Better Choice Company Signs Memorandum of Understanding with Choom for Distribution Rights of CBD Animal Health Products in Canada
NEW YORK, March 28, 2019 (GLOBE NEWSWIRE) -- Better Choice Company, Inc (OTCQB: BTTR) (OTCQB: BTTRD) (the “Company”) is pleased to announce that it has signed a memorandum of understanding (“MOU”) with Choom Holdings Inc. (Choom™) (CSE: CHOO; OTCQB: CHOOF) (“Choom”), an emerging adult and medical use cannabis company that has secured one of the largest national retail networks in Canada, for the exclusive Canadian distribution rights to Better Choice’s cannabidiol (“CBD”) Bona Vida brand of products targeted for animal health and wellness once approved for sale in Canada.
According to the American Pet Products Association, U.S. pet owners are estimated to have spent over $70 billion in 2018 on pet supplies, treatments and veterinary care. As CBD pet products become more readily available and accepted, well positioned suppliers and distributors will be able to exploit the tremendous opportunities for growth in the CBD pet sales.
Better Choice Products
Under its Bona Vida brand, Better Choice offers a suite of CBD pet focused products in the form of oils and soft chews with several formulations designed to aid the state of good health and well-being in pets. Bona Vida has formulations, which specifically target animals Relaxation & Heart Support, Muscle & Joint, as well as, Skin & Body.
“We are thrilled to have Choom as our distributor of CBD animal health products in Canada through their network. By having our products distributed by Choom, we will gain access to an expansive network that already believes in the health and wellness benefits of CBD. We believe this network targets likeminded consumers for our products and will be eager to offer their animals the natural benefits of CBD in the legally available channels,” said Damian Dalla-Longa, Co-Chief Executive Officer of Better Choice Company.
“We are excited that Better Choice has chosen us as their exclusive distributor in Canada for their pet focused CBD products,” states Chris Bogart, President and CEO of Choom. “We recognize the importance of growing our brand portfolio and having the sole distribution rights for Better Choice products helps us achieve that in an entirely new market on the horizon in pet use products. From what we know of in the United States, the CBD products for pet use market has proven to be a high margin business. As the normalization of cannabis-based products in Canada grows, consumers will begin to shift towards these new natural alternative treatments for their pets.”
Say hello to ChoomTM
Choom™ is an emerging adult use cannabis company whose mission is to establish one of the largest retail networks in Canada and the United States. The Choom brand is inspired by Hawaii's “Choom Gang”—a group of buddies in Honolulu during the 1970's who loved to smoke weed—or as the locals called it, “Choom”. Evoking the spirit of the original Choom Gang, our brand caters to the Canadian adult use market with the ethos of ‘cultivating good times’. Choom™ is focused on delivering an elevated customer experience through our curated retail environments, offering a diversity of brands for Canadians across a national retail network.
About Better Choice Company, Inc.
At the foundation of Better Choice is the belief that good health practices and nutrition contribute to and promote a higher quality of life. Recently, Better Choice entered into definitive agreements to acquire TruPet an online seller of pet foods, flea and tick products pet nutritional products and related pet supplies and Bona Vida, an innovative emerging CBD platform, focused on developing a portfolio of brand and product verticals within the animal and human health and wellness space. For more information, please visit and https://www.betterchoicecompany.com.
About TruPet, LLC.
TruPet, LLC and TruDog, a division of TruPet, were founded in 2013 by Lori Taylor. The family-owned animal health company based in Ohio currently employs 52 animal-loving employees. The company began after founder Lori Taylor lost her Great Dane, Truman, to cancer at an early age. Determined to find out why her vibrant dog developed cancer, she set out to learn the truth about pet products. Through her research, she discovered that most commercial products simply do not provide the level of nutrition and quality that dedicated pet parents demand, so she developed her own brand of freeze dried, biologically appropriate raw products for dogs. TruDog is the first division of TruPet LLC, which is currently launching lines of food, supplements, and pet care products for dogs, cats, and horses. The company is named in honor of Truman, the Great Dane who sparked the search for better pet products.
About Bona Vida Inc.
Bona Vida is a developer of a portfolio of brand and product verticals within the animal and adult health and wellness space and plans to become the preeminent player in the hemp-derived CBD industry. Importantly, Bona Vida will only be sourcing CBD from industrial hemp. Bona Vida is developing and operating in the hemp-derived CBD space and will focus on the following markets: Pets (dogs and cats), veterinary, livestock and human health and wellness. For more information, please visit: www.bonavida.com. Bona Vida can be reached at: firstname.lastname@example.org.
Better Choice Company, Inc.
Damian Dalla-Longa, Co-CEO
Better Choice Company, Inc.
Lori R. Taylor, Co-CEO
Released March 28, 2019