- Auxly Cannabis (TSXV:XLY) subsidiary, Dosecann, has entered into an agreement with wellness company, GSW Creative Corporation Canada
- GSW has contracted Dosecann to manufacture and distribute its wellness vape devices
- Dosecann will receive an exclusive license to the intellectual property required to manufacture, distribute, and sell GSW’s dosist products
- The agreement is for a three-year term, but is subject to renewal for an additional two years
- Auxly Cannabis (XLY) is down 1.61 per cent and is currently trading at C$0.30 per share
Auxly Cannabis (TSXV:XLY) subsidiary, Dosecann, has entered into an agreement with wellness company, GSW Creative Corporation Canada.
GSW, doing business as dosist, has contracted Dosecann to manufacture and distribute dosist-branded wellness vape products. These include the new dose pen 100, a range of high-potency formulas called thc-plus, and a rechargeable dose pen system.
The company will give Dosecann an exclusive license to the intellectual property required to manufacture, distribute, and sell the products. In return, Auxly’s subsidiary will receive certain fees for such manufacturing and distribution.
Dosecann will manufacture the vape devices at its facility located on Prince Edward Island. The company will also use its well-established national distribution channels to bring the new dosist products to market.
The agreement has a three-year term, but is subject to renewal for an additional two years.
Auxly’s CEO, Hugo Alves, said the company is thrilled to expand its subsidiary’s business by manufacturing dosist’s wellness devices.
“Our arrangement with dosist allows us to leverage our sales and distribution reach, and maximise the use of Dosecann’s manufacturing capacity and expertise in making the highest quality products for consumers.
“As a premium wellness-focused brand with an international track record of success in California and here in Canada, dosist is a perfect fit within Auxly’s existing portfolio of branded cannabis products.
“We look forward to building our relationship with dosist, and continuing to deliver a compelling portfolio of cannabis products that delight consumers,” he said.
Auxly Cannabis (XLY) is down 1.61 per cent and is currently trading at C$0.30 per share at 2:55pm EDT.