CannaRoyalty Corp. (CSE: CRZ) (OTCQX: CNNRF), a leading North American cannabis products and brands company, announced today that it has purchased a licensed distribution and manufacturing facility (“Cotati”) in the city of Cotati in Sonoma County, California for US$2.4 million (the “Agreement”). Cotati will serve as an additional hub for distribution, as well as supporting manufacturing infrastructure, to meet the strong demand of CannaRoyalty’s distributed brand portfolio. In addition to the center’s strategic location, proximate to both existing Company assets and major transportation arteries, the Cotati property was an ideal choice because of the low initial local tax rates on distribution (0%) and manufacturing (1%).
Afzal Hasan, President and General Counsel of CannaRoyalty commented, “We continue to execute on our strategy, as reiterated in our recent financing announcement through the development of five facilities across California to capitalize on a historic opportunity to lead the largest and most diverse cannabis market in the world. With five distribution and manufacturing facilities, we have positioned ourselves as the partner of choice for a number of growth-oriented consumer brands that will be launching through our platform in the next several months.”
- Strategically located and licensed 11,441-square-foot property in the city of Cotati in Sonoma County to complement CannaRoyalty’s existing California footprint
- The city of Cotati is one of California’s most attractive cannabis tax rate jurisdictions
- Including Cotati, 5 strategically located distribution and manufacturing facilities state-wide make CannaRoyalty the ideal partner for growing cannabis consumer brands