DENVER, Feb. 18, 2021 /PRNewswire/ — Praetorian Global, the parent company of the award-winning cannabis brand Binske, has signed a historic licensing deal with Canadian licensed cannabis producer CannaPiece.
In a bit of a paradox, 2020 may well go down as the most important year in the history of legal cannabis, which started with most legal U.S. state markets (either medical or recreational) designating cannabis as an “essential” business at the start of the pandemic. From there, the overall marketplace continued to gather additional momentum and go on to set sales records in almost every single legal marketplace.
“The strong market performance taking place during the worst pandemic in modern history signifies a shift in the collective zeitgeist of consumers towards cannabis. Cannabis usage has become more and more socially acceptable which is primarily being driven by legal cannabis becoming increasingly easy to access by a greater percentage of the North American population”, said Praetorian Global’s Founder, Chairman and CEO Jacob Pasternack.
Binske now has access to over 89.4 million consumers in North America, continuing its trajectory as one of the fastest growing and widely distributed cannabis brands in the world. This marks the 16th licensing deal that Praetorian Global is party to and is particularly notable due to the depth of the Binske product suite. While most U.S. brands crossing over into the Canadian market are single product brands, Binske has over 100 SKU’s in its portfolio centered around the primary product categories of flower, vapes, extracts and edibles.
The Canadian cannabis market, fueled by a population of 37 million people, is projected to generate over $7 billion dollars annually by 2026. The landmark agreement between Praetorian and CannaPiece has an estimated retail value of over $50M (CAD). The companies plan to roll out the first tranche of products in Q2 2021 and have the full suite of award-winning products available to Canadian consumers by the summer of 2021.
“Binske focuses on earning and most importantly retaining consumer trust by enhancing the cannabis experience through strict product efficacy, constant innovation and overall product quality. We have put significant time and resources into developing a nucleus of consumer patronage in the U.S. markets and will now strategically take that same level of dedication towards consumer experience to the Canadian market,” continued Jacob Pasternack.
“It has been an exciting journey working with the Binske team to bring and introduce their brand experience to the Canadian market and we are very eager to see their products on the shelves,” said Eric Akbar, President for CannaPiece
“Introduction of established US brands is the natural progression of market maturity in Canada and CannaPiece Corp., as a contract manufacturer, is here to pave the path forward,” he continued.
“CannaPiece has a dynamic and sophisticated executive team, with state-of-the-art facilities, and understands as well as appreciates the attention-to-detail that we have put into crafting Binske. Our ideal licensing partners understand the brand’s ethos, and work diligently with us to bring the full portfolio of products and brand experience to each and every new territory,” says Alex Pasternack, executive vice president at Binske. “Partner-selection is paramount for us, so naturally we feel incredibly excited to have CannaPiece license and produce our suite of products in Canada.”
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”). Because of its distinct intellectual property model and best-in-class product lines, Binske is party to 16 licensing deals in the U.S. states and Canada, making Binske the most widely distributed cannabis brand in North America. Lauded for its proprietary strains, craft ingredients, and best-in-class packaging, Binske products have earned multiple awards, including Leafly’s Best Edibles, Best Concentrates and Best Overall Company. Binske has been covered in publications such as Forbes, Yahoo Finance, Benzinga, Marjiuana Business Magazine, Bloomberg, Ad Weekly, The New Times, and Cheddar TV. Binske is a registered trademark of Praetorian Global.
ABOUT CANNAPIECE CORP.
Headquartered in Pickering, Ontario, CannaPiece Corp. is a wholly-owned subsidiary of CannaPiece Group Inc., a Canadian based, vertically integrated cannabis company. CannaPiece Corp. is a contract manufacturer of cannabis and hemp products and provides the industry with services and products to cover gaps in the supply chain. CannaPiece offers a complete selection of high-quality services ranging from R&D, product development, third-party processing, packaging, large-scale extraction, production of edibles, topicals and concentrates as well as white-labeled products to the Canadian market.
Source: PR Newswire
