C21 Investments Inc (OTCMKTS:CXXIF) announced on June 25 that it formed a new B2B company called C21 Supply Co that will handle the wholesale distribution of cannabis.
The main aim reason that C21 Investments formed the new firm is to handle the wholesale supply of cannabis to other cannabis businesses, thus its B2B approach. The new business will therefore be aimed at expediting the parent companyâ€™s B2B efforts. It will particularly do so through its consumer packaged goods (CPG) brands.
Some of C21â€™s CPG brands include; Firma Farms and Hood Oil which operate in Oregon, Dab Society, and Phantom Farms, among others. The new B2B company will distribute CBD and THC products such as cannabis oil extracts, pre-rolls, and cannabis flower.
â€śC21 Supply Co. is a key part of our vertical integration model that will provide a one-stop shop for dispensaries who want to distribute our highly respected CPG brands,â€ť stated C21 Investments CEO and President Robert Cheney.
The CEO also noted that C21 Supply Co will act as the main and perhaps the only point of contact for the companyâ€™s wholesale partners. It will therefore allow those wholesale partners to access efficient invoicing and order processing, thus making the products more accessible. C21 Supply Co.â€™s goal is to provide a high level of services, quality, and professionalism.
On to some more recent developments, C21 Investments kicked off this week with the announcement that it appointed Sonny Newman as its new CEO and president. Newman will take over the companyâ€™s leadership from Cheney. He is adequately qualified to be at the help of C21 considering that he is already familiar with how to run cannabis operations.
Newman is the founder of Silver State Cultivation and Silver State Relief in Canada. Aside from that, he has also been involved with other companies in various sectors including electronics distribution, manufacturing, investment, and real estate development. So far he has proved to be highly reliable when it comes to financial discipline and strategic investments, and thus why C21â€™s directors have confidence in him.