EuroLife Brands Inc (CSE:EURO) (OTCMKTS:EURPF) has signed a letter of intent granting CBD life sciences company Empower Clinics Inc (CSE:CBDT) (OTCMKTS:EPWCF) an exclusive license of its Cannvas.me cloud-based online educational platform.
The LOI grants Empower an exclusive license of the platform for its employees at its network of retailers and corporate clinics in the US and Mexico. The agreement is set to last three years, at a cost of cash and stock totaling $460,000, with the option for a three-year renewal.
"EuroLife's SaaS-based education technology platform will allow Empower Clinics to educate a consumer, retailer, and medical patient on an incredibly efficient basis," Eurolife CEO Shawn Moniz said in a statement. "We look forward to working with Empower and their expanding clinic network in providing unencumbered access to our online technology solution."
EuroLife, a global markets cannabis brand based in Toronto, first launched a consumer education portal for medical and recreational cannabis consumers back in 2018, and earlier this year the company developed a business to business offering for Aphria Inc (TSE:APHA) (NYSE:APHA).
Empower, a hemp-derived CBD wellness brand, produces a proprietary line of CBD products and is currently developing its first extraction facility.
Contact Andrew Kessel at firstname.lastname@example.org
Follow him on Twitter @andrew_kessel