YourWay Cannabis Brands Inc. (CSE: YOUR) (OTC: YOURF) (FSE: HOB) (the “Company” or “YourWay“) today announced it has entered into an exclusive multi-year licensing agreement (the “Agreement“) with the cannabis lifestyle company Old Pal for an exclusive right and license to manufacture, produce, promote, distribute, and sell certain Old Pal-branded cannabis products in Arizona, including whole flower, pre-ground flower, pre-rolls, and distillate cartridges in association with the Old Pal brand.
The Agreement represents an opportunity for continued growth and helps position YourWay as a leading consumer-centric cannabis company in Arizona.
“We are thrilled to announce a brand partnership with Old Pal, a company that shares our consumer-centric approach, and to bring one of the strongest national brands to Arizona,” said Jake Cohen, Chief Executive Officer of YourWay Cannabis Brands. “Today’s announcement showcases our commitment to developing a comprehensive portfolio of brands and delivering against our three-pronged ‘House of Brands’ strategy of owned, partner and white label brands, creating sustainable long-term growth and shareholder value.”
Old Pal was launched in June 2018 with the promise of spreading the vision of a lifestyle brand centered around shareable, communal cannabis experiences. As of December 2021, BDSA ranked Old Pal-branded cannabis products as the third overall cannabis brand in their current roster of states. Old Pal is currently available in California, Massachusetts, Michigan, Nevada and Ohio. With a continued focus on expansion, Old Pal is slated to launch its cannabis products in two additional states within the first half of 2022.
“We’ve been impressed with YourWay Cannabis Brands’ commitment to excellence and dedication to building strong brands in the industry. Given our shared values, the decision to team with YourWay to bring Old Pal to Arizona was an easy one,” said Rusty Wilenkin, Co-founder and CEO of Old Pal. “Arizona is a strong market in the industry and we’re excited for Arizonians to try the Old Pal shareable experience.”
The initial term of the Agreement is three years, with the potential for additional and successive one-year extension periods. The Company expects to launch Old Pal-branded cannabis products at licensed retailers across Arizona in the first quarter of 2022.