Cannabis Kinetics Corp. (OTC: CANK), a fully integrated cannabis management company, recently announced that it entered into an exclusive distribution agreement with Ivory Coco International LLC to add Coco Coir, an all-natural soil additive used by indoor and outdoor gardening operations, to its repertoire.
“Coco Coir has rapidly gained popularity and established itself among commercial and home marijuana growers as one of the best and most versatile growing mediums available on the market today,” said Cannabis Kinetics Corp. CEO Eric Hagen. “It can be used as a standalone growing medium or when mixed with soil, Coco Coir can reduce the water demands of plants by almost 30% while increasing overall crop yields.”
The exclusive distribution agreement covers all Coco Coir and related products from Ivory Coco International LLC for a five-year term that’s renewable for an additional two five-year terms. Cannabis Kinetics anticipates establishing distribution and sales of Coco Coir products in select markets under its recently established Monarch and Monarch America Inc. global brands.
“This exclusive global distribution agreement immediately positions Cannabis Kinetics with a well-established supply chain and should allow us to expand marketing, awareness, and sales of Coco Coir products across North America and eventually to other international markets,” added Mr. Hagen.
Shares of Cannabis Kinetics Corp. shares jumped nearly 15% in early trading on Wednesday, October 1, 2014 following the news release.
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