Aiming to get its products in front of more doctors, Canbiola, Inc. (OTCPK:CANB) said Tuesday morning that it has partnered with Strategic Medical Resources, LLC. Strategic Medical Resources is run by Michael J. Bakke, Sr., a founder of the behavioral health screening company GreenLight.
Bakke isn't the only leader from GreenLight that works at Strategic Medical Resources, or SMR for short. Bob Nieman, former National Sales Director at GreenLight, and Jim Stoltz, Director of Marketing at GreenLight, are also part of the SMR team.
GreenLight provides more than 1.5 million behavioral health screens annually across the 38 U.S. states it has a footprint. The plan is for the SMR team to introduce Canbiola's eponymous product line to its network. Still in the early stages, Canbiola sells a variety of organic cannabidiol (CBD)-based products, including a pain relief gel, muscle and joint salves and hemp extracts and supplements.
Canbiola CEO Marco Alfonsi is jazzed up about the new pact, judging by him saying, "This by far is the largest distribution agreement the company has entered into to date, and we believe this deal has the potential to add a high multiple on existing revenues and continue to propel the company on its path to becoming a nationally recognizable brand."
Just after Tuesday's opening bell, the investor response to the news has been relatively positive. Shares of CANB are up 13.33%, or two-10ths of a penny, to 1.7 cents.
