VANCOUVER, Feb. 7, 2020 /PRNewswire/ - Hollister Biosciences Inc. (CSE: HOLL, FRANKFURT: HOB) (the "Company", "Hollister Cannabis Co." or "Hollister") is proud to announce its licensing agreement with Tommy Chong to manufacture and distribute Tommy Chong's Cannabis™ Full Spectrum Elixir 1:1.
The tincture, branded Tommy Chong's Cannabis™ Full Spectrum Elixir 1:1, features a 1:1 ratio of THC to CBD, recognized for its medicinal properties. True to the manufacturing mission of Hollister Cannabis Co., the 1:1 tincture is crafted in small, artisanal batches for optimal quality and made from premium California-grown cannabis.
The tincture, Tommy Chong's Cannabis™ Full Spectrum Elixir 1:1, will be distributed exclusively by Hollister Cannabis Co.'s distribution partner, Indus Holdings, Inc. and is anticipated to be in-dispensaries throughout California by March 01, 2020. Hollister is anticipating producing up to 25,000 units of Tommy Chong's Cannabis™ Full Spectrum Elixir 1:1 during the 1st 12 months of executing the agreement with an estimated retail price of $70 per unit all sold through Hollister's distribution partner.
In discussing the partnership with Hollister Cannabis Co., Tommy Chong shared, "I only partner with the best-in-class companies and I am really pleased to have the Hollister Cannabis Co. bring their amazing Tommy Chong's Cannabis™ Full Spectrum Elixir to the market for me".
Hollister Cannabis Co., CEO, Carl Saling shared, "We are honored and excited to be partners with such a legendary and Iconic star as Tommy Chong. Tommy has experienced the medical benefits of cannabis and we are looking forward to working together to launch Tommy Chong's Cannabis Full Spectrum Elixir into the California Legal Cannabis marketplace".
About Tommy Chong's Cannabis
As one-half of the legendary comedy duo Cheech & Chong, Tommy Chong helped pioneer a completely unique brand of comedy directed at the counter-culture movement of the early '70s. At the heart of this brand of entertainment was cannabis. On-screen and off Tommy became a vocal advocate for his favorite herb. In a time where cannabis had to be talked about in whispers, Tommy was a loud voice for the advocacy movement, working tirelessly to destigmatize the use of this healing plant. With the legalization of recreational cannabis, Tommy's voice continues to ring out loudly, touting its benefits and place in society. Now, Tommy is thrilled to share that passion and knowledge of cannabis with the rest of the world. Using his lifelong connections in the industry, he has made it his personal mission to share the very best product available with his fans and fellow herb connoisseurs. If anyone knows weed, its Tommy. And now fans of comedy and cannabis alike can experience the strains and products that Tommy himself has hand selected.
About Hollister Biosciences Inc.
Hollister Biosciences Inc. is a California based vertically integrated cannabis company with a vision to be the sought-after premium brand portfolio of innovative, high-quality California-grown cannabis and hemp products. Hollister uses a vertically integrated, high margin model, controlling the whole process from manufacture to sales to distribution or seed to shelf. Products from Hollister Cannabis Co. include HashBone, the brand's premier artisanal hash-infused pre-roll, along with solvent-free bubble hash, pre-packaged flower, pre-rolls, tinctures, vape products, and full-spectrum high CBD pet tinctures. Hollister Cannabis Co. additionally offers white-labeling manufacturing of cannabis products. Our wholly owned California subsidiary Hollister Cannabis Co. is the 1st state and locally licensed cannabis company in the city of Hollister, CA birthplace of the "American Biker."
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information: This news release includes certain statements that may be deemed "forward-looking statements". The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "would", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com
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SOURCE Hollister Biosciences Inc.