Charlotte’s Web Holdings Inc. CWEB-T has signed a deal with Tilray Brands Inc. TLRY-Q for the manufacturing, marketing and distribution of Charlotte’s Web CBD hemp extract products in Canada.
Financial terms of the agreement were not immediately available.
The deal means Charlotte’s Web’s full spectrum CBD products will be available in Canada through Tilray’s distribution network.
The companies say Charlotte’s Web hemp extract previously had only been available to Canadians that qualified for a special access medical exemption through Health Canada.
Under the deal, Tilray will acquire and extract Charlotte’s Web proprietary hemp biomass and manufacture it into the final product at its production facilities in Canada.
The products are expected to become available early next year starting with hemp extract oil tinctures, followed by gummies and topicals.