Canadian cannabis technology company inks letters of intent with Oregon and Washington State producers
TORONTO – December 20, 2017 – Resolve Digital Health Inc. (“Resolve”), a Canadian devel- oper of intelligent cannabis delivery devices, continues on its path to expand North American distribution by signing letters of intent to form exclusive partnerships with MJ Farms Sedro Woolley, LLC (Washington State) and Cypress Services, LLC (Oregon).
Under the proposed agreements, Resolve will license the technology for its proprietary cannabis delivery pods and cartridges for manufacture and distribution on the Washington and Oregon regulated cannabis markets. Additionally, the relationship will grant rights to distribute Re- solve’s innovative, smart inhalation device to retailers providing the best delivery system on the market.
Resolve’s smart inhalers use machine-learning algorithms to provide consumers a tool to deter- mine the dosing and strain selection most appropriate to each consumer’s needs. The device captures data on medical conditions, prescriptions, family history, lifestyle, and effectiveness per dose, and uses that data to monitor efficacy and continuously improve the cannabis experience for consumers.
Rob Adelson, CEO of Resolve said: “As we continue to expand our distribution network across the US, Washington and Oregon represent two key markets. It was extremely important for us to find strong partnerships within those states. I’m proud to form this partnership with MJ Farms and Cypress Services, and look forward to working together to deliver a new standard of canna- bis care to the Pacific Northwest community.”
In a joint statement, Leah Kincaid of Cypress Services and Kerrie Carbary of MJ Farms said: “We are thrilled at the prospect of a partnership with Resolve. We believe our high quality can- nabis extracts paired with Resolve’s smart pod-based inhaler will raise the bar in the Pacific Northwest.”
In 2016, total cannabis sales in Washington and Oregon surpassed $1B1, accounting for 14% of total sales in the US. Looking forward, US cannabis sales are projected to grow from $7.3 bil- lion in 2016 to $24.5 billion in 2020.3
Across a growing number of jurisdictions, cannabis is being recommended to help relieve pain associated with cancer, and the management of chronic pain, arthritis, and joint disorders, multi- ple sclerosis (MS), fibromyalgia, and migraines, as well as relief for chemotherapy-induced nau- sea and vomiting.
Resolve’s proposed agreement with MJ Farms and Cypress Services builds on a series of re- cently announced distribution deals, including Liberty Health Services, an investor and operator within the state of Florida. Most recently, Resolve secured national distribution rights with Aphria Inc, a major producer, supplier and retailer of medical cannabis within the Canadian mar- ket. The addition of MJ Farms and Cypress Services reflects Resolve’s continued commitment to establishing a new standard of cannabis care through strategic partnerships.
About Resolve Digital Health
Resolve Digital Health is positioned to be the leading provider of a metered dosing ecosystem for cannabis devices for the medical and adult-use markets. The company’s proprietary technol- ogy, apps and cloud-based health information platform, found in Resolve’s debut product Breeze, address the numerous issues with currently available methods of cannabis delivery – establishing a data-driven standard of care based on a rigorous medical approach for the can- nabis industry. With over three years of research and development, the complete product eco- system will be initially available in select dispensaries and retail outlets in early 2018. For more information, visit: www.mybreeze.co or www.resolvedigitalhealth.com.
About MJ Farms
MJ Farms, dba Dynamic Processors is a high capacity, highly compliant I502 processing facility specializing in pharmaceutical and nutraceutical products infused with cannabis oil.
About Cypress Services
Cypress Services is a processing and distribution of legal cannabis and hemp infused products.
For more information:
Resolve Digital Health Inc.
130 King Street West, Suite 1800, Toronto M5X 1E3, Canada
Cypress Services, LLC
PO Box 112
Sedro Woolley, WA 98284
MJ Farms Sedro Woolley, LLC
624 Sunset Park Drive
Sedro Woolley, WA 98284
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION: Certain information in this news release constitutes “forward-looking information” and “forward-looking statements” under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be for- ward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “antici- pate”, “projections”, “expect”, “believe”, “plan”, “intend”, “estimated” or the negative of these terms and similar expres- sions. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Resolve, MJ Farms, Cypress Services, Aphria, Liberty or the collaboration between Resolve and these parties to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained in this news release. Examples or such forward-looking information includes, but is not limited to, statements with respect to the anticipated benefits of the collaboration between Resolve and the other parties, the receipt of third-party, regulatory and stock exchange approvals, the timeline for the availability of Resolve’s product lines, and the timeline for implementation. Forward- looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regula- tory developments involving cannabis; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the cannabis industry in the United States generally, income tax and regulatory matters; the ability of either party to implement its business strategies; competition; crop failure; currency and interest rate fluctuations and other risks.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reli- ance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-look- ing statements contained in this news release are expressly qualified by this cautionary statement.
1. Huden, Zoe, Canna Ventures, March 31, 2017. Cannabis Sales Data, Oregon Cannabis Industry
2. Huden, Zoe, Canna Ventures, April 3, 2017. Cannabis Sales Data, Washington Cannabis Industry
3. Borchardt, Debra. Forbes Magazine. February 22, 2017. Marijuana Industry Projected To Create More Jobs Than Manufacturing By 2020. Accessed on October 20, 2017.