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Better Choice Company Announces Intention To Form An Animal Health & Wellness Joint Venture With cbdMD

Better Choice Company, Inc. (OTCQB:BTTR) (the "Company" or "Better Choice"), an animal health and wellness company, today announced the execution of a non binding letter of intent to form a joint

Benzinga · 02/10/2020 13:04

Better Choice Company, Inc. (OTCQB:BTTR) (the "Company" or "Better Choice"), an animal health and wellness company, today announced the execution of a non binding letter of intent to form a joint venture ("JV") with cbdMD, Inc. (NYSE:YCBD, YCBD PR A)))), a leading cannabidiol (CBD) consumer brand.
 

Subject to the negotiation and execution of definitive agreements both parties intend to contribute certain CBD animal health related assets, including brands, CBD supply, logistics, service agreements, intellectual property, back office support and other assets with the mutual goal of expanding their respective hemp derived CBD pet brands, in exchange for 50% ownership in the newly formed JV.

Initially, the JV will be focused on launching "Halo Hemp", "powered by cbdMD", which will be manufactured by Better Choice utilizing cbdMD's CBD supply. Both parties will leverage their sales teams, marketing capabilities, online presence, and distribution channels to maximize the economies of scale of the partnership.