Nevis Brands (CSE:NEVI, OTCQB:PSCBF) said it has inked new licensing agreements in three US states as it restructures its partnerships to optimize production and sales.
The cannabis beverage company has partnered with Innovative Heath Solutions (IHS), an Ohio-based medical marijuana processor focused on patient-centric medicinal cannabis products.
In Arizona, the company signed an agreement with Genesis Bioceuticals LLC, a Phoenix-based producer known for its expertise in cannabis cultivation and wholesale relationships.
Genesis will handle the production of Major at its facility, leveraging its strong market connections.
And in Oregon, Nevis has partnered with Farmer’s First, a Portland-based, woman-owned cannabis wholesaler committed to promoting transparency and equity in the cannabis industry. Farmer’s First replaces Pharmer’s Market as Nevis’ licensee in the state.
The company terminated its agreements with Vext Science (CSE:VEXT, OTCQX:VEXTF) for the production and sale of its flagship cannabis beverage brand, Major, in Arizona and Ohio, as well as its partnership with Pharmer’s Market in Oregon.
Production and sales under the new agreements are expected to commence in January 2025, Nevis said in a statement.
“As markets evolve, we believe it’s important to align with licensees who are passionate about the opportunities available with cannabis beverages,” said John Kueber, CEO of Nevis Brands (CSE:NEVI, OTCQB:PSCBF). “We appreciate the opportunity to work with Vext in developing our markets in Arizona and Ohio and are looking forward to working with IHS, Genesis, and Farmer’s First to build on Major’s success in each of those respective markets.”
Major products remain available at dispensaries in Ohio, Arizona, and Oregon through previous partners.