California Cannabis Firm Expands Market Presence Through Strategic Sales Agency Agreement

California cannabis company, StateHouse Holdings Inc. STHZ STHZF, has forged a strategic sales agency agreement with Stinson Brands, Inc., a prominent player in the premium food and beverage brand development sector, particularly renowned for its fine herbal tea blends.

As part of this collaboration, StateHouse will introduce Stinson Brands' product line to the market through its sales channels, which include its own sales team and dispensaries like Harborside and Urbn Leaf across California.

StateHouse Holdings will leverage its partnership with distribution partner Nabis to venture into new product categories and elevate the success of Stinson's established brand portfolio, including Kikoko, a leading cannabis botanical wellness company specializing in plant-based, scientifically supported alternatives to pharmaceuticals and alcohol.

Ed Schmults, CEO of StateHouse, expressed enthusiasm about this partnership, emphasizing Kikoko's innovation and the potential for increased market visibility. Jennifer Chapin, CEO of Kikoko, echoed this sentiment, highlighting the growth prospects and the guidance provided by StateHouse and Nabis.

Option and RSU Grant Issued

• StateHouse granted a total of 4,600,000 options for the purchase of common shares to select directors, officers, and employees by the company's Stock Option Plan. These options will vest annually over four years and have a five-year expiration period from the date of grant.
• Additionally, the Company issued 784,000 restricted share units (RSUs) to certain directors, officers, and employees, granting them the right to receive common shares or their equivalent cash value, at the discretion of the company.

Price Action: STHZF shares were trading down 59.53% at $0.0225 per share Monday afternoon.

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Photo: Courtesy Of David Gabric On Unsplash