- Launches Orchid Essentials Products into robust Nevada market
- Creates exclusive supplier of PurTec's Emissions Tested Vaporizer Hardware
- Leverages 1933 Industries' state-of-the-art cultivation and leading extraction capabilities
- Establishes long-term partnership for future pipeline of products
VANCOUVER, BC, Oct. 20, 2020 /PRNewswire/ - 1933 Industries Inc. (the "Company" or "1933 Industries") (CSE: TGIF) (OTCQX: TGIFF), together with Orchid Ventures Inc. (CSE: ORCD) (OTC: ORVRF) ("Orchid"), are pleased to announce that they have entered into a Supply and Licensing Agreement ("Agreement") for the manufacturing and distribution of Orchid products into the regulated Nevada cannabis market.
Washington-based Orchid Ventures, Inc., through its wholly owned subsidiary, Orchid Brands, LLC, has entered into an exclusive agreement with 1933 Industries' subsidiary, Alternative Medicine Association LLC ("AMA"), for the purposes of manufacturing, selling and marketing Orchid Essentials Brand products in Nevada, leveraging AMA's extraction expertise and well-established sales and distribution channels in the state.
Pursuant to the terms of the three-year Agreement, 1933 Industries will purchase Orchid's PurTec hardware and packaging component products and proprietary terpene blends required for the production of Orchid Essentials products. AMA will act as the exclusive supplier of the Orchid Essentials Brand Products and future lines, and will also purchase the same hardware components, packaging and terpenes for its own branded products under the same pricing terms. PurTec's Orchid cartridges are one of the only cartridges for cannabis oil that are emissions tested at AFNOR standards, the strictest guidelines set by the European Union. Orchid's unique cannabis products and proven intellectual property will complement the Company's portfolio of trusted brands.
"Bringing the Orchid Essentials brand and PurTec hardware to Nevada as its exclusive carrier is a significant strategic alliance for the Company", stated Mr. Eugene Ruiz, President of 1933 Industries. "This is a unique opportunity to partner with a company that enables us to expand our offerings with complimentary products, enhance our own delivery systems, improve our terpene profiles and support our sustainability mandate. PurTec's eco-friendly, plastic free, wind energy manufactured, child resistant retail packaging cartons and high emissions standards provide sustainable product innovation that will differentiate our products with increased consumer appeal. We are excited to launch new, advanced and safe products in the vape segment, within our portfolio of premium products and we look forward to representing the Orchid brand in Nevada."
"We are pleased to announce another licensing partner for our Orchid brand as we expand the franchise into the state of Nevada. Given our strong brand presence in Southern California, we've sold products to many consumers traveling from Nevada, and have previously met with buyers from marquee dispensaries in Vegas, with great reception", said Mr. Rick Brown, President of Orchid Ventures. "We feel that Orchid is highly differentiated from the existing vape products available in Nevada and that the traveling consumer in this market will help further spread brand awareness of Orchid Essentials. 1933 Industries has been a market leader in Nevada for many years and they have built an extensive retail distribution network through their strong marketing and sales capability. Their focus on quality and innovation coupled with their proven track record as a licensee of other brands, makes 1933 Industries the perfect partner for Orchid in Nevada, as we continue to expand the brand nation-wide".
The launch program will focus on the Orchid Classic 0.5 gram high quality vape product line, with associated packaging consistent with all Nevada Cannabis Compliance Board (CCB) rules and regulations, an optimal selection of terpene profiles and the Orchid 650 mAh batteries, also with associated CCB compliant packaging. Orchid's extensive all-natural terpene line meets a minimum of 97% purity, are third-party tested and are ISO certified. The products will be available in select dispensaries by December 2020.
About Orchid Essentials
Orchid Essentials is an Irvine, CA-based cannabis innovation company, that launched in Oregon and California in August 2017 and has since developed a mass-market brand and loyal consumer following with its premium cannabis products and unique vape hardware delivery system. Since July 2019, Orchid has diversified its efforts and has brought to market innovative services and product offerings to support brands throughout the global cannabis industry. Orchid has diversified its portfolio to include PurTec Delivery Systems, a company that produces, markets and sells clean vaporizer hardware that has been emissions tested against the most stringent standards in the world set forth by the EU and has unrivaled product quality and value pricing. Orchid, through its wholly owned subsidiary, has launched a patented and clinically proven bioavailability solution to increase the absorption of THC and other cannabinoids making products much more effective and an activation time of less than ten minutes. With a continued focus on brand and intellectual property development, Orchid will continue to create new and innovative products and technologies, then bring them to the global cannabis marketplace and set the gold standard for delivery systems whether it's vape or formulation sciences. Orchid's management brings significant branding, product development and distribution experience with a proven track record of scaling businesses and building sustainable revenue growth through value-generating partnerships and innovation that creates enterprise value. Learn more at https://orchidessentials.com/
About 1933 Industries Inc.
1933 Industries is a vertically-integrated, growth-orientated company, focusing on the cultivation and manufacturing of cannabis consumer branded goods in a wide range of product formats. Operating through two subsidiaries, the Company controls all aspects of the value chain with cultivation, extraction, processing, and manufacturing assets supporting its diversified portfolio of cannabis brands and licensing partners. The Company owns 91% of Alternative Medicine Association, LC (AMA), and 100% of Infused MFG LLC.
About Alternative Medicine Association
AMA is a licensed medical and adult-use cannabis cultivation and extraction subsidiary that produces its own branded line of unique cannabis-based products and manufactures third-party brands. With state-of-the-art cultivation and extraction facilities based in Las Vegas, Nevada, AMA seeks to offer medical patients and recreational users alike a cannabis experience that's exceptional, potent, and consistent in quality.
About Canna Hemp™
With an extensive product line that includes topicals, creams, vapes, elixirs, capsules, dabs, lip balms and pre and post workout recovery sports products, 1933 Industries' proprietary Canna Hemp™ brand utilizes the power of hemp and CBD to bring natural wellness. The Company's flagship products, the Canna Hemp™ Relief Cream and Canna Hemp X™ Recovery Cream are recognized as best topicals in the market. Canna Hemp X™ is a CBD sports recovery cream for athletes, bridging the gap between recovery and top performance. All products are triple and third-party tested for safety with test results embedded via QR codes for traceability.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Notice regarding Forward Looking Statements: This news release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents, which can be found under the Company's profile on www.sedar.com. 1933 Industries undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE 1933 Industries Inc.