After inking a deal with The Hive Laboratory last month, Irwin Naturals Inc. (OTCQB:IWINF) announced a new deal with Assurance Laboratories LLC.
Irwin Naturals’ subsidiary, Irwin Naturals Cannabis Inc. by which it will enter into an agreement with New Mexico-based Assurance for the licensing of Irwin’s formulas augmented with THC.
The deal seems quite similar to the one signed with The Hive, but with the addition that recreational marijuana just recently started commercialization in New Mexico.
“We are executing towards our objective of having Irwin Naturals branded THC products on dispensary shelves in most of the country’s 38 legal states,” said Klee Irwin, Irwin Natural’s CEO. “The timing of this agreement is fortuitous as New Mexico only last month legalized cannabis recreationally, significantly increasing the market opportunity.”
John E. Mancini, the owner of Assurance, called the deal with Irwin Naturals “a game-changer” for the company. “We are delighted to have been selected by Irwin Naturals as their partner, and we look forward to bringing their highly trusted brand to the people of New Mexico."
Irwin Naturals recently shared its financial results, showing a $100 million yearly revenue, and has been expanding its ketamine capabilities, with the goal of becoming America’s largest ketamine-assisted therapy chain.
