Ascent Partners TOKO Oil with Award-Winning PAX Era Vaporizer

Published: November 8, 2018

Ascent Partners TOKO Oil with Award-Winning PAX Era Vaporizer

Ascent Industries Corp. announced that through a wholly owned subsidiary it has entered into a brand partnership agreement with PAX Labs Inc., pairing Ascent’s TOKO brand oil with the award-winning PAX Era premium cannabis vaporizer for distribution in the state of Oregon.

Pursuant to the Agreement, Ascent is licensed to sell and distribute the PAX Era vaporizer platform and compatible pod through all 535 of Oregon’s dispensaries starting November 1st, 2018. Ascent will offer several varieties of TOKO oil, designed for a wide array of uses and giving a broad range of choice to consumers. TOKO oil will be one of only six oil brands available for the PAX Era vaporizers in the state of Oregon.

James Poelzer, Ascent’s Chief Business Development Officer comments, “This agreement with PAX comes at a time when the popularity of vaping is driving product innovation to meet consumer demand for ease of use, portability and improved flavour. PAX’s award winning Era vaporizer product is a premium pen and pod system, and perfectly matches the high quality of TOKO oil. The Oregon distribution agreement pairs the leading vape pen brand in the world and our popular TOKO oil products. The premiere positioning of the PAX Era will help to further entrench TOKO as one of Oregon’s leading cannabis oils.”

Cannabis vaporizers are growing more popular with consumers as they are portable and discreet, emitting less odor than smokable flower. Consumer spending on cannabis concentrates in the United States is projected to reach almost $3 billion in 2018 according to a report by Arcview Market Research in partnership with BDS Analytics. According to Arcview, vaping is the main driver of concentrate sales, and 58 percent of concentrate spending in 2018 will be for prefilled vaporizers. In Colorado the number is as high as 86 percent, while in California 71 percent of all concentrate sales are for vaporizer applications. (Arcview Research and BDS Analytics, June 2018)1

Ascent is committed to building strong brands in the Oregon market and other cannabis legal jurisdictions as part of its global strategy. The Company recently captured two awards in Oregon’s Dope Cup, a premier cannabis competition held annually in the US. Ascent’s Grace Notes brand won the CBD Edible award for its Salty Potato Chip CBD Bar and the Company’s Nu brand won top place for its CBD Alcohol Free Tincture. The awards typically lead to greater brand recognition and product sales. Together with the PAX distribution agreement Ascent is poised to continue to elevate its brands in Oregon.

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