OSL Holdings Inc (OTCMKTS:OSLH) has made a breakthrough in the cannabis industry, by reaching a license agreement with Cheryl Shuman. The new joint venture would serve as an addition to the company’s hydroponics and indoor gardening system. Additionally, the company announced the addition of ILED grow lights to its hydroponics portfolio.
The addition of Cheryl to the team has its advantages for OSL. The agreement between the two also includes a licensing deal with Beverley Hills Cannabis Club. The club is a brand name in the luxury cannabis industry and also a crowd funding solution. OSL CEO, Bob Rothenberg, expressed excitement at the partnership with Cheryl. He outlined her importance to the company as a leading figure in the legal cannabis market.
Cheryl also complimented the company, by labeling them as the “dream team” of industry professionals. The deal has already started to pay-off for the company, since Cheryl announced the partnership on social media, to a large number of followers. This drove the company stock up greatly. Cheryl also expressed her belief that OSL was the right company to bring all her ideas to life.
ILED had launched its grow lights fixture in 2014, with a focus on cost-effectiveness. The lights provide the option of changing wavelengths for optimizing indoor plant growth. The company has also been focused on providing customized solutions to different businesses, as per their facility’s requirements. OSL sees the potential in these lights and has reached an agreement with Independence LED to conduct a pilot programming, extending for 90-days.
Go Green Hydroponics, OSL’s subsidiary, will be the first one to make use of this innovative technology. The company would be one step ahead of its competitors with this move. Additionally, the agreement also allows for scaling and private labeling of the final products.
OSL Holdings Inc (OTCMKTS:OSLH) closed at $0.0117, after gaining 0.86% on May 13. The company has 641.94 million shares being traded in the market, with a 52-week range of $0.00-$0.07.