Hollister Biosciences Inc., the creator of California's #1 hash infused pre-roll HashBone, announces joint venture agreement with Tactical Relief to manufacture and distribute cannabis-derived CBD tinctures in California targeted to veterans and 1st responders with PTSD.
VANCOUVER, Feb. 7, 2020 /PRNewswire/ - Hollister Biosciences Inc. (CSE: HOLL, FRANKFURT: HOB) (the "Company" or "Hollister") is pleased to announce that it has entered into a letter of intent (the "LOI") to complete a Joint Venture Agreement (the "Joint Venture" or the "Agreement") with Tactical Relief, a Veteran-founded hemp-based CBD oil brand. Upon completion of the Agreement, Hollister and Tactical Relief will collaborate on the development and marketing of cannabis tinctures throughout the California market.
Branded under Tactical Relief, the first cannabis tincture to be manufactured will feature a 20:1 ratio of THC to CBD, recognized for its medicinal properties in treating PTSD. True to the manufacturing mission of Hollister, the 20:1 tincture is crafted in small, artisanal batches for optimal quality and made from premium California-grown cannabis.
Under the terms of the Agreement, Tactical Relief will contribute artwork, logos and package design for a series of cannabis tinctures. On an ongoing basis, Tactical Relief will be financially responsible for all design and marketing. Hollister will be responsible for all aspects of production and procurement of underlying materials. All production of cannabis products will take place under Hollister's supervision and licenses, and Hollister will be responsible for all costs associated with production and shipping. Tactical Relief and Hollister will further explore the development and marketing of additional cannabis-based tinctures, as well as expanding into out-of-state markets over coming years.
Tactical Relief's new tincture(s) will be distributed exclusively by Hollister's distribution partner, Indus Holdings Inc. (CSE: INDS) and is anticipated to be in dispensaries throughout California by March 01, 2020. An estimated 5% net profits of all sales will be donated to charity. Revenue generated on the tincture product line will be shared 60:40 between Hollister and Tactical Relief.
"Tactical Relief is a patriotic brand with a powerful message," said Adam Smith, a Green Beret veteran, and Co-Founder of the Tactical Relief brand and US representative at Allied. "We launched this product to change the ways in which veterans and first-responders suffering from PTSD can choose to treat themselves, and with the Hollister Biosciences strategic alliance, we will be able to provide even more alternative treatments to those suffering. Part of the Tactical Relief mission is to use as many holistic treatment methods that have been shown to assist with post-traumatic stress disorder (PTSD) and traumatic brain injury (TBI). This partnership with Hollister Biosciences will help move this mission forward."
"It's always been our vision to share the wellness benefits of the cannabis plant with as many people as we possibly can," said Carl Saling, Founder, CEO and Director of Hollister Biosciences Inc. "We take great pride in providing only the highest quality products and innovation, and we are excited to be teaming up with TACTICAL RELIEF™ to reach new audiences and help out those who have sacrificed so much for us all."
About Tactical Relief
Started by a Green Beret and trainer of Law Enforcement, Tactical Relief creates, promotes and sells the highest quality and most patriotic CBD oils in the country. Tactical Relief's CBD oils are full spectrum, and currently made from the highest quality hemp grown in Kentucky. Owner Adam Smith is a Green Beret with nearly 17 years in service and experienced firsthand how CBD can help retired and active-duty (military and law enforcement) ease their physical and mental issues - especially those who suffer from PTSD and TBI. Tactical Relief is on a mission to end the stigma around hemp and cannabis products, and to provide relief to as many service members as possible.
About Hollister Biosciences Inc.
Hollister Biosciences Inc. is a California based vertically integrated cannabis company with a vision to be the sought-after premium brand portfolio of innovative, high-quality California-grown cannabis and hemp products. Hollister uses a vertically integrated, high margin model, controlling the whole process from manufacture to sales to distribution or seed to shelf. Products from Hollister Cannabis Co. include HashBone, the brand's premier artisanal hash-infused pre-roll, along with solvent-free bubble hash, pre-packaged flower, pre-rolls, tinctures, vape products, and full-spectrum high CBD pet tinctures. Hollister Cannabis Co. additionally offers white-labeling manufacturing of cannabis products. Our wholly owned California subsidiary Hollister Cannabis Co is the 1st state and locally licensed cannabis company in the city of Hollister, CA birthplace of the "American Biker."
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information: This news release includes certain statements that may be deemed "forward-looking statements". The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "would", "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
SOURCE Hollister Biosciences Inc.