HYTN enters manufacturing agreement with Tricanna Industries

VANCOUVER — HYTN Innovations Inc. announces that its wholly owned subsidiary, HYTN Cannabis Inc., has entered into a manufacturing agreement with Tricanna Industries Inc., a supplier of pre-rolled cannabis products. The Agreement leverages HYTN’s sales license, operational and quality management systems and vendor relationships, opening new sales channels for Tricanna’s cannabis pre-rolls to provincial and territorial distributors and creating incremental revenue for the Company.

Elliot McKerr, HYTN Chief Executive Officer, states “Along with producing consistent, natural and delicious cannabis products for the Canadian market, the automated quality and operating systems in our world class facility provide opportunities to capture significant business to business revenue by simply leveraging the efficiencies they bring. This agreement aligns us with a great pre-roll partner and we are excited to work with Tricanna to deliver pre-rolls to the Canadian market.”

The Company notes that it has achieved vendor qualification in all major Canadian markets for Tricanna’s products. Jason Broome, HYTN Chief Operating Officer, commented “The fractured nature of selling cannabis in Canada lends itself to these types of partnerships, as it is challenging, costly and extremely time intensive to obtain pan-Canadian vendor qualification status. We are excited to facilitate and enhance market access for local cultivators and processors such as Tricanna.”

Pursuant to the agreement, all revenue from orders of pre-rolled cannabis products will flow through HYTN, with the Company retaining a percentage of the net sales price. The Company notes that it has also received its first order for an infused cannabis extract pre-roll from the Ontario Cannabis Store, which it anticipates filling in October of this year.