Praetorian Global, the parent company of the cannabis brand Binske, announced the signing of a licensing deal with Chesaning-based cannabis producer Six Labs to bring the full lineup of luxury products to the state.
Michigan’s recreational cannabis market is on pace to surpass $1 billion in sales in the next year, and $3 billion by 2024. The agreement has an estimated retail value of more than $55 million, and the first rollout of products is set for this August, with the entire suite available by the end of the year.
“As new markets emerge, we feel it is our duty and responsibility to define the cannabis experience for first time consumers with our sophisticated brand and best-in-class product offering,” says Jacob Pasternack, founder, chairman, and CEO of Praetorian Global.
“We have put significant time and resources into developing a nucleus of consumer patronage through North America and will now strategically take that same level of dedication towards consumer experience to the Michigan market. The Great Lakes State is in for a real treat.”
The brand is centered around the product categories of flower, capes, extracts, and edibles. Joe Ori, co-founder and general counsel at Six Labs, says the company is focused on developing the purest and highest quality cannabis products.
“We know that Binske holds itself to an equally high standard,” he says. “This is the largest partnership of its kind for Six Labs, as we continue our mission to build an expansive portfolio of products tailored for every lifestyle.”
For more information on Binske products and available markets, visit www.binske.com.