Chemistree’s key asset is the Sugarleaf brand, a Washington state-based product line of high-quality flower. Purchased in December 2018, for US$1.3 million, the company increased cultivation by 200% and retail distribution by 400% to hit revenue targets of around US$1.2 million in 2019.
It also owns prospective cannabis cultivation lands in California and recently closed the acquisition of Applied Cannabis Sciences, giving Chemistree a foothold in New Jersey.
The team leading the Canadian company has decades of experience in the cannabis sector and capital markets. CEO Karl Kottmeier has directly raised over US$150 million for global development projects and chief cannabis officer Sheldon Aberman has managed and designed hundreds of cannabis grows around the globe.
Aberman was also involved in building several multimillion-dollar cannabis brands such as Black Label and Frost Box.
Chemistree is shoring up its assets in the US at a time when the cannabis sector is at a tipping point, with the majority of the country’s population in favour of federal legalization.