M2bio Sciences Inc (OTCMKTS:WUHN) selected Zootly to sell its Medspresso products across South Africa.
Cape Town-based Zootly engages in the distribution of high-quality cannabis smoking and growing equipment on a wholesale and retail basis throughout South Africa.
Alliance with Zootly commenced when the team of M2bio met its owners Chris Landman and Derek Hewlett. CEO of M2bio, Jeff Robinson said he is pleased with the work done by Chris and Derek at Zootly and their commitment to expanding its operations.
The founder of Zootly, Derek said Medspresso offers cool and high-quality products that match with the brands sold at its offline and online shops. He further said Medspresso products taste better and look forward to offering that great experience to its customers.
Reports excellent performance
M2bio posted a net income of $409,996 in 2020 compared to nil income in the previous year. Robinson said the company achieved all the set goals despite the COVID-19 pandemic. The company expects to report better than expected results in 2021.
MJ MedTech, a subsidiary of M2bio, engages in the development and commercialization of CBD-based products under the trademark Dr. AnnaRx, a global brand. M2bio took over MJ MedTech in 2019.
Signs an advisory accord with Sheldon Inwentash
M2bio entered an advisory accord with Sheldon Inwentash, which is renowned for its strategies and investment prowess in the capital markets of North America. Sheldon is also well known for improving shareholder value. M2bio can utilize the industry resources and expertise of Sheldon to promote its growth.
Commenting on the alliance, Robinson said he is excited to welcome Sheldon onboard. The company will get access to strategic partners through Sheldon’s vast global network. Sheldon said Robinson put in great efforts to position a talented team to drive growth going forward.
Acquires Tsime
M2bio took over Tsime Pharmaceuticals (Pty) Ltd on January 14, 2021. Following the takeover, Tsime will become an ancillary of MJ MedTech. The license allows Tsime to extract, cultivate, and process medical cannabis and offer this commodity for scientific, medicinal, and other legal purposes. It will cultivate medical-grade cannabis on 3 hectares of the overall area of 23 hectares. The company can report the first harvest in Q4 2021.
