Resolve Digital Health (“Resolve” or the “Company”), a Canada-based developer of cannabis formulations, brands and smart devices, is pleased to announce that it has entered into a strategic partnership with Jamaican Medical Cannabis Corporation Ltd.(JMCC), a Canadian-Jamaican medical cannabis exporter. Under the terms of the agreement, JMCC will supply both the high-quality medicinal cannabis, and processing, packaging and distribution services for Resolve’s ecosystem of smart inhaler pods in its key markets outside of North America. The deal is expected to close by December 31, 2018.
The global medical cannabis market is forecast to reach nearly USD 56 billion by 2024 and, with approximately 35 countries having legalized medical cannabis to date, the opportunities to expand Resolve’s worldwide sales footprint are significant. The Company’s strategic priorities include Germany, Europe’s largest market with a population of more than 82 million; Brazil, the largest Latin American market by population at approximately 208 million; and the Caribbean region, which has a total population of approximately 42.5 million.
“As more countries adopt the use of medical cannabis and as a growing body of research expands the number of conditions for which medical cannabis treatments are indicated, Resolve anticipates steadily increasing growth from international sales,” said Rob Adelson, CEO and founder of Resolve. “In order to address this global opportunity, we are expanding our capacity to produce world-class products to GMP standards and deliver worldwide via sophisticated distribution and logistics. JMCC is a perfect partner to assist us in achieving our expansion goals via this unique outsourcing arrangement.”
The agreement also marks a natural extension of JMCC’s current offering beyond cultivation and extraction, to provide custom processing, packaging and global distribution. The company is actively engaged with customers in Canada, Germany, Australia and other parts of the world.
“Our mission and ambitions have grown quickly from being the best cultivator and quality-focused provider of Jamaica’s unique medical cannabis to the world, to providing a fully integrated product outsourcing solution to visionary companies like Resolve,” said Diane Scott, Chair and CEO of JMCC. “This agreement enables both companies to focus on what each does best: Resolve is perfecting new applications for its remarkable products for patients and JMCC is managing the exacting production and delivery of those products to Resolve’s new markets worldwide. It also reaffirms JMCC’s commitment to job creation and further investment in Jamaica.”