Geocann inks major retailer distribution deal

FORT COLLINS — Geocann LLC, a Fort Collins-based cannabinoid product maker, recently secured a retail distribution deal with Opticann Inc. to sell it’s VESIsorb formulated hemp products in outlets including CVS, Walgreens, Rite-Aid, Kroeger, Walmart and Costco. “We are delighted to reach an agreement with Opticann for the largest and one of the most strategically important channels of distribution in the U.S. marketplace,” Geocann CEO Jesse Lopez said in a prepared statement. “Opticann’s leadership team has a proven track record of achieving industry-leading market share positions by pioneering innovative cannabis products with strong brands and unrivaled consumer appeal. I’m confident this pedigree of strategic execution will translate perfectly to Opticann’s future success.” Geocann will receive a combination of cash, equity, and royalty payments in exchange for distribution rights, according to a company news release.  Terms of the deal were not disclosed. “Together with Geocann, we share a commitment for building leading health-care brands that consumers recognize for having superior safety, purity and performance. Our partnership was built with these elements as its bedrock,” Opticann founder Neil Closner said in a statement.
Source: BizWest

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