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| Patented tobacco processing technology expected to be disruptive to the recreational cannabis pre-roll market |
Perth, Australia, Vancouver, British Columbia and Greenville, North Carolina, Nov 3, 2022 - (ACN Newswire) - WestCann Holdings Ltd. ("WCH" or the "Company") is pleased to announce that it has signed an agreement with IOTO USA, LLC ("IOTO") for the exclusive global licensing of all uses with cannabis and hemp of IOTO's patented technologies for the reconstitution of plant matter.
Originally developed for the primary processing of tobacco, IOTO's technologies allow for complete homogenization of cannabis as well as for full process control over the active ingredients and smoking characteristics. As a result, precision tobacco cigarette making and packaging equipment can be utilized for pre-roll manufacturing, creating a highly consistent and reproducible consumer product with significant quality and cost advantages.
The Company's wholly owned subsidiary WestCann Processors Inc. is planning to start the manufacturing of reconstituted cannabis pre-rolls for the Canadian recreational market at its Yorkton, SK facility by December 2022 and expects its products to be available to consumers through licensed retail stores in early 2023.
CEO Andreas Gedeon: "I'm convinced that our products will be disruptive to the existing pre-roll market, which is one of the single biggest growing segments in the cannabis industry. I believe that consumers will quickly appreciate our convenient format and the fact that they can always get the same experience with the next pack they purchase, all at a discount to what they are used to paying right now."
The exclusive license to IOTO's technologies complements WestCann's portfolio of custom engineered automatization solutions, including its patented child resistant hinge lid pack that is certified for use in Canada, the U.S., Switzerland and the EU.
Over the course of the next year, the Company plans on partnering with licensed operations in several U.S. states for additional installations of its fully automated pre-roll making and packing lines, as well as on preparing to be a first mover in the upcoming recreational cannabis markets in Germany and Thailand.
For further information please visit www.westcann.com or contact Andreas Gedeon, CEO at andreas@westcann.com.
About WestCann
WestCann Holdings Ltd., based in Perth, WA and its wholly owned subsidiaries WestCann Processors Inc, 102021671 Saskatchewan Inc. in Canada and Laika Brands, LLC in Nevada are focusing on the transfer of tobacco processing technologies to the recreational cannabis markets. For more information on WestCann please visit www.westcann.com.
About IOTO
IOTO USA, LLC, a subsidiary of IOTO International in Brazil, is a global leader in the provision of flavorings and reconstitution technologies for tobacco. For more information on IOTO please visit www.iotointernational.com.
PRESS RELEASE CONTACT
Andreas Gedeon
+1 (250) 713-6302
andreas@westcann.com
Topic: Press release summary
Source: WestCann Holdings Limited
Sectors: Cannabis
https://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
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