Green Light Solutions Enters Manufacturing Service Agreement for CBD Product Line
VANCOUVER, British Columbia, May 28, 2021 (GLOBE NEWSWIRE) — Green Light Solutions (“GLS” or “the Company”), an innovation firm committed to driving excellence in the Cannabis industry, is pleased to announce its subsidiary, Joe’s Hemp Shack (“JOE’S”), entered a manufacturing agreement (the “Agreement”) with Peak Processing Solutions (“Peak”), a subsidiary of Althea, as part of bringing its LoFi CBD product line to the Canadian market.
Under the Agreement, Peak will provide private label formulation and packaging services, using JOE’S supplied full-spectrum CBD oil extracted from B.C. grown hemp for the upcoming launch of hemp-derived CBD products. The product, marketed under the LoFi brand, is expected to debut on the B.C. market in summer 2021.
“This partnership is key to accelerating our vision of delivering disruptive CBD products that differentiate on potency, quality and value. Working with a manufacturer who specializes in Cannabis 2.0 products aligns with our CBD product strategy,” said Walker Patton, head of Corporate Development at Green Light Solutions. “We eagerly anticipate the introduction of our LoFi brand to the Canadian CBD market and are confident that our CBD line of products will exceed the market standards for taste, quality and value.”
“We’re excited by the opportunity to partner with Green Light Solutions,” said Jaipaul Massey-Singh, Vice President of Business Development at Peak Processing Solutions. “Consumers are eager for CBD products that deliver high quality and great value, and we believe that through Green Light’s commitment to innovation and exacting standards that the LoFi brand will deliver what customers want.”
Under the terms of the Agreement, Peak will execute LoFi’s CBD oil formulation and packaging line on a forecast basis, with the opportunity to expand to additional LoFi brand offerings as the product cadence accelerates.
About Green Light Solutions
Green Light Solutions (GLS) is an innovation firm committed to driving excellence in the Cannabis industry. GLS delivers value across multiple cannabis verticals through an agile, tech-forward business model, following Cannabis and Hemp specific strategies in its subsidiary business units. The Company’s leadership team combines extensive experience in the cannabis industry with strong manufacturing and technology development expertise and a robust I.P. portfolio.
About Peak Processing Solutions
Peak Processing Solutions is a premier manufacturer of cannabis product formats working in partnership with customers to develop their visions and bring goods to market through quality, efficiency, and innovation. Based in a 40,000 square foot purpose-built facility, and with over 25 years of cannabis industry experience, Peak has the resources and abilities to support both licenced holders and those from traditional consumer good industries access to Canadian cannabis consumers.