Cultivation Technologies, Inc. Executes Exclusive Manufacturing and Distribution Agreement with Phoenix Tears for THC-based Products in California
IRVINE, CA / ACCESSWIRE / July 12, 2018 /Cultivation Technologies, Inc. ("CTI"), a leading state-licensed manufacturer and distributor of cannabis products in California, announced it has signed an agreement with Phoenix Tears LLC to produce and distribute official Phoenix Tears THC products within the California market.
CTI's wholly-owned subsidiary, Coachella Manufacturing (www.CoachellaManufacturing.com), will act as the exclusive manufacturer for a full line of Phoenix Tears branded THC products - starting with vaporizer cartridges, vaporizer kits, full spectrum oil dispensers, and topicals. All products will feature formulations developed by Janet Rosendahl-Sweeney, who co-founded the Phoenix Tears organization (www.PhoenixTearsWellness.com). These products will be sold and delivered by Coachella Distributors (www.CoachellaDistributors.com). Coachella Manufacturing may partner with additional distributors in California to ensure maximum market penetration.
Through its cannabis research and formulations, Phoenix Tears has supported more than 200,000 individuals, and the brand and products now resonate globally.
In a press release distributed by Phoenix Tears, Janet Rosendahl-Sweeney noted "Licensed manufacturing facilities, sales force, and market knowledge certainly distinguish Cultivation Technologies in a highly-competitive, fast-moving business environment. Cultivation Technologies is a solid partner with the requisite resources and experience to help us quickly entrench our presence throughout California."
In exchange for providing formulations, production SOPs, and general assistance with marketing and demand creation - Phoenix Tears will receive a fee from Coachella Manufacturing for each product produced by the company for an initial term of six years.
Justin S. Beck, chief strategy officer and co-founder for CTI, stated "We're proud to have Phoenix Tears as part of our growing stable of trusted brands, and expect significant demand following our informal survey of the market this year. Californians will finally be able to purchase official Phoenix Tears products through our dispensary partners. These offerings will be produced with the rigor and time-tested formulas that have made Phoenix Tears a trusted brand."
ABOUT CULTIVATION TECHNOLOGIES
Cultivation Technologies, Inc. provides infrastructure, manufacturing, extraction, distribution, technology, and branding to the legal medical cannabis industry. The company owns 6-acres in Coachella, California, which is entitled for a 111,500+ square foot facility featuring cultivation centers, manufacturing facilities, a testing lab, a distribution hub featuring transportation, and a centralized processing center.
For more information, visit www.CultivationTech.com, www.CoachellaManufacturing.com, or www.CoachellaDistributors.com. The Company acquired temporary licenses for "Type 7" manufacturing and distribution from the State of California in January 2018 which operate from temporary facilities from the 6-acre Coachella site. State-licensed retailers in California are encouraged to contact Coachella Distributors to place pre-orders for Phoenix Tears products.
ABOUT PHOENIX TEARS
Phoenix Tears has two legally separate manufacturing companies that produce Cannabis products for consumer use. Phoenix Tears Network is focused in the Hemp Derived CBD market and produces products for distribution through traditional retail channels and the internet. Phoenix Tears LLC/Phoenix Tears Pharms LLC is focused in the medical marijuana market and produces products for distribution through Licensed Dispensaries in States that have adopted Medical Marijuana Laws. Phoenix Tears and its companies are considered one of the industry's foremost leaders in the research, production, and use of Cannabis solutions.
Phoenix Tears is headquartered in Denver, Colorado, and has offices in Las Vegas and New York.
This press release constitutes forward-looking statements within the meaning of federal securities laws. Such statements are based on our current beliefs and expectations and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, such forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Potential risks and uncertainties include, but are not limited to, CTI capitalizing the Coachella project, technical advances in the industry, as well as political and economic conditions present within the industry. Neither CTI nor Phoenix Tears takes any obligation to update any forward-looking statement to reflect events or developments after a forward-looking statement was made. This press release and the information contained herein is not an offer to buy or sell securities and does not contain investment advice.
Cultivation Technologies, Inc.
SOURCE:Cultivation Technologies, Inc.
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