Weekend Unlimited’s Alliance With Boggy Boon Accelerates Washington Expansion
February 7th, 2019
Exclusive, News, Top News
As one of the first states to legalise the sale of cannabis for recreational use, Washington’s infrastructure is mature compared to other US markets, with $3.9 billion in total sales. Weekend Unlimited Washington’s Orchard Heights Growers and Boggy Boon are both key players in the Washington market, and their combined resources and facilities are expected to strengthen their position.
Cannabis lifestyle brand Weekend Unlimited (CSE: POT – FSE: 0OS1 – OTCMKTS: WKULF) announced January 22nd it has signed an arms-length letter of intent to provide processing and distribution facilities to Boggy Boon branded cannabis company Seven Hills.
Under the terms of the agreement, Weekend Unlimited Washington will provide Seven Hills with financing over nine months which will be used to upgrade its facilities, with the option to acquire 100% of Seven Hills for USD $1.5 million. Boggy Boon is an established Tier 3 producer/processor, operating in a custom cannabis greenhouse constructed in 2016 to enable premium production.
“Boggy Boon branded cannabis is cultivated in a 28,000 sq. ft. facility located in Wenatchee, Washington where Weekend’s wholly owned subsidiary Orchard Heights Growers is also located. As a result of this arrangement, Boggy Boon will be able to dedicate its operation entirely to cultivation with an anticipated increase in efficiency of 40%, with the current year run rate of $2M growing to $2.8M,” explained Paul Chu, Weekend’s President and CEO.
Weekend’s Wenatchee facility provides synergy and optimization, which should increase the company’s revenue and reduce operating expenses, which in turn will increase profit margins. The strategic partnership will also allow Orchard Heights to diversify the products available to its sales channel, and enable the sale of Weekend Unlimited’s brands to Boggy Boon’s 130 existing retail accounts.
“The Washington market is mature and consumers are becoming more loyal to established brands like Boggy Boon. This is an ideal alliance where each entity was looking to develop the infrastructure that the other already has in place. By forming this alliance both will accelerate their market penetration and fully utilize existing infrastructure to grow,” added Paul Chu.
Within the first week of the alliance being announced, Boggy Boon and Orchard Heights secured orders for delivery. The increased capacity has allowed for accelerated processing and packaging to satisfy the demands of B2B white label accounts, a key target market for Boggy Boon.
“With the alliance with Boggy Boon, the Weekend Unlimited Washington will have entered into strategic partnerships with two independent indoor/outdoor cultivation facilities with synergistic production and logistics capacity in Washington State. Its strategic operating tenants, Orchard Bloom and Boggy Boon will seize upon the immediate increase in capacity and resources as a result of the deal to expand product lines and distribution,” explained Chu.
Boggy Boon projects that it will double its production and increase revenue beyond 2018’s $1,972,562. In the first month of 2019, Boggy Boon is on target to achieve its largest retail sales month on record. Having outgrown its initial facility, Boggy Boon will work with Orchard Heights’ brand processor facility to fill upcoming orders. The deal will allow the two companies to combine infrastructure and add immediate capacity for Boggy Boon.
In collaborating with Orchard Heights, Boggy Boon now has access to its greatest level of national exposure yet, and demand for the brand in Washington is reaching new heights. Renovations on the Orchard Heights facility are underway, and it is anticipated to be fully online by the end of Q1 2019.
Once completed, the Orchard Heights Wenatchee facility will be a nursery, processing and distribution center, with a concentrate lab for manufacturing infused and vape products. The advanced Washington market is expanding into higher margin growth segments, such as infused edibles, concentrates and vaping oils. Weekend Unlimited plans to capitalise on this market growth; its recent acquisition of Verve Beverage gives the company an accelerated model to launch into CBD-infused beverages, which is projected by some analysts to be a $600 million industry by 2022. The market for edibles and other alternatives are predicted to outperform the sales of flower as consumers increasingly look for other ways of ingesting THC and CBD.
Weekend Unlimited aggregates and scales small to medium brands, primarily in the categories of flower, extracts and edibles. The company is a cross border, multi state operator with brands including Canna Candys & Canna Medibles, Verve Beverage Company, Orchard Heights Growers, and has announced its Northern Lights Supply retail operation in Alberta – to serve its brand growth, the company has launched Weekend Unlimited Live in the US, a live-event concept featuring special branded events to raise the profile of its product brands.
For more information, please visit https://www.weekendunlimited.com/
For further information, please contact:
Mr. Paul Chu, President and CEO
Telephone: 1 (236) 317-2812 – Toll free 1(888) 556-YOLO (9656)
E-mail: [email protected]
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