Irwin Naturals Expands Licensing Footprint for Branded THC Products to Ohio

Rhea-AI Summary

Irwin Naturals Inc. (CSE: IWIN) (OTC: IWINF) has licensed its brand to BeneLeaves Ltd, an Ohio-based cannabis manufacturer. The partnership aims to produce and distribute products, including the THC-infused Power to Sleep. With this agreement, Irwin expands into states with an estimated $8.7 billion in cannabis sales in 2021. CEO Klee Irwin highlighted the brand's recognition among over 100 million individuals.

This agreement represents Irwin's third such collaboration within a month, emphasizing its strategic growth in the cannabis sector.

Positive

• Partnership with BeneLeaves enhances brand presence in Ohio's cannabis market.
• Third licensing agreement in one month shows rapid growth strategy.
• Access to an estimated $8.7 billion cannabis market improves revenue potential.

Negative

• None.

LOS ANGELES, May 24, 2022 (GLOBE NEWSWIRE) -- Irwin Naturals Inc. (CSE: IWIN) (OTC: IWINF) (FRA: 97X) (“Irwin” or the “Company”) announced today it has licensed its brand to BeneLeaves Ltd, an Ohio manufacturer of cannabis products. BeneLeaves will produce and distribute formulas such as Irwin Naturals’ Power to Sleep with THC.

Irwin’s CEO, Klee Irwin, said, “It is clear that the value of our highly trusted brand, known by over 100 million people**, is recognized by operators in the cannabis industry. With this agreement, the third in one month, we will now have our THC augmented products in states with 2021 cannabis sales of around $8.7 billion¹. We are excited about our entry into Ohio, and look forward to working with the team at BeneLeaves, one of the largest in-state manufacturers and distributors with a reputation for quality of product and service, as well as a strong focus on driving rapid growth.”

Bill Williams Jr., President and CEO of BeneLeaves, commented, “Adding the Irwin Naturals brand to our portfolio is a game-changer for us and the Ohio market. To have a brand that is trusted by millions entering the sector is a validation of the mainstreaming of medical cannabis, and will help further erode mental barriers to adoption of this amazing plant. We are proud to have been selected as the Irwin Natural partner to bring these amazing products to the people of Ohio.”

About Irwin Naturals

Irwin Naturals has been a household name and best-in-class nutraceutical company since 1994. It is now leveraging its brand into both the cannabis and psychedelic sectors. On a mission to heal the world with plant medicine, Irwin has operated profitably for over 27 years*. The growing portfolio of products is available in more than 100,000 retail doors across North America, where 80% of households know the Irwin Naturals brand**. In 2018, the Company first leveraged its brand to expand into the cannabis industry by launching hemp-based CBD products into the mass market. The Company is now leveraging its famous halo of brand trust to become, perhaps, the first household name brand to offer THC-based products. Its rapidly growing national chain of psychedelic mental health clinics is called Irwin Naturals Emergence.

*Under several corporate structures, Klee Irwin has operated the Irwin brand profitably since 1994, as measured by EBITDA adjusted for extraordinary costs.

**Based on a formal Company survey with a sample size of 500 randomly selected adults.

For investor-related information about the Company, please visit ir.irwinnaturals.com/

To contact the Company’s Investor Relations department, please call toll-free at (800) 883-4851 or send an email to Investors@IrwinNaturals.com.

“Klee Irwin”
________________________________
Klee Irwin
Chief Executive Officer
T: 310-306-3636
investors@irwinnaturals.com

Forward-Looking Information

This news release contains certain forward-looking statements that reflect the current views and/or expectations of management of the Company with respect to performance, business and future events. Forward-looking statements can often be identified by words such as "may", "will", "would", "could", "should", "believes", "estimates", "projects", "potential", "expects", "plans", "intends", "anticipates", "targeted", "continues", "forecasts", "designed", "goal", or the negative of those words or other similar or comparable words. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates. The Company does not undertake any obligation to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

Neither the CSE nor its Market Regulator (as that term is defined in policies of the CSE) accepts responsibility for the adequacy or accuracy of this release. 

SOURCE: Irwin Naturals Inc.

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¹ Sources: https://cannabusinessplans.com/california-cannabis-market/#:~:text=In%202021%2C%20California%20retail%20stores%20sold%20over%20%245.2,five%20states%20represented%2050%20percent%20of%20U.S.%20sales.
Source: https://mjbizdaily.com/colorados-2021-cannabis-sales-set-another-annual-record-at-2-22-billion/
https://www.cannabisstocktrades.com/oklahoma-medical-cannabis-sales-on-pace-to-hit-1-billion-in-2021/#:~:text=Oklahoma%20is%20on%20pace%20to%20do%20%241%20billion,months.%20Here%20are%20some%20more%20details%20from%20mjbizdaily.com.
https://www.crainscleveland.com/jeremy-nobile-blog/ohio-topped-381-million-marijuana-sales-2021#:~:text=Ohio%20reported%20at%20least%20%24381%20million%20in%20medical,the%20full%20story%20and%20other%20breaking%20news%20today.

FAQ

What is Irwin Naturals' recent licensing agreement about?

Irwin Naturals has licensed its brand to BeneLeaves Ltd to produce and distribute cannabis products in Ohio.

How does Irwin Naturals plan to expand its cannabis offerings?

By partnering with manufacturers like BeneLeaves, Irwin Naturals aims to introduce THC-based products into new markets.

What market is Irwin Naturals targeting with its latest agreement?

Irwin Naturals is targeting Ohio, a state with approximately $8.7 billion in cannabis sales in 2021.

How many licensing agreements has Irwin Naturals signed recently?

Irwin Naturals has signed three licensing agreements within a month.

What product will BeneLeaves produce under Irwin Naturals' brand?

BeneLeaves will produce the THC-infused product Power to Sleep.