The parent company of the Binske cannabis brand and Alchemist CBD (cannabidiol) brand, Praetorian Global, LLC, has announced in a press release that it has teamed up with a cannabis giant to get going in the Canadian derivates market. Aurora Cannabis (TSE: ACB) has agreed to partner with the company as Colorado-based Praeotorian looks to gain entry into new international markets.
Aurora is now set to license Binske intellectual property (IP), giving Praetorian a step into Canada. According to the press release, “The deal solidifies Praetorian Global as one of North America’s fastest-growing, privately-held cannabis companies and a cannabis intellectual property (IP) leader. The rapid expansion can be attributed to unique and differentiated branding, the vast array of high-quality products in their portfolio, and stringent standard operating procedures (SOPs).”
The partnership will see Binske products in over 1,000 retail shops across Canada, giving its footprint a substantial boost. Jacob Pasternack, the founder, CEO and chairman of the company, adds, “While most of the industry was focusing on building up hard assets [acquiring licenses/real estate, building out production facilities, and retail outlets] we have been solely focusing on developing world-class IP. We’ve invested our time, energy, and resources in a scalable, and most importantly, a repeatable process that empowers our partners to deliver the highest quality cannabis products to every legal cannabis territory.
“Initially, novelty rather than substance drove the marketplace. But, in a few short years, the consumer has become more sophisticated and has expressed an appetite and desire for a consistent and elevated product experience…that experience is what we target and home in on. From Malibu to Martha’s Vineyard to Montreal, consumers know they will get the same Binske product, no matter where they buy it. The ability to consistently recreate that product experience is paramount to building consumer patronage and, most importantly, trust.”