SponsorsOne Inc (OTCMKTS: SPONF) is a company that uses a proprietary platform to combine retail distribution, digital marketing, and wholesale distribution for brands in different industries. The company focuses primarily on Hemp sectors, functional beverages, and alcohol. A few weeks ago, the company had announced the incorporation of a new subsidiary called HS Brands Inc. With this subsidiary, the company has officially launched into pre-rolled smokable Hemp in the U.S. market and abroad.
What’s the deal?
The agreement allowed the company to secure a manufacturing supply and purchase agreement for five years. The company has so far served in the international and domestic tobacco industry for more than 150 years. The first production is expected to be completed in the second quarter of this year. The products manufactured in this duration will begin shipping in Q3-2021. The company is expecting online marketing and web footprints immediately after that. The company already has its niche in the same field. It is the market leader in digital marketing and brand creation.
Delivering high-quality smokable Hemp
The CEO of the company, Myles Bartholomew said that it had secured a producer who offers the highest quality pre-rolled smokable Hemp. With this, the company can deliver consistency, quantity, and quality at a scale in leading brands. Myles Bartholomew further added that there is a need for leading pre-rolled products which have the highest quality. The Hemp market needs such products. For example, a cigarette smoker needs a product for transitioning away from products based on tobacco. This would be the healthier Hemp-based CBD product.
The rising market for smokable Hemp
A recent report in partnership with Neilson Research said that the smokable hemp market was pitched at around $70-$80 million in 2020. By 2025, this market size is expected to expand from $300 million to $400 million.
