Canada-Based CannaRoyalty just announced that it has inked an agreement via its investee company, Resolve Digital Health Inc., with Aphria Inc. for distribution of Breeze Smart Inhaler.
A recent press release just announced the exciting new agreement, which sees one of Canada’s largest licensed medical cannabis producers join forces with Aphria. According to the company, “Resolve’s Breeze Smart Inhalers provide accurate, metered, treatment solutions with pre-packaged, single use Smartpods™ that will now be filled with Aphria’s high quality dried herb or extract once the products launch in Canada. The inhalers use machine-learning algorithms to provide patients with learned dosing and strain selection appropriate to their medical condition, continuously improving the patient’s experience and the efficacy of the product.”
Meanwhile, CEO of CannaRoyalty, Marc Lustig, spoke enthusiastically about the new deal, telling reporters, “This agreement marks a significant milestone for Resolve as it prepares for commercial launch in the Canadian marketplace, following its successful financing earlier this year. We look forward to our continued partnership and to supporting Resolve in their brand development and distribution goals across North America.”
Rob Adelson, CEO of Resolve, also spoke excitedly about the agreement, “Following our research and development phase, with strong backing from CannaRoyalty, we are now in a position to commercially launch our proprietary product suite in Canada and the U.S. The execution of this agreement is a critical step closer to our Canadian launch,” he said.
Under CannaRoyalty’s previously announced investment relationship with Resolve, the Company holds 27.2% of Resolve’s existing shares on a non-diluted basis, which carries an implied value of approximately $7.1 million based on the financing price. The Company also provided seed capital and research and development resources to Resolve during the two-year development of its Breeze Smart Inhalers.
Resolve Digital Health provide standardized medical cannabis for patients suffering from a wide range of medical conditions, including, cancer, arthritis, migraine headaches, chronic pain and other diseases.
For their part, CannaRoyalty is an active investor and operator in the legal cannabis sector. Their main focus is research, consumer brands, devices and intellectual property.
It is hoped that this deal will pave the way for easier access to medical cannabis for patients in need, in Canada, and further afield.