholesalers via a sales-license partnership with Vortex Cannabis Inc.

February 11 2021 – TheNewswire – Ottawa,  Ontario – Molecule Holdings Inc. (CNSX:MLCL.CN)  (“Molecule” or the “Company”), a Canadian craft-focused cannabis beverage production company, is pleased to announce that it has finalized the definitive agreement with Proper Cannabis (“Proper), and has received its initial deposit for production and distribution of cannabis beverages. The company also granted stock options in accordance with its Stock Option Plan.

Molecule is a licensed cannabis beverage manufacturing company, which produces beverages for brand-partners, as well as producing its own house brands. The beverages are sold to Provincial wholesalers via a sales-license partnership with Vortex Cannabis Inc. The definitive agreement with Proper is exclusive and covers all markets in Canada for the production and distribution of cannabis beverages. Molecule has now begun producing and storing these beverages, in preparation to begin selling to the Ontario Cannabis Store (OCS) and other provincial retailers.

“Proper first approached us in 2018, and we have been working together ever since. We are very happy to announce the signing of this agreement with Proper, and the subsequent receipt of a deposit for cannabis beverage production. This is a big milestone for Molecule, as it represents our first receipt of funds related to co-packing cannabis beverages,” said Molecule President and CEO Phil Waddington.

“Proper is thrilled to partner with Molecule to bring our Proper craft cannabis infused sparkling water to market. We are not a large company, but we have big aspirations to deliver passionately created beverages to consumers who share our values and tastes,” said Proper Founder, Derek Prentice.

Read More: https://agoracom.com/ir/MoleculeHoldings/forums/discussion/topics/755167-molecule-receives-first-deposit-and-signs-definitive-agreement-with-proper-cannabis-for-cannabis-beverage-production-and-announces-grant-of-stock/messages/2303208#message

Tags: , , , , , ,

Comments are closed.