LOS ANGELES, May 24, 2022 (GLOBE NEWSWIRE) -- Irwin Naturals Inc. (CSE: IWIN) (OTC: IWINF) (FRA: 97X) ("Irwin" or the "Company") announced today it has licensed its brand to BeneLeaves Ltd, an Ohio manufacturer of cannabis products. BeneLeaves will produce and distribute formulas such as Irwin Naturals' Power to Sleep with THC.
Irwin's CEO, Klee Irwin, said, "It is clear that the value of our highly trusted brand, known by over 100 million people**, is recognized by operators in the cannabis industry. With this agreement, the third in one month, we will now have our THC augmented products in states with 2021 cannabis sales of around $8.7 billion1. We are excited about our entry into Ohio, and look forward to working with the team at BeneLeaves, one of the largest in-state manufacturers and distributors with a reputation for quality of product and service, as well as a strong focus on driving rapid growth."
Bill Williams Jr., President and CEO of BeneLeaves, commented, "Adding the Irwin Naturals brand to our portfolio is a game-changer for us and the Ohio market. To have a brand that is trusted by millions entering the sector is a validation of the mainstreaming of medical cannabis, and will help further erode mental barriers to adoption of this amazing plant. We are proud to have been selected as the Irwin Natural partner to bring these amazing products to the people of Ohio."
About Irwin Naturals
Irwin Naturals has been a household name and best-in-class nutraceutical company since 1994. It is now leveraging its brand into both the cannabis and psychedelic sectors. On a mission to heal the world with plant medicine, Irwin has operated profitably for over 27 years*. The growing portfolio of products is available in more than 100,000 retail doors across North America, where 80% of households know the Irwin Naturals brand**. In 2018, the Company first leveraged its brand to expand into the cannabis industry by launching hemp-based CBD products into the mass market. The Company is now leveraging its famous halo of brand trust to become, perhaps, the first household name brand to offer THC-based products. Its rapidly growing national chain of psychedelic mental health clinics is called Irwin Naturals Emergence.
*Under several corporate structures, Klee Irwin has operated the Irwin brand profitably since 1994, as measured by EBITDA adjusted for extraordinary costs.
**Based on a formal Company survey with a sample size of 500 randomly selected adults.
For investor-related information about the Company, please visit ir.irwinnaturals.com/
To contact the Company's Investor Relations department, please call toll-free at (800) 883-4851 or send an email to [email protected].
Chief Executive Officer
This news release contains certain forward-looking statements that reflect the current views and/or expectations of management of the Company with respect to performance, business and future events. Forward-looking statements can often be identified by words such as "may", "will", "would", "could", "should", "believes", "estimates", "projects", "potential", "expects", "plans", "intends", "anticipates", "targeted", "continues", "forecasts", "designed", "goal", or the negative of those words or other similar or comparable words. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates. The Company does not undertake any obligation to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.
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SOURCE: Irwin Naturals Inc.
1 Sources: https://cannabusinessplans.com/california-cannabis-market/#:~:text=In%202021%2C%20California%20retail%20stores%20sold%20over%20%245.2,five%20states%20represented%2050%20percent%20of%20U.S.%20sales.