PONTIAC Oct. 27, 2018
LiveWell Foods, the company aiming to build a cannabis greenhouse and research centre in Litchfield has inked a cannabidiol (CBD) supply deal with a private equity firm in the United States.
The deal, which was signed on Oct. 27, features a partnership between LiveWell and Vitality CBD Natural Health Products Inc. The two companies signed a deal with Global Wellness Distributors – a private equity firm from Nevada – to provide supply of CBD wholesale products.
Global Wellness will distribute CBD products in exchange for a $3 million deposit to LiveWell for the initial CBD supply.
The terms of the deal stipulate that Global Wellness will distribute at least 1,000 kg of CBD products per month as of January 2019.
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