Turning Point Brands invests $15M in dosist cannabis brand

  • Looking to stoke growth, Turning Point Brands (NYSE:TPB) announces a $15M strategic investment in global cannabinoid company dosist.
  • The company says the deal includes an exclusive co-development and distribution agreement of a new national CBD brand to be created in partnership with dosist’s thc-free business unit.
  • Additionally, Turning Point Brands has an option to invest another $15M at pre-determined terms within the next 12 months.
  • “The cannabis market is exploding and now is the opportune time to invest in the space and significantly expand our addressable market,” says CEO Larry Wexler.
  • “With its leadership in results-oriented plant-based formulas and dose control technology, global recognition, consumer trust and scalability, dosist was the clear choice to be our new partner in this critical growth market,” he adds.
  • TPB +6.26% premarket to $34.99.
  • Source: Press Release
  • Turning Point Brands reported earnings earlier

Source:  https://seekingalpha.com/news/3626337-turning-point-brands-invests-15m-in-dosist-cannabis-brand?mc_cid=6fb6d3a0f0&mc_eid=8292ba8d17

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