Praetorian Global LLC, the parent company of the award-winning Binske cannabis brand and the Alchemist CBD brand, announces entry into international markets through a partnership with Aurora Cannabis Inc. of Canada.
Aurora Cannabis Inc. (TSX:ACB) (NYSE:ACB) will license Binske intellectual property (IP) from Praetorian as part of its first foray into the Canadian edibles marketplace. Binske joins other notable brands as Aurora continues its Canadian expansion of product lines. According to Deloitte, Canada’s edibles market will be worth CA$1.7B by 2020, with research showing 93% of Canadians who favor legalization are open to trying edibles.
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).
Binske products will now be available in over 1,000 retail stores to 82 million people (age 21-61) in 12 different states and all the Canadian provinces, reaching 52% of the U.S. population and 100% of the Canadian population with access to legalized marijuana. Since the company’s founding in 2015, Praetorian Global and its luxury cannabis brand Binske have been aggressively expanding through a series of IP deals. Notable partnerships include Trulieve Cannabis Corp., MariMed Inc., FlowKana, and Aurora Cannabis Inc.
“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,” stated Jacob Pasternack, the founder, chairman, and CEO of Praetorian Global LLC.
“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,” continued Pasternack.
“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,” said Pasternack.
“Canada, only the second country to pass federal legalization, is one of the largest international movers. On the financial side, they have access to the public markets that U.S. companies don’t have. We have had our eyes on our neighbor north of the border, and partnering with Aurora Cannabis, is an ideal start to our international expansion,” said Binske Executive Vice President Alex Pasternack.
“The demand for edibles in North America is on an upward trajectory and we know the Canadian market will appreciate the quality, including the finest ingredients, of Binske edibles,” said Ryan Hunter, Chief Marketing Officer for Binske.
About Praetorian Global:
Founded by Chairman and CEO Jacob Pasternack in 2015, Denver-based Praetorian Global holds interests in THC- and CBD-related brands throughout the U.S. Privately held Praetorian Global is the parent company for Binske (the “e” is silent as in “smoke”). Operating in 12 U.S. states and Canada, Binske is the most widely distributed cannabis brand in North America. Binske is known for its best-in-class proprietary strains and craft ingredients, which have earned it multiple awards, including Leafly’s Best Edibles, Best Concentrates, and Best Overall Company. Binske is a registered trademark of Praetorian Global.
Copyright Business Wire 2019
Published at Thu, 24 Oct 2019 12:33:11 +0000