Business
Better Choice Company Signs Memorandum of Understanding with Choom for Distribution Rights of CBD Animal Health Products in Canada
Better Choice Company Signs Memorandum of Understanding with Choom for Distribution Rights of CBD Animal Health Products in Canada.
About this update from Choom Hldgs Inc.
[{"type":"text","content":"\nNEW YORK, March 28, 2019 (GLOBE NEWSWIRE) -- Better Choice Company, Inc (OTCQB: BTTR) (OTCQB: BTTRD) (the “Company”) is pleased to announce that it has signed a memorandum of understanding (“MOU”) with Choom Holdings Inc. (Choom™) (CSE: CHOO; OTCQB: CHOOF) (“Choom”), an emerging adult and medical use cannabis company that has secured one of the largest national retail networks in Canada, for the exclusive Canadian distribution rights to Better Choice’s cannabidiol (“CBD”) Bona Vida brand of products targeted for animal health and wellness once approved for sale in Canada.\n According to the American Pet Products Association, U.S. pet owners are estimated to have spent over $70 billion in 2018 on pet supplies, treatments and veterinary care.  As CBD pet products become more readily available and accepted, well positioned suppliers and distributors will be able to exploit the tremendous opportunities for growth in the CBD pet sales. Better Choice ProductsUnder its Bona Vida brand, Better Choice offers a suite of CBD pet focused products in the form of oils and soft chews with several formulations designed to aid the state of good health and well-being in pets.  Bona Vida has formulations, which specifically target animals Relaxation & Heart Support, Muscle & Joint, as well as, Skin & Body. “We are thrilled to  have Choom as our distributor of CBD animal health products in Canada through their network. By having our products distributed by Choom, we will gain access to an expansive network that already believes in the health and wellness benefits of CBD. We believe this network targets likeminded consumers for our products and will be eager to offer their animals the natural benefits of CBD in the legally available channels,” said Damian Dalla-Longa, Co-Chief Executive Officer of Better Choice Company. “We are excited that Better Choice has chosen us as their exclusive distributor in Canada for their pet focused CBD products,” states Chris Bogart, President and CEO of Choom. “We recognize the importance of growing our brand portfolio and having the sole distribution rights for Better Choice products helps us achieve that in an entirely new market on the horizon in pet use products.  From what we know of in the...