Canada-based Acreage Holdings Inc. said its Universal Hemp LLC unit entered a strategic partnership with U.S.-based CBD company Medterra CBD’s Five Farms subsidiary. Acreage said it will license its The Botanist brand to Five Farms, which will manufacture, market and sell CBD products in the U.S. through Medterra’s e-commerce platform. The Botanist-branded CBD is expected to be available in the U.S. in the second half of 2021. Acreage, a penny stock traded on OTC Markets in the U.S., said the “asset-lite” arrangement gives it a potential low-risk, high-margin revenue stream. Medterra is based in Irvine, California.
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