Cannabis Strategic Ventures (NUGS) announced that it has acquired the hemp-based brand Fitamins CBD. Under the agreement, Fitamins will distribute hemp-derived CBD products and vitamins through their network of more than 600 wholesalers, which cater to the Asian American market. Fitamins will produce a proprietary CBD product for Cannabis Strategic and initially distribute it throughout the United States. Eventually, the company will move towards targeting international Asian markets where hemp-based CBD products are legal.
“We have selected Fitamins because of its substantial distribution network and because of the import/export and marketing channels that Fitamins already possesses, giving it a distinct advantage once the brand comes online this next quarter,” commented Simon Yu, CEO of Cannabis Strategic.