LFTD Partners subsidiary signs exclusive manufacturing deal with Diamond Supply Co.; plans asset purchase

LFTD PARTNERS INC.

Lifted Made to be exclusive worldwide manufacturer of Diamond-branded vapes, gummies, pre-rolls, and hard candies containing CBD, hemp, delta-8/10-THC, cannabis.
Royalty: 20% of Adjusted Gross Revenue on first run; 45% on subsequent runs with 50/50 cost sharing, or flat 7% without cost sharing.
Diamond can buy products for direct sale at 30% below wholesale; term is 3 years, auto-renew if annual royalties >= $1M.
Company intends to purchase most assets of a hemp flower product manufacturer to bring production in-house; closing April 28, 2023.
Partnership with Diamond, a 25-year-old skateboarding/streetwear brand, aims to expand Urb brand into new markets.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 1.0

LFTD PARTNERS INC. entered into Manufacturing Sales and Marketing Agreement with Diamond Supply Co. valued at Royalty: 20% of Adjusted Gross Revenue on first manufacturing run, 45% on subsequent runs, or Diamon (effective 2023-04-21).

Action: entry
Counterparty: Diamond Supply Co.
Value: Royalty: 20% of Adjusted Gross Revenue on first manufacturing run, 45% on subsequent runs, or Diamon
Effective: 2023-04-21

Exact text from the filing

On April 23, 2023, Lifted Liquids, Inc. doing business as Lifted Made (“Lifted Made”), a wholly owned subsidiary of LFTD Partners Inc., entered into a Manufacturing Sales and Marketing Agreement (“Agreement”) with Diamond Supply Co. (“Diamond”) effective as of April 21, 2023.

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LFTD PARTNERS INC. filing history →

Source: SEC EDGAR

accession 0001096906-23-000895

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