CanaFarma Hemp Products Corp (CSE:CNFA, FRA:4K9). said its strategic partner, Winners Circle Genetics, Inc. (WCG), has completed its first 'drop' of products since the company entered into its term sheet with WCG announced on August 10, 2021.
The first drop consisted of the purchase by WGC - through the use of its working capital facility with CanaFarma - of approximately $185,000 worth of inventory of its exotic and proprietary cannabis strains, with its two previously marketed strains Peanut Butter & Jelly and Birkinz being fully sold out in under six weeks since the time of inventory purchase.
Products under WGC's newest strain, 1942, were delivered later than the first two, arriving in dispensaries in early September. Sales of that strain have been showing similar uptake as the first two strains in sales to date, the company said.
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In a statement, Vitaly Fargesen, SVP of Strategy for CanaFarma commented: "We are extremely pleased to see the success of this first drop by Winner's Circle. Being sold out of product in only 6 weeks is a great testament to the quality of their products and represents an exciting start to our relationship with Winner's Circle."
Winner's Circle Genetics is one of the leading genetics companies in the cannabis industry. WCG's world-class, proprietary and premium cannabis brands have taken the industry by storm with their award-winning strains.
CanaFarma Hemp Products is a full-service company operating in the hemp industry offering a full range of hemp-related products and services to the consumer wellness market. These products and services include growing high-quality hemp, providing hemp-processing services, and offering hemp-based products to consumers utilizing a well-established direct-to-consumer marketing approach.
Contact the author at jon.hopkins@proactiveinvestors.com