First global LOI for THC-infused gummy manufacturer Dynaleo
by CM Staff
The company will make and distribute cannabis-infused vegan gummies under the Pantry brand within the Canadian market
EDMONTON —Dynaleo, a manufacturer of cannabis-infused gummies, has signed a letter of intent with its first international partner.
The Edmonton-based company, part of Canopy Rivers, is partnering with Pantry, a cannabis-infused food brand based in Los Angeles.
“Pantry’s focus on quality products made with natural ingredients fits perfectly with our own commitment to manufacturing gummies that are of the highest quality,” said Michael Krestell, executive chairman of Dynaleo.
Pantry was created by a group of award-winning chefs and offers a variety of cannabis-infused food products. This is the brand’s first foray into Canada.
Dynaleo will manufacture and distribute cannabis-infused vegan gummies under the Pantry brand within the Canadian market.
Production on the vegan gummies is to begin later this year at Dynaleo’s 27,000 square-foot facility in Edmonton, the first industrial-scale and purpose-built high-volume cannabis edible factory in Canada.
Solid edible products, led by gummies, currently comprise more than 90% of the top-selling infused products. Deloitte estimates Canada’s edibles market is worth $1.6 billion annually, while Arcview Market Research and BDS Analytics predict that the North American edibles market will be worth more than $4.1 billion by 2022.