Atlas Global Expands Retail in Middle East, Inks International Snoop Dogg Brand Deal

Atlas Global Brands Inc. (CSE: ATL) is rapidly moving to acquire valuable cannabis assets for its recent international venture after snapping up two pharmacies in Israel and inking an exclusive licensing agreement for Snoop Dogg’s brands.

Atlas entered into binding letters of intent to acquire 70% and 51% of the outstanding securities of two pharmacies licensed to dispense medical cannabis in Tel Aviv and Jerusalem, respectively.

The proposal would expand Atlas’ retail presence in Israel, “thereby advancing its vision of becoming a premium supplier of medical cannabis in the Israeli market,” the company said in a statement.

Atlas Global CEO Bernie Yeung said that the mission for the company has always been to improve access by increasing the company’s footprint. “With these acquisitions, we will be one step closer to achieving that goal,” he said.

“Atlas remains committed to ensuring a seamless transition for these pharmacies’ patients and personnel while leveraging our expertise to enhance their offerings and provide an even better customer experience,” said Yeung.

“We believe that these acquisitions will not only benefit our patients and shareholders but will continue to solidify our international cannabis footprint. The company is excited to continue building on our momentum and looks forward to a successful integration process.”

The parties intend to enter into a definitive agreement by March 31, 2023, and could close during the last quarter of the fiscal 2023 transition year.

The company will issue a further press release once the definitive agreement is drawn up, which will disclose the finalized terms of the transaction.

Snoop Doggy Dogg

Atlas also entered into an exclusive international licensing agreement on Feb. 28 with Calvin Broadus Jr. a.k.a “Snoop Dogg”.

The five-year agreement grants Atlas the exclusive right to use Snoop Dogg’s name, likeness, logos, trademarks, or other approved intellectual property to produce, package, manufacture, distribute, sell, advertise, promote, and market cannabis products for medical purposes in Germany, Israel, and Australia and recreational purposes in Canada.

“Snoop Dogg is one of the most iconic figures in cannabis culture and it’s an honor to collaborate with him,” Yeung said in a statement at the time. “Consumers love Snoop, and our collective goal is to deliver premium products in all cannabis categories that will consistently exceed consumer expectations.”

Atlas will selectively source, package, and distribute directly in Canada and through approved distribution partners internationally. All Snoop Dogg branded cannabis products will be launched in legalized cannabis markets.

“I chose Atlas to represent and launch my new brands for their innovation and global reach. I am excited to work with their team to select my favorite strains for my brands and fans,” said Snoop Dogg. “You know they will be amazing because they will be personally approved by me.”