First International Marijuana Infused Product Deal Announced
Today I wore an O.penVape t-shirt to work (no one in my building consumes cannabis, I like to think it’s a sneaky move), and I also receive the below press release. It’s like the universe knows that I have been out of vape pen cartridges and pens for too long…All personal consumption matters aside, this is very big news. As far as I know, there has never been an international deal like this one before:
O.penVAPE Announces Historic Licensing Agreement With Jamaica’s Timeless Herbal Care
Denver based O.penVAPE, the largest consumer cannabis brand, has announced a groundbreaking alliance with Jamaican cannabis company, Timeless Herbal Care. The association marks the first time in history an international collaboration has been created to produce cannabis infused products outside of the United States. The partnership is projected to generate over $100M (USD) in revenue in the first 10 years.
Timeless Herbal Care planted the first legal cannabis plant alongside the Jamaican Minister of Justice, the Hon. Mark J. Golding on April 20, 2015 on the University of the West Indies campus. According to Courtney Betty President/CEO “Timeless has been there from the very beginning and we will continue to play a leading role in establishing Jamaica as the medical marijuana hub of the world.”
The country’s Minister of Tourism has noted the importance of marijuana tourism based on its success in Colorado. In 2014, Colorado began sales of cannabis to adults 21 and over. Over the same time period, visits to Colorado increased by 7.4%, 185% greater than the national average, with a total of $18.6 billion dollars (USD) spent in the state. Jamaica had 2.8 million tourist visits in 2014 representing an increase of 8% year over year. 1.4 million Americans are projected to journey to Jamaica in 2015, with over 28,000 eligible to participate in the newly legal Jamaican medical cannabis program. One of the attractions for travelers is the reciprocity offered in Jamaica for medical marijuana cardholders.
O.penVAPE brings massive consumer reach to the partnership with a combination of advertising and social media touching over 2.2 million consumers. The partnership with O.penVAPE is projected to generate over 10,000 additional tourist visits per year.
The alliance with Timeless Herbal Care puts a high priority on driving tourism and creating jobs, both of which are vital to the Jamaican economy. Additionally, a portion of the profits created through sales of medical cannabis will be directed towards non-profits benefitting education and research in Jamaica. According to Chief Business Development Officer, Chris Driessen, “We are thrilled to partner with Timeless Herbal Care to usher in the new era of medical cannabis regulation. We are fully committed to helping the Jamaican people monetize one of their most precious natural resources, ganja.”
Denver-based O.penVAPE is the leader in cannabis extraction technology and is the leading national cannabis brand, currently operating in nine states. O.penVAPE distributes products through a network of affiliates licensed to sell O.penVAPE cannabis oil-filled cartridges, vaporizer devices and related products. O.penVAPE’s scientific approach and committed employees help to ensure product safety and compliance with all rules and regulations in states where cannabis is legal. O.penVAPE supports consumer education regarding the responsible use of cannabis. Visit O.penVAPE’s website for more information.