Audacious has entered into a definitive agreement with Golden Triangle Health (GTH) on a partnership that marks the company's first foray into the Asian market.
Ultimately, the partners intend to supply major CPG companies with B2B white label and branded products. In the meantime, the two companies are working towards completing the transaction and setting in motion a broader commercial program to expand throughout Asia and beyond.
"We continue to execute and deliver growth, as will be materially shown by this agreement," said Booth. "Through the distribution channels that GTH and their parent company bring, we anticipate being able to rapidly expand in this very promising market with a broad portfolio of products. The market in Thailand is anticipated to take off in the coming year, while other countries in the region are considering various degrees of legalization as well. Through our early mover advantage and our partner's deep connections, Audacious is positioned very well to pursue rapid expansion in this region with enormous potential."
Tom Kruesopon, a co-founder of GTH, added, "The partnership with Audacious further strengthens our operational capabilities in the cannabis space, adding very valuable equity to our brand positioning. We have many opportunities and are leveraging our network of international distribution contacts to execute rapidly and build the leader in the Asia-Pacific cannabis market."
Audacious has sold a first shipment of CBD hemp seeds to GTH, which helps it expand its product portfolio. The hemp seeds will be cultivated and used for food products as well as CBD isolate extraction.
Max Weinberg, Director of International Regulatory Affairs for Audacious, stated, "We are proud of being the first North American firm to ship seeds for CBD production to Asia, marking a milestone that kicks off our revenue generating initiatives in the region. We anticipate engaging in more such transactions in the near future."
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