Hill Incorporated Announces New DehydraTECH Licensing Agreement with Leading Multi-State Operator MariMed Inc.
Vancouver, British Columbia --News Direct-- Hill Incorporated
In a multi-year deal, MariMed licenses DehydraTECH to power new and improved versions of products under their top-selling cannabis edibles brands ‘Vibations’ hydrating drink mix and ‘K Fusion’ chewable tablets, with additional brands and new products expected to follow.
MariMed’s DehydraTECH-powered fast-acting products are expected to hit shelves in Massachusetts, Maryland, Illinois, and Delaware in the coming months.
Toronto, ON. - TheNewswire - November 16, 2023 — Hill Incorporated, formerly Hill Street Beverage Company Inc. (TSXV:HILL) (OTC:HSEEF) ("Hill” or the "Company"), is pleased to announce that on November 3, 2023, its DehydraTECH commercialization partner Dehydr8, LLC (“Dehydr8”) executed a new definitive multi-year sublicensing deal with leading multi-state cannabis operator MariMed Inc. (“MariMed”), for an initial term ending June 30, 2026, with an option to renew for an additional 5 years.
MariMed will use the patented DehydraTECH biodelivery technology to power the next generation of cannabis edibles sold under several of its award-winning brands. These new and improved versions of MariMed products were precisely developed and tested to deliver better efficacy, speed of onset, consistency, and taste. Product innovation using DehydraTECH has also enabled MariMed to create products that meet a wider range of consumer needs and taste profiles.
Craig Binkley, CEO, comments: “We want to recognize the Dehydr8 team for their tireless efforts in completing the intensive R&D and product development efforts with the exceptional MariMed team, culminating in today’s announcement that DehydraTECH has been selected by another industry trailblazer committed to delivering the highest-quality and most effective cannabis products to consumers. Hill continues to work very closely with the Dehydr8 team to develop relationships and commercial manufacturing operations for DehydraTECH with companies and brands that are bringing proven CPG philosophies and practices to the cannabis market. I congratulate both partners for their commitment to quality and innovation and look forward to consumers getting the benefits of DehydraTECH product improvement in the strong MariMed brands that they love.”
Over the next few months, MariMed will roll out the improved DehydraTECH products, including ‘Vibations™’ all-natural, full-spectrum cannabis drink mix and ‘K Fusion™’ chewable tablets, in Massachusetts, Maryland, Illinois, and Delaware.
Today’s announcement represents continued expansion by Hill on the key factors driving the growth agenda of its DehydraTECH licensing business, as detailed in the Company’s October 24, 2023 Management’s Discussion & Analysis. The following chart shows the significant advances we have made year-over-year in the DehydraTECH licensing business, beginning from the December 2020 rights acquisition through December 2023 (expected).
About MariMed (CSE: MRMD) (OTCQX: MRMD)
MariMed Inc., a multi-state cannabis operator, is dedicated to improving lives every day through its high-quality products, its actions, and its values. The Company develops, owns, and manages seed to sale state-licensed cannabis facilities, which are models of excellence in horticultural principles, cannabis cultivation, cannabis-infused products, and dispensary operations. MariMed has an experienced management team that has produced consistent growth and success for the Company and its managed business units. Proprietary formulations created by the Company’s technicians are embedded in its top-selling and award-winning products and brands, including Betty’s Eddies™, Nature’s Heritage™, InHouse™, Bubby’s Baked™, K Fusion™, Kalm Fusion™, and Vibations™, which are trademarks of MariMed Inc. For additional information, visit www.marimedinc.com.
About Hill Incorporated (TSXV: HILL) / (OTCQB: HSEEF)
Hill Incorporated is a progressive bioscience implementation company that is dedicated to building pathways to better and healthier living by leveraging our deep CPG expertise to commercialize leading-edge technologies to craft superior cannabis solutions and non-alcoholic beverage products globally. Our Hill Avenue Cannabis business unit is pioneering the space where craft consumer products meet bioscience by combining our deep CPG commercialization expertise with our rights to use Lexaria Bioscience Corp’s ground-breaking DehydraTECH patent portfolio for product development, licensing and B2B and B2C sales of cannabis ingredients or products on a global scale. Our Hill Street Beverages business unit represents the Company’s legacy alcohol-free consumer beverage marketing and distribution business.
For more information on our business activities visit www.hillincorporated.com, to learn more about our DehydraTECH cannabis biodelivery technology, go to www.dehydratech-thc.com, or to check out Hill Street Beverage’s award-winning alcohol-free wine line-up and order product to be delivered straight to your home, go to www.hillstreetbeverages.com.
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For more information, contact:
Craig Binkley, Chief Executive Officer
Email: craig@hillincorporated.com
Phone: 604-609-6154
MariMed Company Contact:
Howard Schacter, Chief Communications Officer
Email: info@marimedinc.com
FORWARD-LOOKING STATEMENTS
Statements in this press release may contain forward-looking information. Any statements in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “would”, “anticipate”, “expects”, and similar expressions. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances, such as future availability of capital on favourable terms, may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release. The Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as required by securities law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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