Turning Point Brands Invests $15 Mln In Dosist; To Co-develop New CBD Brand

(RTTNews) - Kentucky-based tobacco company Turning Point Brands Inc. said it has invested $15 million in Los Angeles-based cannabis brand dosist.

Turning Point Brands or TPB has also signed an exclusive co-development and distribution agreement of a new national cannabidiol or CBD brand to be created in partnership with dosist's THC-free business unit.

The partnership will combine TPB's sales and operations infrastructure with dosist's expertise in product innovation, marketing and brand development. The new brand will be exclusively distributed by TPB, which services more than 180,000 points of sale in the U.S.

TPB said it also has an option to invest an additional $15 million in dosist at pre-determined terms within the next twelve months.

TPB's investment will be used by dosist's THC-free and Canadian business units and cannot be for any cannabis or cannabis-related operations in the U.S. unless such operations comply with U.S. laws.

"The cannabis market is exploding and now is the opportune time to invest in the space and significantly expand our addressable market. With its leadership in results-oriented plant-based formulas and dose control technology, global recognition, consumer trust and scalability, dosist was the clear choice to be our new partner in this critical growth market," said Larry Wexler, CEO of Turning Point Brands.

The dosist product portfolio includes its internationally patented dose-control inhalation technology. dosist formulas include its core line featuring balanced ratios of CBD to THC, and its THC-plus line.

All dosist formulas are delivered via its proprietary dose-controlled devices, which include its completely re-engineered inhalable disposable dose pen, the newly launched dose pen rechargeable system, and the dose dial, which dispenses a 3.7 mg sublingual tablet.

In the next three to six months, dosist plans to expand its product portfolio by adding tinctures, gummies, dynamic live resin and full spectrum formulas.

dosist's cannabis products are currently available in more than 700 dispensaries in California, Colorado, Nevada and Canada. The company plans to launch into key new markets in North America in the coming months.

dosist also intends to launch a globally scaled omni-channel platform in November, dosist THC-free. The dosist THC-free products will be available across the U.S. from early November.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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