LOS ANGELES, June 4, 2019 /PRNewswire/ -- Quanta Inc. (QNTA), an applied science company focused on enhancing energy levels in plant matter, including hemp and cannabis, to increase performance within the human body, announced today that it has signed a Letter of Intent (LOI) with Global Cannabinoids to serve as exclusive nationwide wholesale and license reseller. The deal is expected to generate a minimum of $5 million annually for Quanta.
Global Cannabinoids is one of the largest producers and distributors of bulk and wholesale phytocannabinoid-rich (PCR) industrial hemp that is naturally high in CBD, CBG, CBC, CBN, CBDA, and terpenes, as well as one of the largest manufacturers of private-label CBD products in the US. The agreement is mutually beneficial for both companies, as it provides Quanta with access to Global Cannabinoids' sales channels allowing for expansion and revenue growth for its product lines. It also gives Global Cannabinoids a distinct advantage to sell Quanta's CBD oil and coinciding "Powered by Quanta" licenses as well as co-branding opportunities and ability to sell Quanta CBD Muscle Rub, Quanta Muscle Rub Plus and Quanta CBD Vape products.
"Our agreement with Global Cannabinoids provides a significant opportunity for us to increase revenue, enhance market share and expand our overall brand recognition while working with a high-quality partner," said Chief Executive Officer Eric Rice. "Global Cannabinoids' established distribution network and access to rare cannabinoids can significantly escalate our overall growth trajectory through sales and new product launches."
The global legal marijuana market is expected to reach $146.4 billion by the end of 2025, according to a new report by Grand View Research Inc. Growing adoption of marijuana in several medical applications such as cancer, mental disorders, chronic pain and others is expected to propel revenue growth in the near future. The market continues to grow thanks in part to the offering of new cannabis-related products. Recently, legal cannabis companies have increased exponentially. Producers are focused on expanding their customer pool by offering myriad portfolio of products and through geographical expansion. Products currently being offered include varieties of strains and extracts such as oils, tinctures, resins and consumables, based on concentration of cannabinoids like THC and CBD.
"We are extremely pleased to announce this new endeavor with Quanta, Inc." stated Mr. Ryan Lewis, Chief Operating Officer of Global Cannabinoids. "Quanta has proven to us, that their technology is truly innovative and unique, and will further diversify our product offerings to our global customer base."
Quanta Inc., an applied science company, focuses on enhancing energy levels in plant matter (including cannabis) to increase performance within the human body. Its proprietary technology uses quantum mechanics to increase bioactivity of targeted molecules to enhance the desired effects. The Company specializes in potentiating rare, naturally occurring elements to create impactful and sustainable healing solutions that are as powerful and predictable as pharmaceutical drugs. Quanta offers its technology as a platform to product makers through distribution channels as well as consumer products. The Company serves brands in cannabis, anti-aging, health and wellness, stress management, pain management, fitness and brain performance enhancement. Quanta's lead product, CBD Muscle Rub, is an all-natural topical that consists of 13 natural elements including turmeric, arnica and polarized cannabidiol (CBD), designed to provide relief from pain, inflammation and stiffness in muscles and joints. The Company was founded in 2016 and is headquartered in Los Angeles, California. For more information, please visit http://www.quantacbd.com/ and review Quanta's filings with the U.S. Securities and Exchange Commission.