TORONTO, Oct. 18, 2018 /PRNewswire/ — Kindred Partners Inc., a Toronto-based specialty cannabis brokerage serving the adult recreational use market, announced today that it is now operational. The sales brokerage will leverage the deep experience of its sister-company, Breakthru Beverage Canada, in working with Canadian control boards, licensed distributors and retailers to broker regulated cannabis products for the recreational market. Kindred now provides brokerage services and a route-to-market platform across Canada in an exclusive partnership with CannTrust, one of Canada’s leading licensed producers and most trusted brands for medical cannabis. Canadians from coast-to-coast will have access to CannTrust’s standardized cannabis products with the new recreational legislation and launch of four recreational brands – liiv, Synr.g, Xscape, and Peak Leaf (Peak Leaf available only in BC). CannTrust is poised to be a leader in Canada’s recreational cannabis market.
Long-time alcohol beverage industry executive David Prodanovic was appointed General Manager of Kindred by its Board of Directors. Prodanovic has served in roles of increasing responsibility at Labatt, Diageo, Constellation Brands, and Breakthru Beverage Canada.
“CannTrust has a strong reputation in the medical cannabis field, and we are thrilled to partner with them in extending their reach to the recreational cannabis market,” said David Prodanovic, Kindred’s General Manager. “We believe this partnership provides a great opportunity for mutual, long-term growth in an emerging market and we look forward to growing our relationship.”
Prodanovic and his team will focus on effective channel management by educating customers providing product knowledge and capitalizing on strategic growth opportunities. By working together, Kindred and CannTrust have an opportunity to leverage their expertise and be at the forefront of shaping a high-performing and socially-responsible model for the emerging recreational market.
The regulatory model is similar to what is currently in place for beverage alcohol across Canada. Although owned by Breakthru Beverage Group, Kindred will operate separately from the beverage alcohol brokerage, Breakthru Beverage Canada.
Breakthru Beverage Group purchased 902,405 common shares of CannTrust at a purchase price of CAD$10.23 (US$7.93) per share for an aggregate price of CAD$9,231,600 (US$7,153,569). In addition, Breakthru Beverage Group has been issued warrants to purchase from CannTrust up to an additional 2,000,000 common shares in the aggregate at a price per share equal to the 5-day volume-weighted average price on the TSX immediately prior to the date the applicable warrants are exercised, if CannTrust exceeds certain sale thresholds. US dollar conversions are at the applicable exchange rate (CAD$1.00 = US$0.7749) and are rounded off.
About Kindred
Kindred Partners Inc. is a wholly-owned Canadian subsidiary of Breakthru Beverage Group representing CannTrust specialty cannabis products to the Canadian recreational market. This dedicated cannabis sales brokerage operates independently from its sister company, Breakthru Beverage Canada, a leading Canadian beverage alcohol broker. For more information, please visit www.kindredcanada.ca.
About Breakthru Beverage Group
Breakthru Beverage Group is one of the leading alcohol wholesalers in the United States and the largest broker in Canada representing a full total beverage alcohol portfolio of spirits, wine and beer. Across its North American footprint, Breakthru employs more than 7,000 associates who align a nimble and insightful approach to sales, marketing and operations. Family ownership is active in the business and committed to being stewards of heritage and champions of innovation. For more information, visit www.BreakthruBev.com.
About CannTrust
Since its inception in 2014, CannTrust has led the Canadian market in producing standardized cannabis products.
As a federally regulated licensed producer, CannTrust brings more than 40 years of pharmacy and healthcare experience to the medical cannabis industry. CannTrust currently operates its 450,000 sq. ft. Niagara Perpetual Harvest Facility. The 600,000 sq. ft. greenhouse expansion has begun and is fully funded. CannTrust’s broad product portfolio is prepared and packaged at the 60,000 sq. ft. manufacturing Centre of excellence in Vaughan, Ontario.
CannTrust is committed to research and innovation, as well as contributing to the growing body of evidence-based research regarding the use and efficacy of cannabis. Its product development teams along with its exclusive global pharma partner, Apotex Inc., are diligently innovating and developing products that will make it easier for patients to use medical cannabis. CannTrust supports ongoing patient education about medical cannabis and has a compassionate use program to support patients with financial needs.
For more information, please visit: www.canntrust.ca.
SOURCE Kindred Partners Inc.
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