DENVER, June 11, 2019 (GLOBE NEWSWIRE) -- Elixinol, one of the most influential CBD brands in the world with nearly three decades of experience in the hemp industry, today announced an exclusive partnership with RFI via a newly incorporated Colorado-based entity, Infusion Strategies, LLC (Infusion Strategies). The joint venture, owned 60 percent by Elixinol and 40 percent by RFI, is formed for the purpose of cooperatively maximizing the respective companies’ industry positions, intellectual property and operating capabilities to better serve customers and bring an elevated level of transparency and quality control to the industry.
Elixinol will provide hemp expertise, supply chain stability, and the highest quality hemp full-spectrum and THC-free CBD extracts. RFI will manage the day-to-day operations of Infusion Strategies as well as provide global supply chain management and provision of all non-CBD ingredients and manufacturing expertise needed to custom blend formulations for CBD-infused tinctures, powders, capsules, and more. Together, Elixinol and RFI will maintain industry-leading certifications (GMP, NSF, QAI Organic, and SQF2), maintain an AOAC-certified laboratory, and provide seed-to-sale organic ingredient traceability.
“This partnership will allow us to advance the ingredient side of our business, as well as the industry, through partnering with the best of the best,” said Gabriel Ettenson, President and co-founder of Elixinol. “Simultaneously, it will create the opportunity for Elixinol to focus more on strengthening our organic supply chain for hemp and advancing our product innovation and development for our own brand as well. RFI are experts in fermentation, powder manufacturing, and advanced ingredient formulations, which the industry greatly needs. We hope that together we can disrupt the industry by bridging the gap between the hemp-derived CBD world and the nutraceutical world.”
“I am excited to be creating this new partnership with Elixinol,” said Jeff Wuagneux, CEO and President of RFI. “When we combine Elixinol’s experience and vertical integration in the hemp and CBD industry with RFI’s 30 years of experience and vertical integration in the nutritional/dietary supplement and food industries, we’re creating a formidable new business model. The new joint venture brings raw material and formulation expertise that will allow us to lead the way for exciting opportunities for CBD-related products. Our customers are looking to work with us to develop and create new GMP-compliant products while taking advantage of the support we offer as a traditional nutritional and food manufacturer. We're looking forward to providing these breakthrough opportunities for customers through our new partnership."
This announcement is one of many in the past several months demonstrating Elixinol’s aggressive growth strategy within the rapidly expanding hemp-CBD marketplace in the U.S., including EXL’s recent raise of AUD$50 million to increase production capacity and raw material supply to ensure it meets forecasted demand resulting from this kind of ground-breaking relationship. For more information about Elixinol, please visit www.Elixinol.com.
About Elixinol:
Colorado-based Elixinol, co-founded by Paul Benhaim, hemp entrepreneur since 1991, is widely regarded as one of the most influential CBD brands in the world. With a proven track record of growing and extracting premium-quality hemp, Elixinol is one of the few CBD hemp extract brands with complete seed-to-sale control over its products. Elixinol also conducts rigorous third-party laboratory testing and quality control. Elixinol distributes hemp-derived CBD products in 40 countries globally including North and South America, throughout Europe, Asia, and the Pacific Region under its own label as well as bulk CBD and wholesale CBD. Elixinol’s parent company EXL (elixinolglobal.com) is publicly traded on the Australian Securities Exchange and on the U.S. OTC (ASX:EXL, OTCQX: ELLXF). More information available at Elixinol.com.
About RFI:
For 30 years, RFI has been creating and manufacturing innovative best-in-class custom blended turnkey products from natural ingredients for the nutritional, dietary supplement, food, functional food and beverage industries. Quality, timeliness and service have been the hallmarks of its success and continued growth. Whether customers want to take advantage of RFI’s wisdom and experience to develop a new product, improve a current product, or consolidate their sourcing for product development and manufacturing, RFI has the industry-leading solutions.
Media Contact:
Blythe Tokar
MULTIPLY
202-292-4573
elixinol@wearemultip.ly
Chris Husong
Elixinol
+1 844-804-3504 ext 420
chris@elixinol.com
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/e798db74-3dac-4e69-b80d-dc529050ece2
https://www.globenewswire.com/NewsRoom/AttachmentNg/23f637a9-8b84-4d45-a22f-c8408531ee55