Advanced Container Technologies, Inc. Strikes Deal with Grassfire Distro

Rhea-AI Summary

Advanced Container Technologies (Ticker: OTC:ACTX) has partnered with Grassfire Distro to distribute its products in Oklahoma, the leading medical marijuana market in the U.S. This collaboration aims to enhance sales opportunities, leveraging the state's rapid growth in cannabis demand. Oklahoma has surpassed $1 billion in sales since legalization, boasting over 9,000 licensed marijuana businesses, including 2,000 dispensaries. The ACTX portfolio includes the patented Medtainer, known for its innovative, air-tight packaging solution.

Positive

• Partnership with Grassfire Distro expected to boost sales.
• Oklahoma's cannabis market is the largest in the U.S. by per capita sales.
• ACTX's Medtainer offers unique, FDA-approved packaging solutions.

Negative

• None.

Leading distribution company will sell ACTX products in the nation’s hottest cannabis market

CORONA, Calif., Feb. 24, 2021 (GLOBE NEWSWIRE) -- Advanced Container Technologies, Inc. (Ticker: OTC:ACTX), stated it entered into an agreement with Grassfire Distro. Under the terms of the agreement, Grassfire Distro will sell and distribute Advanced Container Technologies’ products in the state of Oklahoma.

Grassfire Distro is one of the leading providers of cannabis products and accessories in the state of Oklahoma. The company offers flower, pre-rolls, nutrients, and now the ACTX line of packaging, including exit bags, retail containers, and its patented Medtainer system.

Oklahoma is now the biggest medical marijuana market in the country on a per capita basis, according to Politico News. Sales in the state have quickly surpassed $1 billion since legalization, and about 10 percent of the state’s population have acquired medical marijuana cards over the last two years – by far the highest percent of any state in the nation.

To meet that demand, Oklahoma has more than 9,000 licensed marijuana businesses, including nearly 2,000 dispensaries and almost 6,000 grow operations. In comparison, Colorado—the country’s oldest recreational marijuana market, with a population almost 50 percent larger than Oklahoma—has barely half as many licensed dispensaries and less than 20 percent as many grow operations.

“What is happening in Oklahoma is almost unprecedented among the 35 states that have legalized marijuana in some form,” according to Politico. “Oklahoma’s program has generated a hefty amount of tax revenue while avoiding some of the pitfalls of more intensely regulated programs.”

Advanced Container Technologies, Inc. CEO Doug Heldoorn said he believes that the partnership with Grassfire Distro will lead to increased sales opportunities for the company. “Having our products offered through one of the largest and most respected distribution companies in the state is good for our business,” Mr. Heldoorn stated. “Since we offer products needed throughout the cannabis eco-system - from growers and distributors to dispensaries and consumers – we anticipate increased demand for our products throughout the Grassfire Distro network.”

ACTX sells a variety of packaging solutions for the cannabis industry, including the Medtainer – a unique, air-tight packaging system that features a built-in grinder. Originally engineered as a solution to grind and store medications for pediatric and geriatric patients, the Medtainer has now been adopted into diverse markets including culinary, cannabis, and veterinary medicine. The product is manufactured with FDA-approved medical grade plastics and is certified child resistant. 

About Advanced Container Technologies, Inc.

Advanced Container Technologies, Inc. is in the businesses of selling and distributing hydroponic containers called GrowPods; and designing, branding and selling proprietary medical grade containers that can store pharmaceuticals, herbs, teas and other solids or liquids, and can grind and shred herbs; as well as selling other products and accessories, such as humidity control inserts, odor-proof bags, lighters, and plastic lighter holders; and provides private labeling and branding for purchasers of the Company’s containers and the other products. For more information visit: www.advancedcontainertechnologies.com.

Forward-Looking Statements
This release includes predictions or information considered "forward-looking" within securities laws. These statements represent Company's current judgments but are subject to uncertainties that could cause results to differ. Readers are cautioned to not place undue reliance on these statements, which reflect management's opinions only as of the date of this release. The Company is not obligated to revise any statements in light of new information or events.

Company Contact:
(951) 381-2555
info@advancedcontainertechnologies.com

Investor Relations:
Stuart Smith
SmallCapVoice.Com, Inc.
512-267-2430
ssmith@smallcapvoice.com

FAQ

What is the recent partnership involving ACTX?

Advanced Container Technologies has partnered with Grassfire Distro to distribute its products in Oklahoma.

Why is Oklahoma significant for ACTX?

Oklahoma is the largest medical marijuana market in the U.S., with over $1 billion in sales since legalization.

What products will ACTX distribute through Grassfire Distro?

ACTX will distribute packaging products, including its patented Medtainer, through Grassfire Distro.

How many licensed marijuana businesses are in Oklahoma?

Oklahoma has over 9,000 licensed marijuana businesses, including 2,000 dispensaries.

What is the Medtainer offered by ACTX?

The Medtainer is an innovative air-tight packaging system designed for storage and grinding, suitable for various markets including cannabis.