CannAmerica Brands Corp. has entered into a long-term licensing agreement and brand partnership with Canna Provisions Inc. to manufacture and distribute CannAmerica-branded cannabis-infused gummy products and Live Labs branded concentrate products in Massachusetts.
Under the agreement, which will initially last for three years, Canna Provisions will follow formulations and processes provided by CannaAmerica Brands. Canna Provisions will also pay a $500,000 licensing fee in installments.
During the first six months of the agreement, Canna Provisions will employ one full-time salesperson in Massachusetts to promote, market, advertise and sell CannAmerica products. If the company decides to grant a license in New York, Connecticut, Vermont, New Hampshire, Maine or Rhode Island, Canna Provisions will also get the first right of refusal.
Dan Anglin, CEO and co-founder of CannAmerica, said he was thrilled the company is partnering with Canna Provisions in Massachusetts.
"Having the opportunity to work in concert with a knowledgeable team and operation that continues to expand its footprint across the state is an exciting beginning to the final quarter of 2019,” Anglin said. "By signing this Agreement, CannAmerica is poised to bring its lineup of products into a growing cannabis market and spread our brand into the Northeastern United States. Partnering with a group that shares our vision will allows us to continue to achieve the organizational success we had envisioned for the year.