Geyser Brands Signs Joint Venture Agreement with Craft Collective for Non-Alcoholic, Cannabis-Infused Beverages

VANCOUVER, Oct. 30, 2019 /CNW/ – Geyser Brands Inc. (formerly Kanzen Capital Corp.) (TSX-V: GYSR) (“Geyser Brands” or the “Company”) is pleased to announce that it has signed a definitive joint venture agreement (the “JV Agreement“) with Factory Brewing Ltd. (DBA “Craft Collective”) to jointly develop, manufacture, market, and sell non-alcoholic cannabis-infused beverage brands in Canadian markets in two phases (the “Joint Venture”). Pursuant to the terms of the JV Agreement, the Joint Venture will be structured as a new company (the “NewCo“), with two standing committees for the purpose of collaboration and cooperation on research, development and commercialization of its products. The first committee will be dedicated to identifying, developing and testing formulations for commercialization. The second committee will be dedicated to identifying and evaluating brands, including those brands owned by the Company and Craft Collective, for commercialization. Each committee will be comprised of 3 members from each of Geyser Brands and Craft Collective with the necessary expertise for each committee’s mandate, with the Company appointing the Chair of each committee. The resulting NewCo will combine the craft beverage manufacturing, marketing and distribution expertise from Craft Collective with Geyser Brands’ cannabis expertise, including leveraging its licensed producer facility, formulation expertise,…

Excerpt only …
READ MORE BELOW
Source : New feed
Link to original : Geyser Brands Signs Joint Venture Agreement with Craft Collective for Non-Alcoholic, Cannabis-Infused Beverages
reposted by Cannabis News World