A Canadian hemp company clinched a California distribution deal that may see its CBD-infused meals and waters on cabinets in 550 dispensaries.
Phivida Holdings of Vancouver, British Columbia, stated it struck the settlement Wednesday with Green Reef Distribution, a company in Santa Monica, California, that distributes hashish merchandise.
The Green Reef deal provides Phivida its first CBD presence within the U.S. market. Terms of the deal weren’t disclosed.
Phivida provides hemp-derived CBD to meals, juices and tinctures. The company’s inventory is traded on the Canadian Securities Exchange underneath the ticker image VIDA.
California is the world’s largest hashish market, however the state doesn’t but permit hemp manufacturing.
A California hemp regulation handed in 2016 allowed farmers to develop hemp underneath restricted circumstances.
But two years later this system is but to be carried out. The result’s that many CBD merchandise on the market in California are imported from out of state.
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