Arcadia Biosciences Inc (NASDAQ:RKDA) (FRA:17DN) has signed a distribution agreement with Canadian hemp seed company Tritium 3H Inc (T3H) to distribute its GoodHemp seed varieties and genetics in the country.
T3H, based in Lethbridge, Alberta, specializes in hemp field testing, certified seed production, commercialization and distribution of industrial hemp varieties for the Canadian market. The firm will distribute the GoodHemp products once Arcadia earns certification from the Association of Official Seed Certifying Agencies (AOSCA) and Health Canada, which the company expects to receive in December and February, respectively.
"This agreement solidifies our plans to accelerate the commercialization of Arcadia's hemp genetics internationally and affirms market demand for our portfolio of superior GoodHemp varieties,” Arcadia CEO Matt Plavan said in a statement. “We're proud to partner with a well-respected distributor like Tritium 3H to bring our CBD dominant, short-day varieties to Canada's industrial hemp growers."
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The initial varieties distributed include:
- Umpqua, a CBD dominant, early photoperiod variety for both the smokable and CBD extraction markets with a unique terpene profile;
- Rogue, a CBD dominant, high yielding intermediate photoperiod variety for the CBD extraction markets that provides exceptional yields under low planting densities; and
- Santiam, a CBD dominant, early photoperiod variety with exceptional utility in northern latitudes for both the smokable and CBD extraction markets that delivers step-change yield potential.
"Our GoodHemp varieties were field-tested extensively in regional and national trials by the T3H and Arcadia teams,” Plavan said. “Working closely with T3H, we expect AOSCA certification in mid-December, Health Canada certification in February and significant commercial sales in the spring prior to the planting season."
T3H CEO Jayme Hunter likes what he’s seen of Arcadia from field trials thus far.
"We're pleased to add Arcadia's high CBD, early maturing varieties to our portfolio,” Hunter said. “They've performed extremely well in our field trials allowing us to offer field-proven, feminized, and compliant hemp genetics appropriate for all of Canada's unique climatic regions. Arcadia's genetics will provide market-leading value to Canadian industrial hemp growers."
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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