BevCanna Enterprises Inc., a cannabinoid-infused beverages manufacturer, has reportedly inked a non-binding LOI (letter of intent) with Weed Pool Cannabis Co-operative Ltd (WPCC).
According to sources familiar with the knowledge of the matter, WPCC will supply and sell BevCanna’s cannabis-infused beverage products and top-end extracts to their retail distribution network in Saskatchewan. Both parties are expected to ink a definitive agreement with the next 120 days.
As a network of independently owned cannabis retailers, WPCC is the largest cannabis buyers group in Saskatchewan and represents over 50% of legal cannabis sales in the province. As a wholesaler, WPCC focuses on collective procurement and bargaining and is authorized by the Saskatchewan Liquor and Gaming Authority (SLGA).
As per the terms and conditions of the deal, both the companies need to enter into a definitive agreement to sell and distribute BevCanna’s products in the province of Saskatchewan. The final agreement will also outline additional commercial terms.
Speaking on the deal, John Campbell who is the Chief Strategic Officer for BevCanna commented that WPCC fits right into their aim of collaborating with top distributors in their local markets. He emphasized the autonomy of the retail group and praised WPCC’s understanding of the retail landscape as it represents 20 licensed retailers.
He also talked about the good relations WPCC has developed with bodies supervising the cannabis market, which in turn, will help BevCanna to bring their extracts and cannabis-infused beverages into the province.
For the record, BevCanna is located in the Fertile Okanagan Valley in British Columbia, Canada and has the rights to pristine spring water aquifer and an international production facility accredited by HACCP for an outdoor cultivation site of 40,000 square feet, with an existing total bottling capacity of up to 210 M bottles per annum.