CannaRoyalty, FloraCal Farms to Develop, Sell Branded Cannabis Products
CannaRoyalty Corp., an active investor and operator in the legal cannabis industry, recently announced that it has signed a binding Letter of Intent (LOI) with FloraCal Farms to enter into a strategic partnership regarding craft premium cannabis flower production, branding and sales, and other strategic initiatives.
The LOI also contemplates the receipt by CannaRoyalty of the exclusive global rights to license FloraCal’s full Intellectual Property portfolio, inclusive of brand, outside of California.
FloraCal is a family-owned and operated cultivator in Northern California that handcrafts, brands and packages small batches of ultra-premium cannabis flower.
FloraCal’s products are currently available in more than 210 dispensaries. CannaRoyalty and FloraCal will jointly execute a purpose-built expansion into CannaRoyalty’s existing 20,000 square foot facility in Sonoma County.
“We have assessed several cultivation facilities and flower brands across North America over the past three years, and FloraCal’s facility and products were an outlier in terms of product presentation, brand recognition and overall quality. FloraCal’s success has demonstrated that at the high-end of the cannabis flower market, top-quality branded products can consistently obtain premium pricing and capture a meaningful portion of downstream profits,” said Marc Lustig, CEO of CannaRoyalty.
For more information, please visit www.cannaroyalty.com.