VANCOUVER, Dec. 12, 2019 /CNW/ - Hollister Biosciences Inc. (CSE: HOLL, FRANKFURT: HOB) (the "Company", or "Hollister"), a California based cannabis and hemp branding company with a vision to be the sought-after premium brand portfolio of innovative, high quality Californian-grown cannabis & hemp products and ER71 USA Inc. ("Easyriders") an iconic brand with millions of followers globally, are pleased to announce that they have entered into a letter of intent (the "LOI") to complete a joint venture agreement (the "Joint Venture", or the "Agreement"). Upon completion of the Joint Venture, Hollister and Easyriders will collaborate on the development and marketing of co-branded hemp based everyday premium product lines. Execution of the Agreement is subject to obtaining consumer data and leveraging convenience store relationships to forecast revenue from a co-branded hemp product line.
Hollister is proud to announce its partnership with Easyriders as the brand's official marketing partner. From the birthplace of the American Biker, Hollister is the first licensed and operational cannabis and hemp company in Hollister, California with a mission to embrace the outlaw roots of Hollister, while providing premium-quality hemp products.
Under the terms of the Agreement, Easyriders will contribute artwork, logos and package design for a series of pre-rolled products using hemp. On an ongoing basis, Easyriders will be financially responsible for all design areas as well as packaging designs and be financially responsible for marketing that is a percentage of revenue for the co-branded product line. Hollister will be responsible for all aspects of production and procurement of underlying materials. All production of hemp products will take place under Hollister's supervision and licenses and Hollister will be responsible for all costs associated with production which includes the cost of producing and shipping the products. Easyriders and Hollister will further explore the development and marketing of additional product SKU's for hemp-based edibles, vapes, topicals and beverages. Revenue generated on the co-branded product lines will be shared 50:50 between Easyriders and Hollister.
The partnership between Hollister and Easyriders will be officially announced at the Dream House MJBiz VIP Event in Las Vegas, Nevada. The most-anticipated after-party of the MJBiz Conference presented by Farechild will take place on December 12, 2019, in close proximity to the famous Las Vegas strip. Hollister is the event's premier sponsor, offering VIP's an exclusive on-site adult consumption area in "The Den."
Easyriders shared, "We at Easyriders are excited about the opportunity to explore this new category with a reputable company such as Hollister. Both companies are based in California and both have deep roots in the motorcycle world. It makes sense that we do this together."
In discussing the partnership with Easyriders, CEO of Hollister, Carl Saling shared, "I cannot think of a better partnership. As Hollister, California is the birthplace of the American Biker, I feel we're paying homage to the rebel spirit Hollister embodies with the official Easyriders partnership."
In 1970, Easyriders established itself as a platform for motorcycle enthusiasts to immerse in the rugged, on-the-road lifestyle championed by the counterculture movement and greats including Steve McQueen, Peter Fonda, and Dennis Hopper. Issues of civil rights, the Vietnam War (and ensuing protests), political scandal, and the emerging generation gap fueled our obsession with wind-swept freedom and ingrained Easyriders with its overarching sense of rebellion.
More than a magazine, Easyriders is a lifestyle.
In celebration of our 50th anniversary, we are shifting with the times and expanding the brand to encompass exclusive, major-label product collaborations; insider events and music festivals; and a quarterly coffee table–style book — that's four thick issues per year jam-packed with gorgeous photography and feature stories.
With a nod to our roots in independence, passion, and freedom, and with newfound emphasis on international travel, design, and entertainment, Easyriders has flown full throttle into a new era. Join us as we embark on this next journey.
About Hollister Biosciences Inc.
Hollister Biosciences Inc. is a California based vertically integrated cannabis and hemp company with a vision to be the sought-after premium brand portfolio of innovative, high-quality cannabis and hemp products. Hollister uses a vertically integrated, high margin model, controlling the whole process from manufacture to sales to distribution or seed to shelf. Products from Hollister include HashBone, the brand's premier artisanal hash-infused pre-roll, along with solvent-free bubble hash, pre-packaged flower, pre-rolls, tinctures, vape products, and full-spectrum high CBD pet tinctures. Hollister additionally offers white-labeling manufacturing of various cannabis products.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information: This news release includes certain statements that may be deemed "forward-looking statements". The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "would", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com
SOURCE Hollister Biosciences Inc.
For further information: Company Contact: [email protected], Tel: 604-961-0296