Nextleaf Solutions Ltd. said it has signed a wholesale and distribution agreement with National Cannabis Distribution Inc. (NCD), a wholly-owned subsidiary of Kiaro Holdings Corp., for wholesale distribution and supply of Glacial Gold in the Province of Saskatchewan.
Under the terms of the agreement, NCD will act as the exclusive provincial wholesaler and distributor of Glacial Gold branded CBD and THC products in Saskatchewan for an initial period of two years.
"The Saskatchewan model is unique and our partnership with NCD and Kiaro allows Glacial Gold to be distributed in two-thirds of the cannabis retailers in that provincial market," said Nextleaf CEO and co-founder Paul Pedersen in a statement.
"Since the launch of Glacial Gold vapes and distilled oilsin September, we have received nation-wide interest from cannabis retailers and consumers that enthusiastically recognize our brand from its prohibition days and are eager to consume it once again. We are delighted to partner with NCD to bring Glacial Gold CBD and THC products to loyal consumers in Saskatchewan with affinity for the brand, as well as expand our reach to new consumers looking for accessibly priced extracts," he added.
READ: Nextleaf Solutions signs supply agreement with Quebec-based Medicibis for Glacial Gold vapes and distilled oils
NCD is a leading wholesaler in the province of Saskatchewan, the only vertically integrated province in the Canadian cannabis market. The company distributes to over two-thirds of the market share in Saskatchewan and continues to build a solid portfolio of products with a commitment to providing craft, artisan, and boutique licensed producers a proven path to market within Saskatchewan. With multiple exclusive distribution partnerships in Saskatchewan and strategic feature planning, NCD has positioned itself as a leader within the cannabis supply community.
Monthly recreational cannabis sales in Saskatchewan reached $13.4 million in August 2021.
"We are excited to partner with Nextleaf to bring high-quality products like Glacial Gold vapes and distilled oils to the Saskatchewan market," said Brent McFadzen, General Manager of NCD.
"NCD is very pleased to be working with a first-class producer such as Nextleaf to further expand our product range in Saskatchewan and continue to introduce high quality Canadian cannabis brands to the market," added Kiaro CEO Daniel Petrov.
Based in Vancouver, British Columbia, Kiaro is an independent, omni-channel cannabis retailer and distributor. Through existing storefronts across British Columbia, Saskatchewan, and Ontario, and with the completion of the recent acquisition of Hemisphere Cannabis from Aegis Brands, Kiaro has 16 stores in operation and another two expected in early 2022. This is in addition to its wholesale distribution division servicing Saskatchewan, and ecommerce sites in Canada, the US and Australia.
Nextleaf launched its award-winning, prohibition-era brand Glacial Gold in British Columbia last month, receiving national attention for quality products at disruptive price points. Included in the initial launch of Glacial Gold were seven total SKUs, consisting of four 1-gram cannabis vapes and three distilled oils.
Glacial Gold Distilled CBD 50 Oil features high-purity distillate in a base of organic coconut MCT oil for a premium consumption experience, without premium pricing. A clean tasting and neutral oil allows for the greatest flexibility in use and consumption occasions. Glacial Gold has quickly become one of the top-selling brands of CBD oil in British Columbia.
The initial vape lineup from Glacial Gold is offered in two potency levels to match the consumer's tolerance level or consumption occasion. The Session THC Vape features a full potency THC profile for cannabis enthusiasts who seek a more elevated experience and connection. The Anytime 1:1 Vape is formulated with a balanced THC and CBD profile for consumers looking for a more moderate, go-to vape. The Glacial Gold Anytime Vape is currently the top value CBD 1:1 vape cart in British Columbia.
Nextleaf is a federally regulated producer of cannabis oil that owns one of the largest portfolios of US patents for the extraction and distillation of cannabinoids. Nextleaf distributes cannabis vapes and distilled oils under its award-winning prohibition-era brand, Glacial Gold, and supplies cannabis distillate to its wholesale customers.
Nextleaf's proprietary closed-loop automated extraction plant in Metro Vancouver efficiently transforms cannabis and hemp grown in British Columbia and throughout Canada into high-purity cannabis distillate at an industrial scale. Nextleaf is developing delivery technology and differentiated cannabinoid-based formulations through its Health Canada Research Licence with sensory evaluation of cannabis via human testing. The company owns 17 US. patents and has been issued 95 patents globally.
Contact the author at jon.hopkins@proactiveinvestors.com