KelSie Biotech finds California distributor for CBD products

BOULDER — KelSie Biotech Inc. has signed a licensing deal to distribute its CBD-based microdose tablets in California.

The Boulder-based CBD company said in a press release that it licensed its SUM Microdose tabs to Verde Natural, a Colorado-based marijuana grower and distributor that was recently licensed to build a manufacturing plant in California. The company expects to start production and start selling to dispensaries in the third quarter of this year.

SUM Microdose tablets are designed to dissolve underneath the tongue to deliver mixed amounts of THC and cannabinoid ingredients. The latest product, announced Tuesday, is designed as a sleep aid.

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KelSie spokesman Steven Addis said the company is also in “active discussions” with distributors in other states where recreational marijuana is legal, and that the company is hoping to close its $5 million series A funding round this fall.

The company last reported raising $2 million out of its $5 million goal last month, according to filings with the U.S. Securities and Exchange Commission.