LONDON, April 14, 2020 /CNW/ - Materia Ventures ("Materia" or the "Company"), a medical cannabis and wellness company focused on the European market, today announced an exclusive license and distribution agreement with Feather Company Ltd. ("Feather") to bring its premium CBD brand Hiatus to the United Kingdom.
"We're delighted to bring Hiatus to the United Kingdom as we curate a portfolio of some of the most respected brands in the industry," said Deepak Anand, CEO of Materia. "Vape pens are the second largest CBD product segment in the UK1 and consumers are placing their trust in companies that do not compromise on safety and quality. We believe Hiatus, Feather's CBD brand, embodies these principles, making it an ideal addition to our portfolio."
Added Nick Pateras, Managing Director, Europe at Materia: "Over a quarter of UK CBD consumers report using vapes as a format, representing a segment worth £80M last year and growing quickly2. In light of the serious health issues reported from some off-label products, consumers need to be vigilant in the products they choose. Hiatus applies best-in-class practices in producing their innovative hardware and Materia's formulations adhere to the highest quality standards for manufacturing and testing - making health and wellness the absolute priority."
Hiatus is a premium brand designed to appeal specifically to sophisticated consumers. The vaporizer pen is constructed of the highest quality materials and offers an iconic but discrete consumption experience. Hiatus will be offered in three varieties, targeting the largest need states of Rest, Focus and Revive. The launch will focus on established online distribution channels, subsequently broadening to brick-and-mortar stores as the UK retail environment permits.
Under the terms of the agreement, Materia will manufacture and attain exclusive rights to market and distribute Hiatus' CBD disposable pen and cartridge and battery pen technology.
"At Feather we believe good design has universal appeal and the opportunity to bring our intuitive product experiences to a broader audience is what drives us," said Patrick Lehoux, CEO of Feather. "Materia shares our passion for quality and customer experience and brings extensive expertise in navigating the competitive and regulatory environment in the UK. We're excited to partner with them to launch Hiatus and bring an elevated CBD consumption experience to all Britons."
About Materia Ventures
Materia Ventures' vision is to be the enabler of global cannabis access. Materia is developing a robust manufacturing and distribution ecosystem to grow the legal cannabis market across the European continent. With its expert, research driven team and state-of-the-art technology, Materia focuses on the high-margin downstream activities of processing, formulation and distribution into markets wherever there is a patient in need of cannabis medicine or CBD consumers seeking innovative new products.
Feather Company Ltd. is a lifestyle design brand. We believe that good design combined with quality cannabis makes for great intuitive experiences. Our mission is simple, we make great products that elevate the everyday, one person and one moment at a time. With offices in Toronto, Sudbury and Ottawa, our multidisciplinary teams include brand, product design, research & development and marketing.
Hiatus is a CBD premium brand with a mission to deliver elevated experiences for the sophisticated and educated consumer class.
All statements, other than statements of historical fact, in this news release are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and legal uncertainties; access to financing; the delay or failure to receive regulatory approvals; and other factors. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Neither Materia Ventures nor Feather assumes any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.