One of Colorado’s largest recreational pot companies is planning to bring Willie Nelson’s marijuana brand to Canada, according to sources cited by the Globe and Mail.
These sources, who’ve asked not to be identified because the matter is not yet public, say that the Denver-based LivWell Enlightened Health LLC will be changing its name to LivWell International as it plans a series of deals that include the acquisition of a Calgary-based cannabis firm.
The company is also expected to strike a side-deal giving them perpetual Canadian distribution rights to Willie’s Reserve, the cannabis brand named after and owned by the 85 year-old country singer and avowed cannabis advocate Willie Nelson. The company markets plants, vape pens and edible marijuana products.
After the announcement is made, it is projected that LivWell will have an enterprise value of about CAD$300 million after bringing one of the US most visible marijuana brands to Canada.
But it remains to be seen how this deal might rub up against Canada’s policy against celebrity endorsements, a position former cannabis task-force chair Anne McLellan reasserted at the World Cannabis Congress last June when she said “If anybody expects to see Snoop Dogg on the package, welcome to Canada. This is as glamorous as it gets,” referring to plain packaging for the country’s cannabis products.
The announcement is rumored to be taking place in Toronto and could happen as early as this afternoon.