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Elixinol Global Ltd enters exclusive CBD supply agreement with Pet Releaf

The company is a global leader in the cannabis industry, selling hemp-derived CBD dietary supplements, hemp food and wellness products as well as holding a manufacturing licence for medicinal cannabis.

Elixinol Global Ltd - Elixinol Global Ltd enters exclusive CBD supply agreement with Pet Releaf
Pet Releafs organic, all-natural products are made in small batches and do not contain ingredients sourced from China

Elixinol Global Ltd’s(ASX:EXL)  wholly owned subsidiary Elixinol LLC has entered into a manufacturing and supply agreement with Altmed Pets, trading as Pet Releaf.

Pet Releaf is the pioneer and market leading brand for hemp-derived CBD oils, topicals and treats for pets with its products being sold in more than 4,000 independent pet stores across the USA.

Elixinol has exclusively produced and supplied CBD extract sourced from USDA Organic certified hemp strains, grown specifically for Pet Releaf since inception in mid-2014.

In April, Elixinol acquired a 25% equity interest in Pet Releaf.

READ: Elxinol purchases site for state-of-the-art Australian manufacturing facility

Elixinoil chief executive officer Stratos Karousos said: “This exclusive agreement with Pet Releaf further strengthens our relationship and ensures Pet Releaf’s products will have scalability and ongoing quality of supply.

“The agreement is consistent with Elixinol’s growth strategy, increasing distribution of our branded products through partnerships with trusted and highly regarded brands.”

Key components of the agreement are:

  • An initial 18 month term which can be renewed annually for multiple years;
  • Pet Releaf to purchase minimum US$18 million worth of products over the term; and
  • Pet Releaf to pay a deposit of US$1.18 million by way of three equal payments during the term of the agreement.

“Commitment to build on the excellent relationship”

Elxinol global chief technology officer Gabriel Ettenson said: “This agreement reflects Elixinol’s commitment to build on the excellent relationship both companies have enjoyed over many years and leverage sale supply chain efficiencies with extensive scalability, in-house scientific expertise and proprietary processing technologies.”

Quick facts: Elixinol Global Ltd

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ASX:EXL
Market: ASX
Market Cap: $93.77 m
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