- Looking to stoke progress, Turning Point Brands (NYSE:TPB) pronounces a $15M strategic funding in world cannabinoid firm dosist.
- The firm says the deal contains an unique co-development and distribution settlement of a brand new nationwide CBD brand to be created in partnership with dosist’s thc-free enterprise unit.
- Additionally, Turning Point Brands has an possibility to speculate one other $15M at pre-determined phrases throughout the subsequent 12 months.
- “The cannabis market is exploding and now is the opportune time to invest in the space and significantly expand our addressable market,” says CEO Larry Wexler.
- “With its leadership in results-oriented plant-based formulas and dose control technology, global recognition, consumer trust and scalability, dosist was the clear choice to be our new partner in this critical growth market,” he provides.
- TPB +6.26% premarket to $34.99.
- Source: Press Release
- Turning Point Brands reported earnings earlier