TopCanna’s insight of distribution and marketing and Fresh Bros.’ expertise in manufacturing will lead to the creation of a new kind of venture capital business in the Hemp Industry.
LAS VEGAS, NV, December 19, 2019 /24-7PressRelease/ — TopCanna is proud to announce that it received a $4 Million investment from a silent partner and has entered into a business development & manufacturing agreement with Fresh Bros. Hemp Co. to supply approximately $2 million of packaged hemp CBD products from its hybrid white labeling and business development center in Las Vegas.
In the summer of 2019, Fresh Bros. received a license approval from Clark County and the City of Las Vegas to manufacture CBD products. TopCanna projects purchases of ~$2 Million in various hemp CBD products (such products are expected to include a variety of tincture oil, gel caps, vape pens and water soluble products) with an option to increase such amount up to $8 million per year. “By securing long term revenue, this marks an important moment for both our companies,” said Sean Bloom, President and CEO, TopCanna, LLC.
In the first stage, we begin to process up to 40,000 tinctures a month, both for our TopCanna retail consumers and for our own white label customers. Bloom added that Fresh Bros. has an additional 15,000 square feet of space available for expansion which has the potential to increase its production capacity tenfold. Additionally, the expansion will greatly increase its capacity to formulate and produce the next wave of compliant full spectrum and broad spectrum products such as water soluble liquids, vaping products, and topicals. “TopCanna comes to the table with capital, vision and now a real strategy to become one of the leading finished product brands in the industry,” said Adam Rahman, President and CEO of Fresh Bros. “TopCanna is already available in all 50 states and over 12 nations. With our all-inclusive manufacturing services and their distribution channels, we see this agreement as an opportunity to expand our finished product line. our services and fulfillment centers.”
TopCanna’s longer-term goal is to broaden its reach through private labeling hundreds of different CBD companies itself, which is where Fresh Bros.’ expertise of white labeling comes into play. Meanwhile, the other $2M of the fund will be appropriated towards “marketing efforts” which will include events and other hemp CBD service companies to help its startups on their path.”We believe that the integration of TopCanna’s insight of distribution and marketing and Fresh Bros. expertise in manufacturing will lead to the creation of a new kind of venture capital business while providing our companies the edge we need to thrive in a hemp CBD ecosystem that is swamped with competitors,” said Sean Bloom, in a statement.
TopCanna and their website TheTopCanna.com is an online distribution platform for USA grown hemp derived CBD products. TheTopCanna.com has a database of over 15,000 customers and continues to experience massive growth. For more information please go to: https://thetopcanna.com
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