Wildflower Brand to Enter Washington Marijuana Market
VANCOUVER, British Columbia, March 23, 2015: Wildflower Marijuana Inc. (CSE: SUN) (the "Company") is pleased to announce it will be entering into a joint venture agreement with a licensed marijuana producer in Washington State. A letter of intent has been signed by both parties to develop 6 to 8 product lines for the Wildflower brand. In addition to the development of the Wildflower products, the Washington producer will also enter into a licensing agreement to distribute the Wildflower brand of products in Washington State.
The Washington market has approximately 366,000 cannabis users that consume approximately 175 metric tons of marijuana annually according to a study by the Rand Corporation. Washington State employs a three tier licensing system consisting of production, processing and retail licenses. The licensee entering into the agreement under the joint venture has both a production and a processing license and specializes in the manufacturing of cannabis concentrates. Through their production license the licensee has the ability to grow up to 1200 pounds of cannabis per year. Under this agreement all production will be sold under the Wildflower brand. The processing license allows the Company’s joint venture partner to buy further production if the demand for the Company’s line of products is greater than the allowable production. The processing license allows the partner to distribute to all retail outlets in Washington State.
Wildflower has hired Rethink, one of Canada’s most awarded agencies to develop the names and visual elements of the various product lines including all the packaging, labelling and in-store marketing material. Heading the brand and product development will be Wildflower’s brand advisor, Chris Staples who is currently ranked Canada’s top creative director.
President and CEO William MacLean states, “I’m excited about the opportunity to start developing the Wildflower product lines and becoming revenue generating. This opportunity has brought to Wildflower by Scott Walker, VP of Corporate Development and is a testament to how partnering with the right likeminded people can make attaining our goals a reality. We see this as a first step to entering many new markets and making Wildflower a global marijuana brand.”
About Wildflower Marijuana Inc.
Wildflower is a cannabis company advancing two applications to grow and distribute medical marihuana under an MMPR license with Health Canada. Wildflower’s proprietary growing system is designed to maximize crop yields and consistently produce pure clean pharmaceutical grade BC cannabis for patients and cannabinoid research.
On Behalf of the Board of Directors
Director and CEO
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