AllStar Health & Tyme Cannabis Co Signs a Memorandum of Understanding (MOU) 'Growing Together to Dominate The Cannabis Market Throughout Ontario Canada'

Rhea-AI Summary

AllStar Health Brands Inc. has signed a Memorandum of Understanding (MOU) with Tyme Cannabis Co to expand the cannabis business in Ontario, Canada. The MOU is a Joint Venture Strategic Partnership and aims to add 70+ new retail locations in Ontario, subject to regulatory approval. Tyme Cannabis Co already has an operation in Hamilton, Ontario, which will serve as a foundation for the expansion. The companies plan to obtain necessary permits and licenses, funding, suitable locations, and develop a detailed expansion plan. Profits will be distributed 50/50 between Tyme Cannabis Co and AllStar Health Brands Inc.

Miami, Florida--(Newsfile Corp. - September 15, 2023) - AllStar Health Brands Inc. (OTC PINK: ALST) ("AllStar" or "the Company") Memorandum of Understanding (MOU) with Tyme Cannabis Co a significant step towards the expansion of the cannabis business throughout Ontario, Canada. Here are some key points to highlight based on the information provided:

The MOU is a Joint Venture Strategic Partnership between 2753727 ONTARIO INC. O/A Tyme Cannabis Co., and All-Star Brands Inc. (OTC PINK: ALST). Both Tyme Cannabis Co., and All-Star Brands Inc. (OTC PINK: ALST) intends to expand its retail presence in the Cannabis sector by adding 70+ new locations throughout Ontario, Canada. This expansion is subject to regulatory approval and will be carried out under Tyme's AGCO (Alcohol and Gaming Commission of Ontario) license.

Tyme Cannabis Co has an existing operation is based in Hamilton, Ontario in operation licensed by AGCO, and it serves as a foundation for the planned expansion. Peter Wanner, CEO/President, states, "By combining the knowledge, experience, and capabilities of both Tyme and AllStar, we think the outcome will be positive for all parties. In the future, the opening of more stores, offering more verities, will set us apart from other vendors in the cannabis space."

Tyme Cannabis Co., and All-Star Brands Inc. (OTC PINK: ALST) plans on obtaining necessary permits and licenses, funding, suitable locations, and developing a detailed expansion plan as they have tremendous confidence in the cannabis market's growth potential in this region. However, the exact number of new locations may vary depending on regulatory approvals, capital, and other factors and profits with be distributed 50/50 between Tyme Cannabis Co., and All-Star Brands Inc. (OTC PINK: ALST).

AllStar Health Brands Inc.:

AllStar Health Brands Inc. is a Nevada Corporation established in 2017, and headquartered in Miami, Florida. AllStar is a specialty HealthCare Products Company dedicated to improving health and quality of life by offering select, nutritional supplements, over the counter remedies, and medicines across North America and Europe. AllStar's goal is to bring additional products to the market and provide new, innovative options for better human health as well as grow the company through acquisitions, mergers, and joint ventures.

For further information, please contact:

Telephone: 416-918-6987
Email: peter.wanner@allstarhealthbrands.com
Website:www.allstarhealthbrands.com

SOURCE: AllStar Health Brands Inc.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/180714

FAQ

What is the news about AllStar Health Brands Inc. and Tyme Cannabis Co?

AllStar Health Brands Inc. has signed a Memorandum of Understanding (MOU) with Tyme Cannabis Co to expand the cannabis business in Ontario, Canada.

What is the Joint Venture Strategic Partnership between the two companies?

The Joint Venture Strategic Partnership aims to add 70+ new retail locations in Ontario, subject to regulatory approval.

Where is Tyme Cannabis Co's existing operation located?

Tyme Cannabis Co's existing operation is based in Hamilton, Ontario.

How will the expansion be carried out?

The expansion will be carried out under Tyme's AGCO (Alcohol and Gaming Commission of Ontario) license.

What is the profit distribution between Tyme Cannabis Co and AllStar Health Brands Inc.?

Profits will be distributed 50/50 between Tyme Cannabis Co and AllStar Health Brands Inc.