Irwin Natural’s (OTCQB: IWINF) Irwin Naturals Cannabis, Inc., entered into a licensing agreement with California-based The Hive Laboratory, LLC, which will produce and distribute some of Irwin Naturals’ formulas, such as Power to Sleep, which is augmented with THC.
“Our intention is to have Irwin Naturals branded THC products on dispensary shelves in most of the country’s 38 legal states,” said Irwin’s CEO, Klee Irwin. “The first state in which we are executing on our licensing strategy [California] is also the world’s largest cannabis market.”
Damien Perillo, The Hive’s owner, emphasized the importance of bringing mainstream brand names into the cannabis industry: “We wondered if it would be a major beverage company or another CPG giant. Indeed, we’re pleased it turned out to be from the family of companies owned by Irwin Naturals.”
For Perillo, that a brand sold in big-box retailers is also sold in cannabis dispensaries means a sign of validation for the industry.
