DionyMed Brands Ends Cannabis Delivery Relationship with Eaze Due to Regulatory Compliance Concerns

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Hometown Heart Terminates Relationship With Eaze

TORONTO, March 29, 2019 /CNW/ – DionyMed Brands Inc. (“DionyMed” or “Company”) (CSE: DYME), a multi-state cannabis brands platform, announces that Hometown Heart, a licensed California delivery service managed by DionyMed, has terminated its relationship with customer acquisition provider Eaze Technologies, Inc., formerly Eaze Solutions, Inc. (“Eaze”). Following a review of certain of Eaze’s business practices, the Company was unable to confirm that Eaze’s credit card payment processing methodology met regulatory compliance requirements.

Hometown Heart’s termination of the Eaze relationship may have an impact on Hometown Heart’s revenue in the short term, as Hometown Heart was receiving approximately $2.9 million of revenue per month having a contribution margin of approximately 8% from orders placed through the Eaze app. The Company is actively working on several strategies to replace this revenue.

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About DionyMed

Founded in 2017, DionyMed is a multi-state cannabis brands platform, supporting cultivators, manufacturers and award-winning brands in the medical and adult-use cannabis markets. DionyMed sells branded products in every category from flower to vape cartridges, concentrates and edibles. DionyMed serves cannabis consumers through retail dispensary distribution and direct-to-consumer fulfillment with its growing portfolio of award-winning brands. Learn more at dionymed.com and follow @DYME_Inc on Twitter and LinkedIn.

Original press release

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Published by NCV Newswire
NCV Newswire
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