Irwin Naturals To Enter Oregon Cannabis Market Via Hyphae Wellness

Irwin Naturals Inc. IWINF IWIN (FRA: 97X) signed a licensing agreement with JV 805 LLC dba Hyphae Wellness, to manufacture, sublicense and distribute Irwin Naturals THC products throughout that state.

Klee Irwin, CEO of Irwin Naturals, stated, “We’re excited and grateful to have such an incredible partner as we take this next step toward getting Irwin Naturals THC products on the dispensary shelves in every state where cannabis is legal. Oregon is an important market for us, and Geoff Ostrove is a true pioneer in the industry. The team at Hyphae Wellness not only provides state-wide distribution but can also ensure the high-quality that Irwin Naturals customers expect in our products.”

Irwin Naturals previously reached licensing agreements for the manufacture and distribution of its THC products in California, Colorado, Ohio, New Mexico, and Michigan. The addition of Oregon means that Irwin Naturals THC products are headed to dispensary shelves in five of the 19 states where marijuana is legal for recreational use, including three of the top five markets in the country.

Issuance of Warrants to Purchase SVS

Irwin Naturals has issued an aggregate of 20,000 warrants to purchase subordinate voting shares bearing an exercise price of $3.00 per subordinate voting share to a provider of event sponsorship services of the company, as payment of fees owed to such service provider. The aggregate deemed value of the warrants to be issued is $30,000, and the warrants will be subject to a hold period of four months. The warrants are being issued in lieu of cash in order to conserve the cash resources of the company.

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Photo: Benzinga; Sources: courtesy of jarmoluk and lindsayfox via Pixabay

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