Today, PublicWire is looking at an emerging partnership coming to fruition in the Garden State.
Chemistree Technology Inc. US OTCQB: CHMJF (CHM:CN) is an investment company dedicated to the U.S. and international cannabis sector.
The Company currently owns assets in Washington State used to operate the Sugarleaf brand, and prospective cannabis cultivation lands in California. They also own a first investment in the Canadian cannabis sector through Pasha Brands, as well as a robust pipeline of assets to grow its base of business.
Chemistree is pleased to announce that its wholly owned U.S. subsidiary, American CHM Investments Inc., has signed a letter of intent to partner with Applied Cannabis Sciences of New Jersey, also known as ACS.
ACS is a medical retail dispensary applicant in the upcoming state round of request of applications, which is anticipated in 2020.
Recently appointed Chemistree board member Nico Escondido is a founding member of the Applied Cannabis Sciences team.
ACS was established by a team of seasoned professionals from the legal medicinal & adult use marijuana industry. Their collective experience exceeds 50 years and includes over 20 cultivation, processing, and manufacturing licenses across four adult-use states.
Their team is predominantly made up of professionals that reside in and currently operate from New Jersey and maintain multiple strategic relationships.
In a recent interview Karl Kottmeier, president and chief executive officer of Chemistree commented:
“We are really happy about establishing a partnership with this experienced group and the potential to expand Chemistree’s presence outside of California and Washington state and ultimately introduce our signature brand Sugarleaf to the large New Jersey consumer base.
The state is home to over nine million people currently being served by only 12 cannabis operators in its medical program. New Jersey is a logical place for Chemistree to expand into and bring the Sugarleaf brand to the Garden State market.
I would like to specifically thank Nico Escondido, our newest board member for the introduction to this exciting opportunity and I am impressed with the impact he has already had on our company!”Karl Kottmeier – President / CEO of Chemistree Technology Inc.