CannaRoyalty Investee, Resolve Digital Health, Signs Major Product Deal with Aphria, One of Canada’s Largest Licensed Medical Cannabis Producers
Exclusive agreement to fill Resolve’s Smart Inhaler with Aphria cannabis products in Canada follows recently-announced U.S. distribution partnership
Ottawa, Canada – October 31, 2017 – CannaRoyalty Corp. (CSE: CRZ) (OTCQX: CNNRF) (“CannaRoyalty” or the “Company”), an active investor and operator in the legal cannabis industry, is pleased to announce that its investee company, Resolve Digital Health Inc. (“Resolve“), has signed an exclusive agreement with Aphria Inc. (“Aphria”), one of Canada’s largest licensed medical cannabis producers. The agreement will provide Resolve with a Canadian source of high quality cannabis products, which will be packaged and sold in its proprietary Breeze Smart Inhaler™ metered dosing system pods and cartridges.
Resolve’s Breeze Smart Inhalers provide accurate, metered, treatment solutions with pre-packaged, single use Smartpods™ that will now be filled with Aphria’s high quality dried herb or extract once the products launch in Canada. The inhalers use machine-learning algorithms to provide patients with learned dosing and strain selection appropriate to their medical condition, continuously improving the patient’s experience and the efficacy of the product.
“This agreement marks a significant milestone for Resolve as it prepares for commercial launch in the Canadian marketplace, following its successful financing earlier this year,” said Marc Lustig, CEO of CannaRoyalty. “We look forward to our continued partnership and to supporting Resolve in their brand development and distribution goals across North America.”
Rob Adelson, CEO of Resolve said: “Following our research and development phase, with strong backing from CannaRoyalty, we are now in a position to commercially launch our proprietary product suite in Canada and the U.S. The execution of this agreement is a critical step closer to our Canadian launch.”
Resolve also recently closed deals in both the US and Australian markets as it ramps up to begin domestic and international product distribution and sales. On October 11, 2017, Resolve granted Liberty Health Sciences Inc., an investor and operator in the medical cannabis market, exclusive distribution rights to its products in Florida. In the summer of 2017, Resolve formed a joint venture with Australia’s LeafCann Group Pty Ltd. (“LeafCann”), a leading cannabis medication production and development company. The venture granted LeafCann a license to register and promote Resolve’s Breeze Smart Inhalers in the Australian market.
Under CannaRoyalty’s previously announced investment relationship with Resolve, the Company holds 27.2% of Resolve’s existing shares on a non-diluted basis, which carries an implied value of approximately $7.1 million based on the financing price. The Company also provided seed capital and research and development resources to Resolve during the two-year development of its Breeze Smart Inhalers.
About Resolve Digital Health
Resolve Digital Health is the leading provider of standardized medical cannabis for patients suffering from cancer, arthritis, migraine headaches, chronic pain and other diseases. The company’s proprietary technology and cloud-based health information platform found in Resolve’s debut product Breeze addresses the numerous issues with currently available methods of cannabis delivery – establishing a standard of care and rigorous medical approach previously missing from the medical cannabis industry. With over two years of research and development, the complete product ecosystem will be initially available Spring 2017 in select dispensaries in the United States. For more information, visit www.resolvedigitalhealth.com.
CannaRoyalty is an active investor and operator in the legal cannabis sector. Our focus is building and supporting a diversified portfolio of growth-ready assets in high-value segments of the cannabis sector, including research, consumer brands, devices and intellectual property. Our management team combines a hands-on understanding of the cannabis industry with seasoned financial know-how, assembling a platform of holdings via royalty agreements, equity interests, secured convertible debt, licensing agreements and its own branded portfolio.
For further inquiries, please contact:
Marc Lustig, CEO
Jonathan Ross, CFA
LodeRock Advisors Inc.