Cannabis brand Binske announced Monday it has partnered with the multistate operator MariMed Inc (OTC: MRMD) in a licensing deal.
The partnership will see Binske’s line of concentrates, edibles and topicals reach 52% of the legal consuming American public across 11 states, totaling 52.4 million people between 21 and 61 years old, according to the company.
Binske products are presently found in Colorado, Nevada, California and Florida. Under the deal, products will become available in Ohio, Maryland, Illinois, Massachusetts, Rhode Island, Delaware and Maine.
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The deal helps Binske reach "from Malibu to Martha's Vineyard," said Jake Pasternack, the founder, chairman and CEO of Praetorian Global LLC, Binske's parent company.
“That [customer] access, coupled with the ability for those consumers to know they will get the same Binske product, no matter where they buy it, is paramount to building consumer patronage and, most importantly, trust," the CEO said.
Praetorian Global said it holds 13 active licensing deals in the cannabis markets.
MariMed Chief Product Officer, Ryan Crandall spoke of the deal's importance for each brand.
"Binske's highly curated and dynamic product line will only further strengthen the reputation of our ever-expanding multistate distribution operation. This relationship will work to provide millions of consumers and patients across the country a level of consistent product access they have yet to really enjoy in the national marketplace.”
Binske expects its products to be available in over 700 American retail locations by the third quarter of 2020.
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Photo courtesy of Binske.
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