Creso Pharma signed a Letter of Intent with ImpACTIVE Holdings to have its products distributed throughout Canada and the U.S., coming into effect in April.
Creso Pharma Limited (ASX:CPH) today signed a non-binding Letter of Intent (LOI) with ImpACTIVE Holdings Ltd, which will result in the distribution of Creso's hemp-derived CBD products across Canada and the United States.
The products that will be distributed as part of the LOI are Creso's human-focused health product ranges CannaDOL and cannaQIX®, and will also provide Creso with the right to distribute ImpACTIVE's CBD roller application in Switzerland and Europe.
Founded by current and former professional hockey players, ImPACTIVE seeks to alleviate pain suffered by athletes who have been injured by providing them with CBD-based products.
ImpACTIVE's products are designed to mitigate inflammation of joints and muscles while allowing athletes to avoid traditional narcotics or pharmaceuticals which have the capacity for addiction.
The agreement is set to become formalized on or before April 1st, 2021, which will see terms set out for ImpACTIVE's distribution of Creso's products throughout Canada and the U.S.
Further, Creso will also become an authorised distributor of ImpACTIVE's CBD based roll on product range, with an initial focus on Switzerland with launch expected to commence April 2021.
Creso aims to focus upon the growing sports and recreational markets, in addition to its existing wholesaler network in Switzerland which provides the company with over 2,100 points of sale across drugstores, retailers and pharmacies.
The initial term of the agreement is one year with automatic renewal unless a party chooses to not renew within 90 days prior to expiry.
This LOI is important for Creso Pharma, as it further broadens our international footprint and provides another large market
opportunity.Creso Pharma's Commercial Director, Jorge Wernli
Creso's Commercial Director Jorge Wernli, said: "We are very proud to enter the sports and recreational market with such a high caliber partner as ImpACTIVE. We look forward to working with ImpACTIVE to ensure all products are well received in Europe and North America, and also leveraging their innovative product range to further add to the Company's growing sales profile."
The launch of cannaDOL will be supported by high-profile influencer and two-time WFF World Vice Champion Jenny Dietschweiler, who added: "cannaDOL brings substantial fast relief to joints and the muscles after intensive training. It enables faster high-performance and re-achievement. cannaDOL is really the way to enhance mobility."
To learn more about Creso Pharma (ASX:CPH), visit the company page here.
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