Turning Point Brands Enters Into Strategic Agreements With Docklight Brands to Support Expansion of Bob Marley Cannabis and CBD Products

Turning Point Brands, Inc. (“TPB” or the “Company”) (NYSE: TPB), a manufacturer, marketer and distributor of branded consumer products, including alternative smoking accessories and consumables with active ingredients, announced today a $8.7 million strategic investment in Docklight Brands, Inc., a pioneering consumer products company with celebrated brands including Marley Natural cannabis and Marley CBD. In addition, TPB has obtained exclusive U.S. distribution rights for Docklight’s Marley CBD topical products. The investment into Docklight Brands’ Series A offering comes with certain follow-on investment rights.

As a result of this transaction, Turning Point Brands now boasts access to two of the most iconic names in cannabis: Bob Marley and Zig-Zag. The Marley CBD skincare line, which includes after-sun, hand cream, lip balm, balm, and roll-on products, combines tropical botanicals with hemp-derived CBD, and is currently available nationally in over 12,000 stores including select 7-Eleven, Circle K, Safeway and Dollar General locations, with additional availability expected through TPB’s partner network.

The Company’s investment into Docklight will also support the growth of the broader Marley CBD line, including Marley Mellow Mood teas, Marley wellness shots, and Marley chocolate squares, as well as Marley Natural THC products, which are produced and sold under license agreements in Canada, Jamaica, and select U.S. states.

“Our goal is to build an expansive portfolio of the most innovative brands in the cannabis industry and to distribute these products across our vast partner network,” said Larry Wexler, CEO, Turning Point Brands. “We reach consumers where they are most comfortable, selling products to distributors, selling to stores directly and interfacing with consumers one-on-one via e-commerce. Adding Marley products to our portfolio alongside our legacy Zig-Zag brand marks yet another milestone as we continue to leverage our brands and expand our distribution infrastructure.”

“Given our shared focus on branded products we are excited to expand the reach of the iconic Bob Marley brand. We are confident our strategic relationship with Turning Point Brands will greatly enhance both the visibility and availability of the Marley products across TPB’s extensive distribution network,” added Damian Marano, CEO, Docklight Brands. “We look forward to working closely with the experienced team at Turning Point Brands to drive and expand the reach of Marley products across North America.”