New Leaf USA, Inc. wholly-owned subsidiary of New Leaf Ventures Inc. (OTCPK:NLVVF) (CSE:NLV), has signed a letter of intent to obtain exclusive licensing rights within Washington State with JBS Ventures LLC, developers of "Stash House Distribution," an Oklahoma based cannabis distribution company.
The agreement encompasses exclusive rights to source, manufacture, distribute, and market select brands and products that JBS Ventures has rights to, it will allow New Leaf USA to bring these new national brands into Washington State.
Stash House Distributions' main goal is to streamline the distribution process of supplying legal cannabis. With a history and knowledge of the logistics of the distribution industry gained from operating Oklahoma's largest distribution companies, they seek to bring this expertise to Washington State. Stash House founders and its software platform come from the liquor and beverage industry.
Robert (Dax) Colwell, CEO, New Leaf USA & director, New Leaf Ventures Inc. stated, "Exclusive distribution rights for these select nationally recognized brands in our region is truly momentous for us and adds star power to New Leaf's House of Brands concept. The founders of Stash House have a long-standing history of successful distribution with their proprietary methods. We look forward to introducing new national brands to consumers in Washington as quickly as possible. With Stash House's vast experience in distribution and their proprietary distribution software platform we will be able to bring a new level of service and a large house of brands to the Washington market. Furthermore, the partnership has great upside to the potential future of national distribution as we get closer to nationwide legalization."