Tilray Brands, Inc. TLRY TLRY and Charlotte’s Web Holdings, Inc. CWBHF CWEB have entered into a strategic alliance which includes licensing, manufacturing, quality, marketing and distribution for Charlotte’s Web CBD hemp extract products in Canada.
“Charlotte’s Web is thrilled to be partnering with Tilray Brands, a respected global category captain. This underscores our strategic expansion into international markets with leading domestic partners by leveraging well-established infrastructure, co-production, and route-to-market capabilities,” stated Jacques Tortoroli, CEO of Charlotte’s Web. “Our collective goal is to bring full spectrum CBD-lifestyle wellness options to the Canadian market that will answer consumers’ demand for safe, high-quality, trusted CBD products.”
The endeavor will address specific need states for Canadians by replicating the success of Charlotte’s Web’s core offerings in the U.S. with its line of full spectrum hemp extract products, including, naturally flavored oil tinctures, topical creams, and functional gummies for daily wellness and night-time use. Hemp-derived CBD falls under the same regulatory framework in Canada as cannabis; and therefore, Charlotte’s Web will be available through traditional Canadian cannabis sales channels. Establishing Charlotte’s Web’s supply chain and distribution in Canada also prepares for the contemplated introduction of natural health products regulations and potential ability to sell CBD products through traditional pharmacies in Canada.
First availability of Charlotte’s Web products in Canada is expected in early 2023 for hemp extract oil tinctures, followed by gummies and topicals.
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Photo: Benzinga; Sources: courtesy of geralt, lindsayfox via Pixabay
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