LAS VEGAS, NV / ACCESSWIRE / May 12, 2021 / MJ Harvest, Inc. (OTCQB:MJHI) MJHI") announces that MJHI, through its affiliate, PPK Investment Group, Inc. ("PPK"), has signed a term sheet with International Brands Group (IBG). Where PPK will produce, manufacture, sell and market a new Chronic Brand THC infused product line in the State of Oklahoma (OK); the terms and negotiations were led by Joe Bradley, Principal Consultant. PPK currently grows, extracts, manufactures, and distributes Country Cannabis branded products to over 1000 dispensaries in the OK market. IBG manufactures, and distributes Chronic Candy, a Hemp CBD infused edibles brand, and other industry related products in all allowable states. Under the agreement, PPK will have the right to sell any and all Chronic Brand's products in Oklahoma.
IBG will provide marketing support and brand development and will receive a percentage of sales revenues generated under the arrangement. As PPK and IBG enter new markets, PPK will have the right of first refusal to undertake manufacturing and distribution operations for the Chronic Brand on terms comparable to arrangement in Oklahoma.
IBG, with its Chronic Candy brand, was a first mover in the Hemp CBD industry and since 1998, has established a reputation for producing and distributing high-quality CBD products. These efforts have given IBG a national footprint for the Chronic Candy line. With this agreement, IBG intends to replicate the Chronic Candy CBD success with the Chronic Brands THC line through PPK.
The agreement provides PPK with additional products to offer its current pool of over 1000 dispensaries, while also filling its manufacturing capacity and broadening its manufacturing capabilities. PPK and IBG will initially develop the operational model in Oklahoma with the consultation and support of Joe Bradley, and expect that this model can then be extended to numerous other markets in the near future.
MJHI CEO Patrick Bilton stated, "We are excited to be part of the PPK - Country Cannabis and IBG - Chronic opportunities and look forward to our continuing investment into PPK." PPK President, Clinton Pyatt echoed this sentiment stating, "The relationships with MJHI and IBG allow PPK to grow our product line offerings to distributors and dispensaries, and to rapidly expand our capacity and reach." Chronic Candy founder, Tony Van Pelt noted "Our relentless focus on quality and brand development is a perfect fit with the capabilities of PPK and we look forward to replicating the iconic presence and success of our Chronic Candy Brand with our new line of Chronic THC products."
This press release contains forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections. Although the forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company assumes no obligation to update any forward-looking statement to reflect any event or circumstance that may arise after the date of this release.
CONTACT:
MJ Harvest, Inc.
9205 West Russell Rd., Ste. 240
Las Vegas, NV 89148
Telephone: 954.519.3115
[email protected]
@HARVESTMJ
SOURCE: MJ Harvest, Inc.