other material
confidence high
sentiment neutral
materiality 0.50
LFTD Partners subsidiary signs exclusive manufacturing deal with large publicly traded marijuana firm
LFTD PARTNERS INC.
- Subsidiary Lifted Made enters exclusive manufacturing/distribution agreement for hemp-derived vape and gummy products.
- Agreement effective Jan 20, 2024; initial term of 18 months, renewable by mutual consent.
- Lifted Made receives 40% royalty on remaining revenue after cost recovery; 50% down payment on purchase orders.
- Management says similar 2023 agreements did not increase Lifted Made revenues by more than 5%.
- No assurance new agreement will have greater impact; counterparty is a large publicly traded marijuana company.