Cannabis One Holdings Inc (OTC: CAAOF) (CNSX: CBIS) announced Wednesday it's merging with ONE Cannabis Group, offering growth opportunities for both cannabis retail and product brands they work with on a global scale.
This merger melds together Cannabis One’s house of brands business model focused on aggregating, distributing and producing top-tier brands, with OCG’s franchise model. The combined company expects to see exponential revenue growth through high-margin franchising, brand distribution and over 85,000 sq. ft. of indoor cultivation capacity.
“This is truly a combination of equals. Together, our two teams have complementary strengths that will bolster each other’s abilities where it’s needed most,” Mike Weinberger, COO of ONE Cannabis, told Benzinga. “By joining forces, we will be able to scale our retail franchise, Unity Rd., more quickly and have direct access to a collection of first-class products for our franchise partners.”
Adding to these comments, Jeff Mascio, CEO of Cannabis One, told Benzinga, “One Cannabis’ first of its kind franchise model, merged with the strategic optimization and distribution opportunities of Cannabis One. This merger of brands brings a completely transformative value proposition to the overall cannabis industry."
ONE Cannabis has 15 signed Unity Rd. dispensary franchise agreements in five states, and distribute products to over 900 retail dispensary locations across Colorado, Nevada, Oregon and Washington.
"The increasing velocity of expansion through this merger will give global access to developing cannabis brands unlike any other company in the industry has done previously," Mascio said.