Wiz Khalifa Partners With Supreme Cannabis
Supreme Cannabis Company Inc (OTC: SPRWF) and rapper Wiz Khalifa's Khalifa Kush Enterprises have entered into a partnership to release a line of premium cannabis products.
What Happened
The agreement between Supreme Cannabis Company and Khalifa Kush Enterprises Canada, a subsidiary of Khalifa Kush Enterprises includes exclusive consulting services. Khalifa Kush Enterprises will provide cannabis-related consulting services to Supreme Cannabis.
The term of the partnership is five years, with Supreme having the option to expand it to another five years. KKE Canada will receive 5.75 million shares of Supreme Cannabis and an initial cash payment of CA$1.0 million ($746,300). KKE will also receive annual royalty payments every year based on the sales.
Why It's Important
Khalifa Kush, also known as Wiz Khalifa OG, is a hybrid that was bred specifically for Wiz Khalifa. The formula for the strain is kept in secret, but its aromas and effects are said to be similar to OG Kush and provide a lemony taste with earthy notes. The strain contains around 26 percent THC and helps with fatigue and stress, as well as recreation and relaxation.
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What's Next
Supreme will exclusively produce and sell KKE branded products in Canada and possibly international markets, other than the U.S. The product lineup will include pre-rolls, extracts, capsules and cannabis oils.
Both companies will also work together on developing a cannabis strain based on Wiz Khalifa's proprietary strain Khalifa Kush.
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Photo credit: digboston, Flickr
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