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Fusion and Sire Bioscience Potential Partnership
Sire Bioscience Inc. has entered into a non-binding CBD commercialization and consulting Letter of Intent with Fusion Nutrition Inc. The 20 year old Canadian supplement company has national distribution in some of the top retailers in Canada including Popeye's, GNC, Supplement King and even Sportchek with their Game Changer supplement. The legacy brand is could potentially partner with Sire Bioscience to commercialize branded and private label offerings from Sire’s portfolio of CBD-infused products. They will also be looking at conducting a scientific study and analysis of the CBD/sports nutrition industry to ensure best-in-class deliverable methods! The terms of the agreement are not fully known and there's no guarantee the transaction proposed will be completed. Recently, Canopy Growth acquired Canadian supplement giant Biosteel for an undisclosed amount and we believe many other Cannabis invovled companies are currenty on the hunt to get into the dietary supplement industry.
Ryan Herniman, Fusion President, comments, “Within the sports nutrition space a more obvious synergy has never presented itself. With our combined experience in the world of CPG’s we’ll not only be able to develop world-class offerings but we’ll be able to help a lot of people and that motivates us tremendously. It’s an exciting new time in sports nutrition and we’re thrilled to be working with Sire on this initiative.”
The sports nutrition market is vast and shows no signs of slowing down. According to Allied Market Research, the global sports nutrition market is expected to reach $44 billion by 2021. Meanwhile the hemp-CBD market alone could hit $22 billion by 2022.
Jeff Zanini, Sire CEO, comments, “The union of these two massive industries will create a business-related sonic boom. Sports nutrition combined with CBD is a winning formula. It’s also aligned with everything that Sire is all about – such as having an early-mover advantage to win the CPG race, staying on the fastest track to revenue and profits, and elevating the consciousness of humanity, all while sustainably increasing shareholder value. This is a pure winner and we couldn’t be more excited.”
SOURCE: Cannabis Investing News