cannabis edibles – MJ Shareholders https://mjshareholders.com The Ultimate Marijuana Business Directory Wed, 15 Jun 2022 14:38:16 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.5 Sipp Industries Fulfills Order for Newly Released Delta-8 Sauces, Tea, Fruit Punch and Medicinal Pain Lotion https://mjshareholders.com/sipp-industries-fulfills-order-for-newly-released-delta-8-sauces-tea-fruit-punch-and-medicinal-pain-lotion/ Wed, 15 Jun 2022 14:38:16 +0000 https://www.cannabisfn.com/?p=2951020

Ryan Allway

June 15th, 2022

News, Top News


Products now on the shelves at retail locations with additional orders planned

COSTA MESA, CA, June 15, 2022 (GLOBE NEWSWIRE) — Sipp Industries, Inc. (OTC Pink: SIPC), a multifaceted corporation specializing in manufacturing, and distribution of commercial and consumer products in the cannabis industry, announces it has fulfilled orders for its full suite of products with new distribution partner, Nectar Ventures.  The Company also announces it has developed and manufactured a new line of Delta-8 (“D8”) infused sauces under the “Sauz” brand.

The Company recently completed its first production run of Major Hemp D8 Sweet Lemon Tea and Fruit Punch which will be placed in retail coolers throughout the south-central states with national distribution plans underway at additional distributors.

Sipp Industries also reports it officially fulfilled its first orders for the newly developed THC-infused pain lotion under the Aveina brand.  With Aveina being the first THC product launch it will exclusively be sold in dispensaries throughout the state of Oklahoma.

In April, Sipp Industries began the development and manufacturing process for its new line of Sauz D8 infused sauces.  Inspired from an inquiry with a large prospect, Sipp Industries developed a variety of D8 nano-infused sauce flavors including BBQ, Chipotle, Siracha, Buffalo and Steak.  These new 10oz sauces pack a powerful punch with 1,000mg of nano emulsified D8 providing an uplifting and euphoric eating experience with your favorite foods.

Sipp Industries is planning sampling events at BBQ competitions/cook-offs and other “canna-competitions” for edibles and beverages throughout the summer.  The Company is also pursuing brand ambassadors to penetrate the cannabis-infused cuisine market which has become extremely popular for celebrity chefs on Netflix shows such as Bong Appetite and Cooking on High.

Interim Chief Executive Officer, Jakob Jorgensen, stated, “This is a significant milestone for Sipp Industries as we launch our new lines of Delta-8 beverages, sauces, and pain creams.  We’re beyond pleased with the product quality and efficacy of our nano D8 and our customers will truly feel the difference.  With the manufacturing operations in place, our focus will continue to be on marketing events, order fulfillment and new distributor acquisition.”

About Sipp Industries, Inc.:

Sipp Industries is a multifaceted corporation specializing in manufacturing and distribution of commercial and consumer products in the cannabis industry.

Website: http://www.sippindustries.com
Facebook: https://www.facebook.com/SippIndustries
Twitter: @SippIndustries

Forward-Looking Statements:

This release contains forward-looking statements within the meaning of Section 27a of the Securities Act of 1933, as amended and section 21e of the Securities and Exchange Act of 1934, as amended. Those statements include the intent, belief or current expectations of the Company and its management team.

Forward-looking statements are projections of events, revenues, income, future economics, research, development, reformulation, product performance or management’s plans and objectives for future operations. Some or all of the events or results anticipated by these forward-looking statements may not occur. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many that are not in management’s control.

Contact:

Sipp Industries, Inc.
Investor Relations
[email protected]
949.220.0435

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.


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INDIVA Reports Record Fourth Quarter And Fiscal Year 2021 Results https://mjshareholders.com/indiva-reports-record-fourth-quarter-and-fiscal-year-2021-results/ Tue, 26 Apr 2022 15:42:43 +0000 https://www.cannabisfn.com/?p=2945738

Ryan Allway

April 26th, 2022

News, Top News


Indiva Remains the National Market Share Leader in the Edibles Category

LONDON, ONApril 26, 2022 /PRNewswire/ – Indiva Limited (the “Company” or “Indiva“) (TSXV: NDVA) (OTCQX: NDVAF), the leading Canadian producer of cannabis edibles and other cannabis products, is pleased to announce its financial and operating results for the fourth quarter and fiscal year ended December 31, 2021. All figures are reported in Canadian dollars ($), unless otherwise indicated. Indiva’s financial statements are prepared in accordance with International Financial Reporting Standards (“IFRS“). For a more comprehensive overview of the corporate and financial highlights presented in this news release, please refer to Indiva’s Management’s Discussion and Analysis of Financial Condition and Results of Operations for the Year Ended December 31, 2021, and the Company’s Consolidated Financial Statements for the Years Ended December 31, 2021 and 2020, which are filed on SEDAR and available on the Company’s website, www.indiva.com.

Indiva Limited Logo (CNW Group/Indiva Limited)
Indiva Limited Logo (CNW Group/Indiva Limited)

“We are pleased to report record revenue in the fourth quarter and for the fiscal year 2021, and greatly improved gross margins compared to fiscal 2020. According to data from Hifyre Inc., Indiva continued as the dominant national market share leader in edibles in 2021,and was ranked 10th out of 134 licensed producers by consolidated market share across all categories. On a units shipped basis, Indiva ranked 4th nationally in 2021, making Indiva an important supplier to provincial wholesalers and retailers. Our distribution has now expanded to reach all 13 provinces and territories in Canada, creating a leverageable platform for new product introduction through new licensing partnerships and in-house innovation,” said Niel Marotta, President and Chief Executive Officer of Indiva. “The recent signing of our licensing deal with Dime Industries marks Indiva’s first entrance into the vape category. Dime’s proprietary hardware and innovative cannabis formulations position Indiva to continue to gain market share as we leverage our best-in-class operations, our reputation for quality cannabis products, and our coast-to-coast-to-coast distribution platform. In addition, we expect new product introductions coming from Indiva’s in-house innovation team to spur further margin-accretive top-line growth and accelerate our path to real profitability. Further, the pursuit of innovation comes with it the goal of creating products that build on our in-house world-class expertise, as national leaders in edibles, to enable Indiva to, one day, grow beyond our Canadian borders. While in the short-term, licensing deals remain our core revenue contributor, creating the backdrop for our current success, Indiva’s future lies in innovating better products, while continuing to delight our clients and customers.”

HIGHLIGHTS

Quarterly Performance

  • Record gross revenue in Q4 2021 at $10.39 million, representing a 25.1% sequential increase from Q3 2021, and a 35.3% increase year-over-year from Q4 2020.
  • Record net revenue in Q4 2021 was $9.45 million, representing a 18.4% sequential increase from Q3 2021, and a 34.1% increase year-over-year from Q4 2020, driven primarily by higher sales of category leading edibles including Wana Sour Gummies and Bhang Chocolate.
  • Net revenue from edible products grew to $8.23 million, up 18.9% from $6.92 million in Q3 2021 and up 39.0% from $5.92 million in the prior year period. Edible product sales represent 87.0% of net revenue in Q4 2021.
  • Gross profit before fair value adjustments, impairments and one-time items improved to a record $3.0 million, or 31.7% of net revenue, versus 37.8% in Q3 2021 and 10.6% in Q4 2020. The decline in gross margin percentage sequentially was due to lower overhead absorption on goods sold in the quarter, rework and relabel costs on certain final goods, and a shift in product mix in the fourth quarter towards edible products with higher average cannabinoid content per unit. The Company expects margins to improve gradually throughout 2022 as new automation for production and packaging comes online in the second half of the year.
  • In Q4 2021, Indiva sold products containing a record 60.4 million milligrams of distillate, the active ingredient in edible products, which represents a 43% increase when compared to the 42 million milligrams in product sold in Q3 2021, and a 76% increase compared to 34 million milligrams sold in Q4 2020.
  • Impairment charges in the quarter totaled $1.02 million. This impairment includes a write off of aged finished goods and bulk cannabis products due to aging inventory and obsolete packaging, as well as a write down to net realizable value of high cost cannabis flower and slower moving oil-based products. The Company will continue to work to monetize any impaired inventory which remains saleable.
  • Operating expenses in the quarter increased to 43.0% of net revenue, versus 39.2% in Q3 2021 and 35.6% in Q4 2020, due to higher marketing costs and sales commissions, and higher research and development costs, while general and administrative costs remained flat.
  • Adjusted EBITDA declined sequentially in Q4 2021 to a loss of $0.49 million, versus a profit of $0.17 million in Q3 2021, due to specific, non-recurring research and development costs and packaging rework costs, without which Adjusted EBITDA would have been positive in the quarter. Q4 2021 improved versus a loss of $1.24 million in Q4 2020, driven by higher sales and improved margins. See “Non-IFRS Measures“, below.
  • Comprehensive net loss included one-time expenses and non-cash charges including inventory impairments and losses on settlements and modification of debt totaling $1.83 million. Excluding these charges, comprehensive loss declined to $2.33 million versus a loss of $2.43 million in Q4 2020.

Fiscal Year 2021 Performance

  • Record gross revenue for the year ended December 31, 2021 was $35.43 million, versus $16.19 million for the year ended December 2020, representing a 118.9% year-over-year increase.
  • Record net revenue for the year ended 2021 was $32.47 million, versus $14.65 million for the year ended December 2020, representing a 121.6% year-over-year increase. Net revenue growth was driven primarily by higher sales of category leading edibles, including Wana Sour Gummies and Bhang Chocolate.
  • Net revenue from edible products grew to $29.1 million in the year ended December 2021, representing 89.6% of net revenue for the year ended December 2021, versus $11.2 million or 76.4% of net revenue in the prior year period.
  • Gross margin before fair value adjustments and impairments improved to a record $9.95 million or 30.6% of net revenue versus $1.54 million or 10.5% of net revenue for the year ended 2020, due to lower distillate costs, increased operating efficiency and improved fixed cost.
  • In 2021, Indiva sold products containing 184.5 million milligrams of distillate, the active ingredient in edible products, which represents a 210% increase when compared to the 59 million milligrams in product sold in 2020.
  • Operating expenses increased by 54.8% versus the year ended 2020, primarily due to higher marketing and sales expenses. General and administrative costs increased 8.5% for the year versus 2020. As a percentage of net revenue, operating expenses declined to 38.2% for 2021 versus 54.6% in 2020.
  • Adjusted EBITDA improved to a loss of $0.29 million versus a loss of $4.49 million last year due to higher sales and improved gross margins, offset by non-recurring research and development costs and packaging rework costs in the fourth quarter.
  • Impairment and one-time charges for the year totaled $9.57 million. This write-off includes a provision for aged finished goods and bulk cannabis products due to aging inventory, provisions for onerous contract, and losses on contract settlement related to the termination of the Dycar manufacturing agreement.
  • Comprehensive net loss, excluding one-time expenses and non-cash charges, declined to $5.43 million in fiscal year 2021, versus a loss of $8.62 million in fiscal year 2020.

Operational Highlights for the Fiscal Year 2021

First Quarter Fiscal 2021

  • Indiva closed a $22 million debt and equity placement with Sundial Growers Inc. on February 23, 2021.
  • Indiva announced an extension to its license agreement with Wana Brands Inc. The amended agreement will be for a five year term and may be extended for three additional five year terms.
  • Indiva expanded its distribution to nine provinces and two territories, adding a supply agreement with the Province of Newfoundland, and a distribution platform in the Northwest Territories.
  • Indiva products became available for purchase through Medical Cannabis by Shoppers™. Indiva also entered into an agreement to supply Abba Medix with Indiva cannabis products.
  • Indiva introduced three additional gummie SKUs nationally under the Wana Quick brand in March 2021, including Pineapple Coconut, Orchard Peach and Strawberry-Lime flavours.
  • Indiva strengthened its board of directors with the addition of Mr. Russell Wilson to the Company’s board. Mr. Wilson is Vice President, Business Development with W. Brett Wilson’s holding company Prairie Merchant Corporation (“PMC“), a private investment company based in Calgary, Alberta. Mr. Wilson manages PMC’s portfolio of cannabis and technology holdings, as well as participation in the company’s extensive and diversified holdings in real estate, power/energy, sports and agriculture.

Second Quarter Fiscal 2021

  • Bhang Milk Chocolate was the highest velocity product in Ontario, according to data from the Ontario Cannabis Store (“OCS“) published for their fiscal year ended March 31, 2021, selling more units than any other SKU. Bhang Dark Chocolate was the 6th highest velocity SKU.
  • Bhang Cookies and Cream and Bhang Caramel Mocha Milk Chocolate became available nationally. Bhang Cookies and Cream quickly became a top seller amongst all Bhang chocolate SKUs.
  • Indiva expanded its distribution of Wana Quick fast-acting gummies to six provinces and one territory. In addition, Wana Quick became available in the medical channel through the Medical Cannabis by Shoppers platform.
  • Indiva made its first deliveries of Bhang Chocolate, Wana Sour Gummies and Artisan Batch flower to the Province of Newfoundland.

Third Quarter Fiscal 2021

  • OCS data for the quarter ended June 30, 2021 showed four of the top 10 cannabis products sold by the OCS were Indiva products, as measured by units sold, including three Wana SKUs and one Bhang Chocolate SKU.
  • Indiva expanded its distribution platform to include Prince Edward Island, bringing distribution to all 10 provinces in Canada and two territories, and in the medical channel through partnerships, including Medical Cannabis by Shoppers.
  • Indiva introduced three new Cookie SKUs from Slow Ride Bakery to the Ontario market, marking Indiva’s first baked goods introduced in the edibles category. Subsequently, Indiva expanded distribution of Slow Ride Cookies to two additional provinces and introduced two new holiday themed SKUs.
  • Indiva introduced a new 10-pack SKU of Wana Strawberry 10:1.
  • Indiva introduced additional premium strains under the Artisan Batch brand, including Sticky Larry by Stinky Greens, and expanded its distribution of the Artisan Batch brand to Alberta.

Fourth Quarter Fiscal 2021

  • Indiva completed its Warrant Incentive Program on October 12, 2021. A total of 8,866,666 warrants were exercised, providing gross proceeds to the Company of $3.55 million. 4,433,333 new warrants were issued, exercisable into common shares at $0.45, for a five-year period.
  • Indiva announced an amended and increased debt facility with Sundial Growers Inc., providing the Company with an additional $8.5 million of debt. Proceeds were used to terminate and repay all remaining obligations under the Dycar manufacturing agreement.
  • Indiva introduced Bhang THC White Candy Cane Chocolate in five provinces.
  • Indiva launched Wana 10-pack Blood Orange 20:1, a new flavour for Wana Gummies in Canada, across six provinces and territories.
  • Indiva delivered its first shipment of INDIVA Capsules to British Columbia.
  • Indiva introduced new, high-potency, craft grown cultivars to the Canadian market, including Golden Pineapple by HWY 8 and Sour Glue by Purplefarm Genetics.
  • Indiva received the award for Edible of the Year, for the second consecutive year, from Kind magazine for Wana Sour Gummies.
  • Indiva signed a licensing and manufacturing agreement with Portland-based edibles manufacturer, Grön.
  • Indiva strengthened its board of directors with the addition of Ms. Rachel Goldman. Ms. Goldman has 20 years of experience in institutional sales, financings and corporate transactions during her career while at several Canadian brokerage firms where she developed an extensive list of investor relationships. In February 2020, she was appointed to the role of Chief Executive Officer and Director of Paramount Gold Nevada Corp. (NYSE American: PZG). Ms. Goldman also serves as an independent director of Red Pine Exploration (TSXV: RPX). Ms. Goldman is a Certified Board Candidate (CDI.D) and holds a Bachelor of Commerce, Major in Finance, from Concordia University. She is fluent in French and English, and resides in Montreal, Quebec.

Events Subsequent to Year End

  • Distribution: Indiva expanded its distribution coast-to-coast-to-coast to all 10 provinces and 3 territories, adding a supply agreement with Nunavut in Q1 2022.
  • Grön Pearls: The OCS accepted four Pearl gummie SKUs listings, with initial deliveries expected in July 2022.
  • Wana: Wana Quick Midnight Berry launched in Ontario, BC and Alberta. Sell-in has been robust, and orders continue to grow for this innovative CBN gummie. Indiva also introduced three additional gummie SKUs nationally under the Wana Quick brand, including Lemon Cream and Island Punch, and Wana Passion Fruit.
  • Jewels Cannabis Tarts: Successfully launched two new SKUs, in Strawberry and Raspberry 1:1 flavours in four provinces and territories, including Ontario, with further deliveries expected in Q2 to additional provinces, including Alberta.
  • Dime Industries (“Dime“): Indiva signed an exclusive licensing and manufacturing agreement with Dime. The agreement has a five year term which automatically renews for three additional five year terms. Indiva intends to launch Dime’s proprietary and innovative vape products, including disposable vapes, 510-thread carts and custom batteries beginning in Q3 2022, marking Indiva’s first entrance into the vape category.
  • Awards: Artisan Batch was awarded Best in Grow from Cannabis NB for best Indica flower, namely Sour Glue, produced by Purplefarm Genetics.
  • Licensing: Indiva was granted a Research Licence from Health Canada, which will allow the Company to conduct sensory evaluation trials on site of medicated samples.

Market Share

  • Sell through data from Hifyre Inc. for the fourth quarter of 2021 shows strong sell-through of Indiva edible products. With 40.2% share of sales, Indiva continues to lead in the #1 market share position in the edibles category:

Outlook

  • The Company expects that Q1 2022 net revenue will be lower sequentially, but significantly higher year-over-year, due to normal seasonal factors affecting edible sales. However, the second half of the year should show robust sequential and year-over-year growth, due to the introduction of several new products and SKUs including, Pearls gummies, Pips candy-coated chocolates, Dime Industries vapes products, as well as new Indiva branded products, resulting from in-house innovation.
  • Margins are expected to benefit in the second half of 2022 due to the implementation of automation in the production and packaging of edible products. The Company has experienced some delays in receiving equipment, in part due to global covid lockdowns, however this is not expected to affect the Company’s ability to deliver on its commitments for existing or new listings of products.
  • Indiva also expects to continue to introduce additional craft cannabis flower SKUs under the Artisan Batch brand, with special focus on high THC potency, robust terpene content, premium buds and fresh harvest dates.

OPERATING AND FINANCIAL RESULTS FOR THE THREE AND TWELVE MONTHS ENDED DECEMBER 31, 2021

(in thousands of $, except gross margin %
and per share figures)
Three months ended

December 31

Twelve months ended

December 31

2021 2020 2021 2020
Gross revenue 10,387.7 7,674.8 35,431.3 16,188.4
Net revenue 9,454.3 7,050.6 32,470.2 14,650.8
Gross margin before fair value adjustments
and impairments
3,001.0 747.4 9,948.5 1,542.8
Gross margin before fair value adjustment
and impairments (%)
31.7% 10.6% 30.6% 10.5%
Loss and comprehensive loss 4,134.2 6,884.0 15,009.2 15,422.6
Adjusted EBITDA1 (493.8) (1,237.8) (291.0) (4,486.5)
Earnings per share – basic and diluted (0.03) (0.06) (0.11) (0.16)
Comprehensive earnings per share – basic
and diluted
(0.03) (0.06) (0.11) (0.16)
1 See “Non-IFRS Measures“, below.

Operating Expenses

(in thousands of $) Three months ended

December 31

Twelve months ended

December 31

2021 2020 2021 2020
General and administrative 1,617.6 1,390.7 6,083.2 5,607.9
Marketing and sales 1,835.1 693.3 4,941.6 1,612.8
Research and development 357.9 8.2 417.0 11.6
Share-based compensation 104.6 71.5 473.8 250.2
Depreciation of property, plant

and equipment

99.7 106.3 277.0 290.4
Amortization of intangible

assets

51.9 51.9 207.9 96.5
Expected credit loss (0.4) 6.1 143.2
Total operating expenses 4,066.4 2,321.8 12,406.6 8,012.7

COVID-19

Government and private entities are still assessing the present and future effects of the COVID-19 pandemic. Indiva has continued to operate with enhanced health and safety protocols in place to protect its employees. The Company continues to assess the customer, supply chain, and staffing implications of COVID-19 and is committed to making continuous adjustments to minimize disruption and impact. Indiva will remain proactive in its response to the pandemic and compliant with any and all provincial and/or federal policy enacted to protect Canadians.

CONFERENCE CALL

The Company will host a telephone conference call to discuss its results on Tuesday, April 26, 2022 at 8:30 a.m. (EST). Interested participants may join by dialing 416-764-8658 or 1-888-886-7786. The conference ID number is 17137881.

A recording of the conference call will be available for replay following the call. To access the recording please dial 416-764-8691 or 1-877-674-6060. The replay ID is 137881#. The recording will remain available until Thursday, May 26th, 2022.

ABOUT INDIVA

Indiva sets the standard for quality and innovation in cannabis. As a Canadian licensed producer, Indiva produces and distributes award-winning cannabis products nationally, including Bhang® Chocolate, Wana™ Sour Gummies, Slow Ride Bakery Cookies, Jewels Chewable Tablets, Ruby® Cannabis Sugar, Grön edibles, Dime IndustriesTM vape products, as well as capsules, pre-rolls and premium flower under the INDIVA and Artisan Batch brands. Click here to connect with Indiva on LinkedInInstagramTwitter and Facebook, and here to find more information on the Company and its products.

DISCLAIMER AND READER ADVISORY

General

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has in any way passed upon the merits of the contents of this news release and neither of the foregoing entities accepts responsibility for the adequacy or accuracy of this news release or has in any way approved or disapproved of the contents of this news release.

Certain statements contained in this news release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the parties’ current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this news release contains forward-looking information relating to, among other things, (i) the Company’s outlook for and expected operating margins and future financial results, (ii) the projected growth of its business and operations (including existing and new segments thereof), and the future business activities of, and developments related to, the Company within such segments after the date of this news release, (iii) additional jurisdictions within which the Company may establish its operations or business footprint, (iv) the Company’s ability to capture and/or maintain its market share in any jurisdiction, and (v) the Company’s ability to deliver on its commitments for existing or new listings of products. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Company, and include, without limitation, assumptions about the Company’s future business objectives, goals, and capabilities, the cannabis market, the regulatory framework applicable to the Company and its operations, and the Company’s financial resources. Although the Company believes that the assumptions underlying, and the expectations reflected in, forward-looking statements in this news release are reasonable, it can give no assurance that such expectations will prove to have been correct. A number of factors could cause actual events, performance or results to differ materially from what is projected in the forward-looking statements. Specifically, readers are cautioned that forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, as applicable, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, including, but not limited to, risks and uncertainties related to: (i) the available funds of the Company and the anticipated use of such funds, (ii) the availability of financing opportunities, (iii) legal and regulatory risks inherent in the cannabis industry, (iv) risks associated with economic conditions, (v) dependence on management, (vi) public opinion and perception of the cannabis industry, (vii) risks related to contracts with third-party service providers, (vii) risks related to the enforceability of contracts, (viii) reliance on the expertise and judgment of senior management of the Company, and ability to retain such senior management, (ix) risks related to proprietary intellectual property and potential infringement by third-parties, * risks relating to the management of growth and/or increasing competition in the industry, (xi) risks associated to cannabis products manufactured for human consumption, including potential product recalls, (xii) risks related to the economy generally, and (xiii) risk of litigation.

The forward-looking information contained in this news release is made as of the date hereof and the Company is not obligated to, and does not undertake to, update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions inherent in forward-looking information, investors should not place undue reliance on forward looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

This news release contains future-oriented financial information and financial outlook information (collectively, “FOFI“) about the Company’s prospective results of operations, which are subject to the same assumptions, risk factors, limitations, and qualifications as set out in the above paragraph. FOFI contained in this news release was approved by management as of the date of this news release and was provided for the purpose of providing further information about the Company’s future business operations. The Company disclaims any intention or obligation to update or revise any FOFI contained in this news release, whether as a result of new information, future events or otherwise, unless required pursuant to applicable law. Readers are cautioned that the FOFI contained in this document should not be used for purposes other than for which it is disclosed herein.

Non-IFRS Measures

This news release makes reference to certain non-IFRS measures. These measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS, and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing further understanding of our results of operations from management’s perspective. Accordingly, these measures should not be considered in isolation nor as a substitute for analysis of our financial information reported under IFRS.

The non-IFRS measure used in this news release includes “Adjusted EBITDA”. The Company calculates Adjusted EBITDA as a sum of net revenue, other income, cost of inventory sold, production salaries and wages, production supplies and expense, general and administrative expense, and sales and marketing expense, as determined by management. Adjusted license fee eliminates 50% of the fee which is equivalent to the Company’s share of the joint venture company to which the license fee is paid. Adjusted EBITDA is provided to assist readers in determining the ability of the Company to generate cash from operations and to cover financial charges. Management believes that Adjusted EBITDA provides useful information to investors as it is an important indicator of an issuer’s ability to generate liquidity through cash flow from operating activities and equity accounted investees. Adjusted EBITDA is also used by investors and analysts for assessing financial performance and for the purpose of valuing an issuer, including calculating financial and leverage ratios. The most directly comparable financial measure that is disclosed in the financial statements of the Company to which the Non-IFRS measure relates is income (loss) from operations.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.


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INDIVA SIGNS EXCLUSIVE LICENSING AND MANUFACTURING AGREEMENT WITH GRÖN https://mjshareholders.com/indiva-signs-exclusive-licensing-and-manufacturing-agreement-with-gron/ Wed, 15 Dec 2021 15:33:14 +0000 https://www.cannabisfn.com/?p=2936320

Ryan Allway

December 15th, 2021


INDIVA TO BRING INNOVATIVE EDIBLES BRAND PORTFOLIO TO CANADA

LONDON, ONDec. 15, 2021 /PRNewswire/ – Indiva Limited (the “Company” or “Indiva“) (TSXV: NDVA) (OTCQX: NDVAF), the leading Canadian producer of cannabis edibles, is pleased to announce that it has entered into a Licensing and Manufacturing Agreement with Oregon-based Grön to bring its innovative and fun edibles brand portfolio to Canada. Following on Indiva’s success producing and distributing the top selling chocolates and gummies in Canada, the launch of Grön products in Canada will expand Indiva’s edible portfolio to include products with thoughtful, unique minor cannabinoid ratio combinations and form factors. The initial term of the agreement is for five years, automatically renewing for three additional five-year terms.

Founded by Christine Smith, the woman-led and owned edible brand Grön (pronounced “grewn“) is based in Portland, Oregon, and is one of Oregon’s leading producers and fastest-growing distributors of cannabis edibles.  Grön’s edibles portfolio includes candy-coated chocolate ‘Pips’, chocolate bars, gelatin gummy ‘Pearls’  and other novel edible products.  Grön currently manufactures and distributes its products across four US states, where legally permissible to do so under applicable state laws, and distributes its CBD-infused products into international markets.

“We are delighted to partner with Grön to bring their innovative, original, high-quality edible products to the Canadian market,” said Niel Marotta, CEO of Indiva. “Indiva remains committed to growing its top-line and market share organically in Canada by bringing products to market that delight our customers, while expanding the selection of legal cannabis edibles in Canada.  This agreement will allow Indiva to do just that, with new products which are unique to the Canadian market and complementary to our existing portfolio of cannabis edibles.”

“We are excited to partner with the Indiva team to bring what we believe are the best tasting edibles in the market today. Their commitment to product consistency and industry support gives us confidence that they will be exceptional stewards of the Grön brand. Grön’s cannabis-infused edibles are the perfect addition to the Canada adult-use cannabis market, bringing the ‘Edibles 2.0’ to the community through our innovative effect-driven cannabinoid ratios, deliciously refreshing gummy and chocolate flavors, all made with high quality ingredients,” said Christine Smith, Founder and CEO of Grön.

Indiva intends to begin production of Grön products in Canada as soon as possible, with initial deliveries to provincial wholesalers targeted for late Q2 2022.

ABOUT GRÖN

Grön is a women-led multi-state producer of the best tasting adult-use cannabis-infused edibles. The passionate team of seasoned executives, chocolatiers, and confectioners come from all over the world to create something beautifully delicious for you. Their ingredients are organic, single-origin, Fair Trade Certified, and locally sourced whenever possible. Product offerings in US markets include cannabis-infused chocolate, Sugar-Coated Pearls, Mega Pearls, Candy-Coated Chocolate Pips, as well as Hemp CBD and adaptogen-infused chocolate, vegan fruit chews, tinctures, and skincare. Since inception, they’ve led the cannabis edibles category in the markets in which they operate with a vast selection of thoughtfully formulated products. Though Grön was founded in 2015 producing artisan cannabis-infused chocolate, product innovation continues to shape  their offerings in markets hungry for something new. Grön cannabis edibles are available in ArizonaNevadaOklahoma, and Oregon, with multiple new markets anticipated to be added in 2022. Connect with Grön on InstagramLinkedInTwitter, or on their website — eatgron.com.

ABOUT INDIVA

Indiva sets the standard for quality and innovation in cannabis. As a Canadian licensed producer, Indiva produces and distributes award-winning cannabis products including Bhang® Chocolate, Wana™ Sour Gummies, Slow Ride Bakery Cookies, Jewels Chewable Tablets, Ruby® Cannabis Sugar, Sapphire™ Cannabis Salt, as well as capsules, pre-rolls and premium flower under the INDIVA and Artisan Batch brands. Click here to connect with Indiva on LinkedIn,InstagramTwitter and Facebook, and here to find more information on the Company and its products.

DISCLAIMER AND READER ADVISORY 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has in any way passed upon the merits of the contents of this press release and neither of the foregoing entities accepts responsibility for the adequacy or accuracy of this release or has in any way approved or disapproved of the contents of this press release.

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the parties’ current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the Company’s future operations, future results, future product offerings and compliance with applicable regulations. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the parties. The material factors and assumptions include the parties being able to maintain the necessary regulatory and other third parties’ approvals and licensing and other risks associated with regulated entities in the cannabis industry, future sales, the demand for the Company’s products and cannabis products generally and the continued operations of the Company in the ordinary course. The forward-looking information contained in this release is made as of the date hereof and the parties are not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities law

SOURCE Indiva Limited

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.


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City View Green Signs Agreement with Leading Edge Licensed Producer for Three Cannabis-Infused Products https://mjshareholders.com/city-view-green-signs-agreement-with-leading-edge-licensed-producer-for-three-cannabis-infused-products/ Mon, 13 Dec 2021 15:52:01 +0000 https://www.cannabisfn.com/?p=2936274

Ryan Allway

December 13th, 2021


Toronto, Ontario–(Newsfile Corp. – December 13, 2021) – City View Green Holdings Inc. (CSE: CVGR) (OTCQB: CVGRF) (“City View” or the “Company“), is pleased to announce that it has signed an agreement with a leading-edge licensed producer of medical cannabis (the “Customer”) for the development and production of three (3) unique product SKUs, creating a new category of edibles. The Customer expects to supply the three distinctive cannabis-infused edibles nationally beginning in March 2022.

City View expects to enter into a manufacturing agreement with the Customer following the successful bench trials for each of the three uniquely flavored cannabis-infused products. Following the successful development, production, and sales of these initial products, both companies see further opportunity for additional manufacturing and collaborations for more flavors and other signature edible product SKUs.

“We are excited to create an exclusive signature product line for this highly reputable Customer,” shared Rob Fia, CEO of City View. “These specially designed products will further elevate City View Green’s cannabis-infused manufacturing and product development capabilities. Our team at City View possesses the skills and experience to create a variety of cannabis-infused signature products that are unique and offer fun edible options to meet all our clients’ and their customers desires, while also providing the highest levels of safety and consistency to adhere to high quality food manufacturing and cannabis regulatory requirements.”

For further information contact:

City View Green Holdings Inc.
Rob Fia, CEO & President
Email: [email protected]

Follow us on Twitter

Neither the Canadian Securities Exchange nor its regulations services accept responsibility for the adequacy or accuracy of this release.

About City View

City View is a leading consumer packaged goods company focused on the development of cannabis-infused edibles. With the receipt of its Cannabis Act processing licence on April 30, 2021, City View will incorporate cannabis-infused food production at its Brantford, Ontario high-capacity facility. In addition, City View owns a 27.5% stake in Budd Hutt Inc. (“Budd Hutt”), a retail-focused cannabis company with access to cannabis cultivation and production licences in Alberta and other retail opportunities across Canada. Through its relationship with Budd Hutt, the Company anticipates securing shelf space, product placement, and distribution opportunities for our white label partner products. For more information visit: www.cityviewgreen.ca.

Disclaimer for Forward-Looking Information

This press release contains forward-looking statements which are not composed of historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. There are a number of important factors that could cause the Company’s actual results to differ materially from those indicated or implied by forward-looking statements and information. When relying on the Company’s forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Important factors that could cause actual results to differ materially from the Company’s expectations include, among others, availability and costs of financing needed in the future, changes in equity markets, delays in the development of projects, and ability to predict or counteract potential impact of COVID-19 coronavirus on factors relevant to the Company’s business. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.


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Indiva Reports Third Quarter Fiscal 2021 Results https://mjshareholders.com/indiva-reports-third-quarter-fiscal-2021-results/ Tue, 16 Nov 2021 22:46:28 +0000 https://www.cannabisfn.com/?p=2935963

Ryan Allway

November 16th, 2021


Achieves Record Gross Margin, Positive Adjusted EBITDA and Continues to Lead the Edibles Category in Canada

LONDON, ONNov. 16, 2021 /CNW/ – Indiva Limited (the “Company” or “Indiva“) (TSXV: NDVA) (OTCQX: NDVAF), the leading Canadian producer of cannabis edibles, is pleased to announce its financial and operating results for the third quarter of fiscal 2021 ended September 30, 2021. All figures are reported in Canadian dollars ($), unless otherwise indicated. Indiva’s financial statements are prepared in accordance with International Financial Reporting Standards (“IFRS“). For a more comprehensive overview of the corporate and financial highlights presented in this press release, please refer to Indiva’s Management’s Discussion and Analysis of Financial Condition and Results of Operations for the Three and Nine Months Ended September 30, 2021, and the Company’s Condensed Consolidated Interim Financial Statements for the Three and Nine Months Ended September 30, 2021 and 2020, which are filed on SEDAR and available on the Company’s website, www.indiva.com.

Indiva Limited (CNW Group/Indiva Limited)
Indiva Limited (CNW Group/Indiva Limited)

“We are delighted to report strong year-over-year net revenue growth, record gross profit margins in the third quarter of 2021, and positive adjusted EBITDA for the second consecutive quarter. Indiva maintained leading market share in the edibles category in the third quarter, driven by new product introductions and organic growth of existing SKUs,” said Niel Marotta, President and Chief Executive Officer of Indiva. “Looking forward to the fourth quarter of 2021, we expect to see sequential net revenue growth based on continued organic growth, the strength of purchase orders booked to date, and expected new SKU and product introductions. We also expect to see continued margin expansion in the fourth quarter of 2021, driven by higher revenues and continued improvement in operating efficiencies. Indiva has grown its national distribution platform to all ten provinces and two territories, and is a trusted partner to all provincial wholesalers. Looking ahead to 2022, Indiva will leverage this distribution platform, and our ability to continue to profitably scale production through our best-in-class operations, to drive continued organic growth.”

HIGHLIGHTS

Quarterly Performance

  • Gross revenue in Q3 2021 was $8.3 million representing a 143% increase year-over-year from Q3 2020, and a 15.9% sequential decrease from Q2 2021. Year-to-date, gross revenue increased 194% year over year to $25.04 million. This represents Indiva’s 7th consecutive quarter of year-over-year net revenue growth.
  • Net revenue in Q3 2021 was $7.72 million representing a 155% increase year-over-year from Q3 2020, and a 15% sequential decrease due to seasonal weakness and against difficult comparisons from Q2 2021, which had the benefit of the introduction and initial sell-in of three Wana Quick SKUs as well as two new Bhang chocolate SKUs. Monthly net revenue has rebounded since the trough in August. Year-to-date, net revenue increased 203% year over year to $23.0 million.
  • Net revenue from edible products grew to $6.92 million, up 226% from $2.12 million in the prior year period and down 18% from $8.43 million in Q2 2021. Edible product sales represent 90% of net revenue in Q3 2021.
  • Gross profit excluding fair value adjustments, impairments and one-time items, improved by 320% year over year to $2.82 million, and adjusted gross margin improved to a record 37.8% of net revenue versus 34% in Q2 2021 and 22.2% in Q3 2020. Gross profit excluding fair value adjustments, impairments and one-time items declined 8.6% sequentially due to lower quarterly revenues, offset by lower distillate costs. Year-to-date, gross profit increased to $7.08 million, or 31.1% of net revenue, versus $1.31 million or 17.3% of net revenue in the corresponding nine month period last year.
  • The Company expects gross margins to continue to improve in the fourth quarter of 2021 and into 2022, due to improved operating efficiencies from increased output, with diminishing benefit from lower distillate costs.
  • In Q3 2021, Indiva sold products containing 42 million milligrams of distillate, the active ingredient in edible products, which represents a 19% decrease when compared to the 52 million milligrams in product sold in Q2 2021, and a 313% increase compared to 10 million milligrams sold in Q3 2020. The average distillate cost was $0.005 per mg in Q3 2021, which is much more in line with current spot prices.
  • Impairment charges in the quarter totaled $0.446 million, including the disposal of aged inventory.
  • Operating expenses in the quarter were flat sequentially at $3.0 million versus Q2 2021 driven by higher marketing costs, offset by lower sales commissions. Operating expenses as a percentage of net revenue increased to 39.2% in Q3 2021 versus 34.1% in Q2 2021, but decreased significantly versus 71.6% in Q3 2020. Year over year, operating expenses increased by 39.4% versus Q3 2020, primarily due to higher marketing and sales commissions driven by higher sales volumes, and higher public company costs. Year-to-date, operating expenses increased by 55.4% to $8.3 million, but declined as a percentage of revenue to 36.2% from 70.5%. The Company expects operating expenses to continue to decline as a percentage of net revenue as the year progresses, and into 2022.
  • Adjusted EBITDA remained positive, declining sequentially in Q3 2021 to $0.17 million versus $0.54 million in Q2 2021, and a loss of $1.1 million in Q3 2020, driven by lower sequential revenue versus Q2 2021, offset by lower distillate costs. Year-to-date, adjusted EBITDA was positive at $0.22 million, versus a loss of $3.25 million in the nine month period last year.
  • The Company recorded a $4.99 million loss on contract settlement due to the termination of the Dycar manufacturing agreement. Going forward, the company expects significantly improved cash flow from operations on a monthly basis, due to the refinancing and elimination of this contract.
  • Comprehensive net loss was $6.43 million for the quarter and included one-time expenses and non-cash charges totaling $5.44 million. Net loss per share was $0.05 versus $0.04 in Q3 2020. Excluding these charges, comprehensive loss in the quarter declined to $0.99 million, or $0.01 per share, versus a loss of $2.13 million in Q3 2020.
  • Cash balance at the end of the quarter, which excludes the debt financing and warrant proceeds received subsequent to quarter-end, was $2.6 million.

Q3 2021 Market Share

  • Sell through data from Hifyre for the third quarter of 2021 continues to show strong sales of Indiva edible products. Retail sales of Indiva products measured by dollars and units continued to grow in the quarter, while market share declined slightly due to sales of products by new category entrants. With 45% share of sales in the third quarter, Indiva continues to hold its lead in the #1 market share position in the edibles category:

Operational Highlights for the Third Quarter Fiscal 2021

  • Recent OCS data showed that for the quarter ended June 30, 2021, four of the top 10 cannabis products sold by the OCS were Indiva products, as measured by units sold, including three Wana SKUs and one Bhang Chocolate SKU.
  • Indiva expanded its distribution platform to include Prince Edward Island. Indiva now sells product in all 10 provinces in Canada, two territories and in the medical channel through partnerships, including Medical Cannabis by Shoppers.
  • Indiva introduced three new Cookie SKUs from Slow Ride Bakery to the Ontario market, marking Indiva’s first baked goods introduced in the edibles category. According to Hifyre data, Indiva held leading market share in the baked goods sub-category for September 2021, despite distribution beginning in August 2021 and being limited only to the province of Ontario. Subsequently, Indiva has expanded distribution of Slow Ride Cookies to two additional provinces, and has introduced two new holiday themed SKUs.
  • Indiva introduced a new 10-pack SKU of Wana Strawberry 10:1.
  • Indiva introduced additional premium strains under the Artisan Batch brand, including Unicorn Sherbert by KRFT, Cereal Milk by KRFT and Sticky Larry by Stinky Greens, and expanded its distribution of the Artisan Batch brand to Alberta.

Events Subsequent to Quarter End

  • Indiva completed its Warrant Incentive Program on October 12, 2021. A total of 8,866,666 warrants were exercised, providing gross proceeds to the Company of $3.55 million. 4,433,333 new warrants were issued, exercisable into common shares at $0.45, for a five-year period.
  • Indiva announced an amended and increased debt facility with Sundial Growers Inc., providing the Company with an additional $8.5 million of debt. Proceeds were used to terminate and repay all remaining obligations under the Dycar manufacturing agreement.
  • Indiva introduced Bhang THC White Candy Cane Chocolate in five provinces, which has experienced strong sell-in.
  • Indiva launched Wana 10-pack Blood Orange 20:1, a new flavour for Wana Gummies in Canada, across six provinces and territories.
  • Indiva fulfilled replenishment orders of bubble hash concentrate into the Province of Quebec, and delivered its first shipment of INDIVA Capsules to British Columbia.
  • Indiva introduced new, high-potency, craft grown cultivars to the Canadian market, including Golden Pineapple by HWY 8 and Sour Glue by Purplefarm Genetics. The Company expects to introduce more exciting and unique cultivars from Canada’s best craft cultivators in the coming months.
  • • Indiva received nominations for five Adcann Awards, including Craft Brand of The Year, LP Brand of the Year, Best Social Media of the Year, Brand Marketer of the Year and Marketing Campaign of the Year.
  • • Pursuant to the press release issued by Canopy Growth (“Canopy”) on October 14th announcing the acquisition of an option to acquire Wana Brands, Indiva wishes to clarify that its exclusive rights to manufacture and distribute Wana Sour Gummies in Canada will remain in place until the earlier of May 2025, or the date upon which Wana terminates its agreement with Indiva following the exercise by Canopy of its option to acquire Wana, following federal legalization of cannabis in the United States. Indiva and Wana may continue their licensing agreement beyond May 2025, if both parties mutually agree. In the event that Canopy exercises its option prior to May 2025 and causes Wana to terminate the current agreement, Indiva would be contractually entitled to receive a termination payment equivalent to four times the most recent three months of gross revenue, net of license payments, from the sale of Wana products in Canada. Indiva remains committed to supporting the growth of the Wana brand in Canada.

Outlook

  • The Company expects sequential and year-over-year net revenue growth, as well as continued margin improvement in the fourth quarter of 2021, as a result of new SKU and product introductions, and improved operating efficiencies.
  • In Q4 2021 and Q1 2022, Indiva will launch several new SKUs including new Wana gummie and Wana Quick SKUs, as well as chewable fruit tablets called “Jewels”. Indiva also expects to continue to introduce additional craft cannabis flower SKUs under the Artisan Batch brand. Artisan Batch brings Canadians the best dry flower from craft growers with special attention paid to high THC potency, robust terpene content, premium large buds and fresh harvest dates.

OPERATING AND FINANCIAL RESULTS FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2021 AND 2020

Three months ended

September 30

Nine months ended

September 30

(in thousands of $, except gross margin %
and per share figures)
2021 2020 2021 2020
Gross revenue 8,303.0 3,422.2 25,043.6 8,513.5
Net revenue 7,717.9 3,027.2 23,015.9 7,600.2
Gross margin before fair value adjustments,
impairments and one-time items
2,819.7 671.9 7,085.3 1,314.0
Gross margin before fair value adjustments,
impairments and one-time items (%)
37.8% 22.2% 31.1% 17.3%
Loss and comprehensive loss (6,430.4) (3,571.8) (10,875.0) (8,538.6)
Adjusted EBITDA[1] 170.8 (1,107.8) 217.8 (3,248.7)
Net loss per share – basic and diluted (0.05) (0.04) (0.08) (0.09)
Comprehensive loss per share – basic and
diluted
(0.05) (0.04) (0.08) (0.09)
Comprehensive loss per share – basic and
diluted, excluding one-time expenses
(0.01) (0.02) (0.02) (0.06)
1 Adjusted EBITDA is a Non-IFRS Measure. The Company calculates Adjusted EBITDA as a sum of net revenue, other income, cost of inventory sold, production salaries and wages, production supplies and expense excluding capitalized amortization and stock-based compensation in cost of sales, general and administrative expense, and sales and marketing expense, as determined by management. Adjusted license fee eliminates 50% of the fee which is equivalent to the Company’s share of the joint venture company to which the license fee is paid. Adjusted EBITDA is provided to assist readers in determining the ability of the Company to generate cash from operations and to cover financial charges.

Operating Expenses

Three months ended

September 30

Nine months ended

September 30

(in thousands of $) 2021 2020 2021 2020
General and administrative 1,647.7 1,551.0 4,448.0 3,912.9
Marketing and sales 1,140.8 409.4 3,106.5 1,038.1
Research and development 18.1 0.5 59.1 3.4
Share-based compensation 95.9 67.1 369.2 178.7
Depreciation of property, plant, and equipment 119.4 95.3 195.0 184.2
Amortization of intangible assets 44.4 155.9 44.6
Total operating expenses 3,022.0 2,167.8 8,333.8 5,361.9

Quarterly Results

(in thousands of $,
except per share
figures)
Q3 2021 Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020
Net revenue 7,717.9 9,076.9 6,221.1 7,050.6 3,027.2 2,559.7 2,013.3
Comprehensive net loss (6,430.4) (1,416.0) (3,028.8) (6,884.0) (3,571.8) (2,528.7) (2,438.1)
Basic and diluted loss per share (0.05) (0.01) (0.03) (0.06) (0.04) (0.03) (0.03)

COVID-19

Government and private entities are still assessing the present and future effects of the COVID-19 pandemic. Indiva has continued to operate with enhanced health and safety protocols in place to protect its employees. The Company continues to assess the customer, supply chain, and staffing implications of COVID-19 and is committed to making continuous adjustments to minimize disruption and impact. Indiva will remain proactive in its response to the pandemic and compliant with any and all provincial and/or federal policy enacted to protect Canadians.

CONFERENCE CALL

The Company will host a conference call to discuss its results on Tuesday, November 16, 2021 at 8:30am EST. Interested participants can join by dialing 416-764-8658 or 1-888-886-7786. The conference ID is 01162714.

A recording of the conference call will be available for replay following the call. To access the recording please dial 416-764-8691 or 1-877-674-6060. The replay ID is 162714#. The recording will remain available until Thursday December 23, 2021.

ABOUT INDIVA

Indiva sets the standard for quality and innovation in cannabis. As a Canadian licensed producer, Indiva produces and distributes award-winning cannabis products nationally, including Bhang® Chocolate, Wana™ Sour Gummies, Slow Ride Bakery Cookies, Jewels Chewable Tablets, Ruby® Cannabis Sugar, Sapphire™ Cannabis Salt, as well as capsules, pre-rolls and premium flower under the INDIVA and Artisan Batch brands. Click here to connect with Indiva on LinkedInInstagramTwitter and Facebook, and here to find more information on the Company and its products.

DISCLAIMER AND READER ADVISORY

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has in any way passed upon the merits of the contents of this press release and neither of the foregoing entities accepts responsibility for the adequacy or accuracy of this release or has in any way approved or disapproved of the contents of this press release.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the parties’ current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the Company’s future operations, future product offerings and compliance with applicable regulations. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the parties. The material factors and assumptions include the parties being able to maintain the necessary regulatory and other third parties’ approvals and licensing and other risks associated with regulated entities in the cannabis industry. The forward-looking information contained in this release is made as of the date hereof and the parties are not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.


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MariMed Expands its Betty’s Eddies™ Chews to Maine, the Fifth State to Carry the Best-Selling Brand https://mjshareholders.com/marimed-expands-its-bettys-eddies-chews-to-maine-the-fifth-state-to-carry-the-best-selling-brand/ Thu, 13 May 2021 15:14:21 +0000 https://www.cannabisfn.com/?p=2920381

Ryan Allway

May 13th, 2021


Company meets high demand for its full-spectrum, vegan edibles with expansion into The Pine Tree State

NORWOOD, Mass.May 13, 2021 /CNW/ – MariMed, Inc. (OTCQX: MRMD) (the “Company” or “MariMed”), a multi-state cannabis operator focused on health and wellness, has announced that its award-winning Betty’s Eddies brand is now available for purchase at licensed retailers in Maine. Betty’s Eddies launches in Maine with a reformulated, softer chew that will be rolled out across additional markets this year.

MariMed’s Betty’s Eddies edibles were one of the first vegan products to be introduced to the cannabis industry and were included in Pioneer Intelligence’s 2020 Top 25 Hottest U.S. Edibles Brands. They are infused with full-spectrum cannabis oil for a complete entourage effect experience and made with organically-grown fruits and vegetables. The Company is expanding access to Betty’s Eddies to meet the increasing consumer demand for all-natural, vegan products.

“Betty’s Eddies is one of the most popular cannabis edible brands in the U.S. and MariMed remains committed to product innovation to meet evolving consumer preferences,” said Bob Fireman, CEO of MariMed. “Today, consumers prefer products thoughtfully made with natural ingredients – ingredients they can pronounce and are familiar with. MariMed is one of the few cannabis companies currently providing products that meet those needs in the form of a delicious, vegan edible. This is another step in our strategy to expand MariMed brands into markets that offer unique opportunities to generate revenues and better serve our customers.”

Between January and October 2020, medical marijuana sales in Maine reached $221.8M, making cannabis Maine’s most valuable crop even before adult-use sales launched on October 9, 2020. The state’s recreational cannabis market sold $1.4M worth of product in the month following legal sales. Adult-use cannabis sales continue to climb in the state, with a total of $2.5M in sales in January 2021, up $500k from the previous month.

In addition to Maine, Betty’s Eddies chews are available for sale at more than 250 licensed medical and adult-use cannabis dispensaries in MarylandMassachusettsNevadaRhode Island, and Puerto Rico.

For information, sales, and availability, please visit Betty’s Eddies at bettyeddies.com. For more information on MariMed, visit marimedinc.com.

About MariMed

MariMed Inc., a multi-state cannabis operator, is dedicated to improving the health and wellness of people through the use of cannabinoids and cannabis products. The Company develops, owns, and manages seed to sale state-licensed cannabis facilities, which are models of excellence in horticultural principles, cannabis cultivation, cannabis-infused products, and dispensary operations. MariMed has an experienced management team that has produced consistent growth and success for the Company and its managed business units, keeping it at the forefront of cannabis science and innovation. Proprietary formulations created by the Company’s technicians are embedded in its industry-leading products and brands, including Betty’s Eddies™, Nature’s Heritage™, Bourne Baking Co., and Kalm Fusion™. For additional information, visit marimedinc.com.

Important Caution Regarding Forward-Looking Statements:

This release contains certain forward-looking statements and information relating to MariMed Inc. that is based on the beliefs of MariMed Inc.’s management, as well as assumptions made by and information currently available to the Company. Such statements reflect the current views of the Company with respect to future events, including estimates and projections about its business based on certain assumptions of its management, including those described in this release. These statements are not guaranteeing of future performance and involve risk and uncertainties that are difficult to predict, including, among other factors, changes in demand for the Company’s services and products, changes in the law and its enforcement, and changes in the economic environment. Additional risk factors are included in the Company’s public filings with the SEC. Should one or more of these underlying assumptions prove incorrect, actual results may vary materially from those described herein as “hoped,” “anticipated,” “believed,” “planned, “estimated,” “preparing,” “potential,” “expected,” “looks” or words of a similar nature. The Company does not intend to update these forward-looking statements. None of the content of any of the websites referred to herein (even if a link is provided for your convenience) is incorporated into this release and the Company assumes no responsibility for any of such content.

All trademarks and service marks are the property of their respective owners.

SOURCE MariMed Inc.

For further information: Company Contact – MRMD, Jon Levine, CFO, MariMed Inc.; Investor Relations: Rob Kelly, Mattio Communications, [email protected]; Media Relations: Mattio Communications, [email protected]

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

Ryan Allway

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.


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INDVR Brands Inc. Signs Letter of Intent with BevCanna to Introduce Honu’s THC Infused Products to Canadian Consumers https://mjshareholders.com/indvr-brands-inc-signs-letter-of-intent-with-bevcanna-to-introduce-honus-thc-infused-products-to-canadian-consumers/ Mon, 12 Apr 2021 15:14:26 +0000 https://www.cannabisfn.com/?p=2917910

Ryan Allway

April 12th, 2021


Calgary, Alberta and Denver, Colorado–(Newsfile Corp. – April 12, 2021) – INDVR Brands Inc. (CSE: IDVR) (the “Company” or “INDVR Brands” or “INDVR”), a premier cannabis brand, consolidator and edibles retailer, proudly announces it has signed a Letter of Intent (“LOI”) with BevCanna Enterprises Inc. (“BevCanna”) to produce and distribute certain HONU THC infused and award-winning edible products to retail locations across Canada. The new partnership marks INDVR’s first introduction to the Canadian cannabis market and its first international expansion.

With the THC infused product segment making up a growing percentage of the cannabis consumed in Canada, now is the ideal time to introduce our HONU brand into an edibles market estimated at approximately $1.6 billion annually,” said Joshua Mann, INDVR’s CEO. “Our dedication to product quality and consistency is our defining factor in producing some of the most trusted products in Washington and Oregon states, and we are excited to start building the same brand-loyal following across Canada.”

Under the terms of the mutually beneficial venture, BevCanna will assist in accessing manufacturing, sales and distribution for certain INDVR and HONU products in Canada, including the new product lines being integrated through the Strainz acquisition.

In addition, INDVR will assist BevCanna with the distribution of certain BevCanna products in the US through INDVR’s established channels. Under the LOI, INDVR will also provide BevCanna with distribution metrics on the various channels available in certain States, dispensaries, and expected sales volumes to help with its product’s overall success in the US.

About INDVR Brands Inc.

INDVR is focused on aggregating and optimizing popular cannabis brands throughout North America. We are committed to the pursuit of becoming a premier, globally recognized “House of Brands,” holding a client portfolio of award-winning products with an extensive market footprint. For consumers, INDVR seeks to become the definitive source for unparalleled product selection, a tireless commitment to quality, exceptional craftsmanship and lifestyle. Whatever the occasion, INDVR’s has an inspired cannabis product tailored to meet every taste. INDVR’s management team brings expertise in operations, cannabis cultivation and mergers and acquisitions to support its U.S. expansion through accretive acquisitions and organic growth.

Additional Information

Additional information regarding INDVR is available under INDVR’s SEDAR profile at www.sedar.com.This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities.

Investor Information
Company Contact:
Scott Koyich,
Investor Relations
[email protected]
Phone: +1 (403) 619-2200

Disclaimer and Forward-Looking Information

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “anticipate”, “could”, “intend”, “expect”, “believe”, “will”, “projected”, “potential”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the parties’ current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, but without limiting the foregoing, this news release contains forward-looking statements pertaining to the following the closing of the Offering, closing of future tranches of the Offering, the use of proceeds of the Offering and the benefit of the Offering to the Company. These statements are only predictions. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company assumes no obligation to update forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

The forward-looking information contained in this release is made as of the date hereof and the parties are not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

To the extent any forward-looking information in this press release constitutes “future-oriented financial information” or “financial outlooks” within the meaning of applicable Canadian securities laws, such information is being provided to demonstrate the anticipated product sales of the Company and the reader is cautioned that this information may not be appropriate for any other purpose and the reader should not place undue reliance on such future-oriented financial information and financial outlooks. Future-oriented financial information and financial outlooks, as with forward-looking information generally, are, without limitation, based on the assumptions and subject to the risks set out above under the heading “Disclaimer and Forward-Looking Information”.

Cannabis is legal in certain States in the United States (“U.S.“), however cannabis remains illegal under U.S. federal laws. INDVR Brands intends to conduct its U.S. cannabis operations in a manner consistent with the applicable State laws and in compliance with regulatory and licensing requirements applicable in the applicable State. However, the readers should be aware that any change in federal guidance on enforcement actions could adversely affect INDVR Brand’s ability to access private and public capital required in order to support continuing operations and its ability to operate in the U.S.

Unlike in Canada which has Federal legislation uniformly governing the cultivation, distribution, sale and possession of cannabis under the Cannabis Act (Federal), readers are cautioned that in the U.S., cannabis is largely regulated at the State level. Notwithstanding the permissive regulatory environment of medical cannabis at the State level, cannabis continues to be categorized as a controlled substance under the Controlled Substances Act in the U.S. and as such, cannabis-related practices or activities, including without limitation, the manufacture, importation, possession, use or distribution of cannabis are illegal under U.S. Federal law. Strict compliance with State laws with respect to cannabis will neither absolve INDVR Brands of liability under the U.S. Federal law, nor will it provide a defense to any Federal proceeding, which may be brought against INDVR Brands. Any such proceedings brought against INDVR Brands may materially adversely affect its operations and financial performance in the U.S. market.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

Ryan Allway

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.


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High Life Farms Launches Nuggies, a New Line of Bite-Sized Pretzel Cores with Infused Outer Shells, Adding to the Company’s Popular Line of Award-Winning Cannabis-Infused Sweets https://mjshareholders.com/high-life-farms-launches-nuggies-a-new-line-of-bite-sized-pretzel-cores-with-infused-outer-shells-adding-to-the-companys-popular-line-of-award-winning-cannabis-infused-sweets/ Thu, 08 Apr 2021 00:53:13 +0000 https://www.cannabisfn.com/?p=2917386

Disclaimer: Matters discussed on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as “expects”, “will”, “anticipates”, and “estimates”; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief “snapshot” of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled “Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity-based compensation in the companies it writes about, or a combination of the two. For full disclosure, please visit: https://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.

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California’s Biggest Cannabis Gummy Player Makes Strategic Distribution Move, Expects Expanded Retail Access for Best-Selling Products https://mjshareholders.com/californias-biggest-cannabis-gummy-player-makes-strategic-distribution-move-expects-expanded-retail-access-for-best-selling-products/ Wed, 18 Dec 2019 13:30:35 +0000 https://www.cannabisfn.com/?p=2746014

Ash Stringer

December 18th, 2019

App, Exclusive, News, Top Story


Marijuana is legal in 33 states in some form and more than a dozen countries, but the one market everyone wants a piece of is California. With 2019 legal cannabis sales around $3.1 billion, it’s the biggest market in the world with plenty of upside to sell to the state’s 40 million citizens and hundreds of millions of visitors every year.

When it comes to THC and CBD gummies, the king of the California market is San Mateo-based Plus Products (CSE: PLUS) (OTCQX: PLPRF). Measured by dollar of retail sales, the hemp and cannabis food company holds the position as the largest brand in California for gummy sales over the last twelve months.

Plus achieved this sales lead while being available in 360 licensed dispensaries in the Golden State, a recent shift in distribution partners put the company in position to quickly grow that number moving forward.

On to Bigger Distributors

In a bid to get its best-selling products “on every shelf at an affordable price,” Plus has replaced its previous distribution partner, Calyx Brands, with the supply chain expert HERBL Distribution Solutions. HERBL distributes cannabis goods to more than 600 licensed retailers in California, giving  PLUS access to open over 240 accounts they were not previously distributing to.

Click here to see the company investor presentation

“[HERBL’s] substantial market reach and world class management team give us confidence that they will help PLUS further solidify our position as the largest cannabis-infused gummies brand in California,” said Plus CEO Jake Heimark in a statement on the new distribution agreement.

Plus’ sales team is working with Calyx and HERBL to ensure a smooth transition of existing customers and inventory into the new arrangement – and potentially some new cost-saving synergies – while moving forward to land new accounts.

Gummies Are Hot

There is no shortage of options for consumers of cannabis ingestibles, but people overwhelmingly turn to gummies. According to the market researchers at BDS Analytics, 17 of the top 20 selling edible products in California, Colorado and Oregon were gummies during the first four months of 2019. During that one-third of the year, gummies sales in those three states totaled $115 million, representing nearly 40 percent of all ingestible dollar sales.

Equally impressive, ingestible sales as a group were up 37 percent during the same period at the start of the year compared to the same span in 2018.

To that point, consumer trends have changed in recent years. Less than five years ago, cannabis-infused chocolate bars were outselling gummies, but now gummies outsell other products, like chocolates, tinctures and beverages, by at least two-fold.

The popularity is owed to several factors, including precise dosing of gummies, wide flavor selection and the discrete nature in which they can be transported and consumed.

Click here to see the company investor presentation

Against this backdrop, it is impressive what Plus is doing. “Plus uplift,” which contains 5mg THC and <0.1mg CBD in each gummy, has held the top spot for gummy sales in California for five straight quarters. It outsells the next best-selling non-PLUS gummy 2:1.

The product lines come in an array of flavors including, sour watermelon, sour blueberry, blackberry/lemon, tangerine, concord grape and cucumber lime, as well as orange, black cherry and classic mints.

Bigger Footprint in Cali and More

While Plus and HERBL collaborate to expand distribution in California, Plus is placing products in other states too. Through a partnership with TapRoot Holdings, a vertically integrated Nevada-licensed producer, Plus products were launched into 30 dispensaries in the Nevada market in October. Some of the first gummies introduced were the uplift and unwind brands.

Click here to see the company investor presentation

Hemp, a non-intoxicating cousin of cannabis, became federally legal at the start of 2019 via the passage of the 2018 U.S. Farm Bill. That opened up opportunities for interstate commerce of products containing hemp-derived CBD where local jurisdictions also allow hemp goods. Plus has jumped on this emerging market, launching a new line of 100% hemp CBD-infused gummies that are now available in 43 states through the company’s ecommerce website.

The hemp-based CBD products launched with the support of  entertainment superstar John Legend and global mattress company Casper Sleep.

Disclaimer

CannabisFN.com is not an independent financial investment advisor or broker-dealer. You should always consult with your own independent legal, tax, and/or investment professionals before making any investment decisions. The information provided on https://www.cannabisfn.com(the ‘Site’) is either original financial news or paid advertisements drafted by our in-house team or provided by an affiliate. CannabisFN.com, a financial news media and marketing firm enters into media buys or service agreements with the companies that are the subject of the articles posted on the Site or other editorials for advertising such companies.  We are not an independent news media provider. We make no warranty or representation about the information including its completeness, accuracy, truthfulness or reliability and we disclaim, expressly and implicitly, all warranties of any kind, including whether the Information is complete, accurate, truthful, or reliable. As such, your use of the information is at your own risk. Nor do we undertake any obligation to update the items posted. CannabisFN.com received compensation for producing and presenting high quality and sophisticated content on CannabisFN.com along with financial and corporate news.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

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Plus Products Advances Strategic Plan with Rebranding, CBD Line Supported by John Legend and Casper Sleep https://mjshareholders.com/plus-products-advances-strategic-plan-with-rebranding-cbd-line-supported-by-john-legend-and-casper-sleep/ Mon, 30 Sep 2019 00:00:11 +0000 https://www.cannabisfn.com/?p=2681403

Tony Deyes

September 29th, 2019

App, Exclusive, Top News


Some cannabis companies choose to employ a shotgun approach to building their brands, launching a wide variety of products in the hopes that some are successful. The team at Plus Products (CSE: PLUS, OTCQB: PLPRF) has taken a more focused approach, guided by an understanding that the most successful companies began by perfecting one thing and creating an iconic product. The company chose to focus on California, the world’s largest single adult use market, with the goal of “Doing Edibles Better” and establishing the state’s premier edibles brand.

Plus started by building an R&D team led by a Michelin Star Sous Chef, as well as a 12,000 sq.ft. food manufacturing facility, to create a gummies offering that at 5mg of THC per piece was approachable to all levels of cannabis consumers.

That laser focus and commitment to quality has certainly paid off, as Plus is now the state’s top-ranked gummies brand, boasting both the top-selling cannabis products and the best-selling CBD-inclusive product in California according to BDS Analytics. Its Uplift Sour Watermelon Sativa and Restore Blackberry & Lemon Indica Gummies remained the #1 and #2 best-selling products, while its pineapple & coconut flavored CBD Relief was the #5 best-selling SKU and the top CBD-only product in the state.

Click here to see the company investor presentation

Having established itself as the premier edibles brand in California, Plus is wasting no time in building on that success and is busy bringing its winning formula to new products, markets, and consumers.

Rebranding Provides Clarity

In July, Plus embarked on an ambitious rebranding process, designed to simplify the decision-making process for consumers, using a mood-based system with three easy to understand banners – Uplift, Balance, and Unwind.

The process was guided by market structure research from Henry J. Rak Associates and designed by the Partners & Spade Agency, which has worked alongside distinctive brands such as Peloton and online eyewear retailer Warby Parker.

The company’s new packaging and product system uses a distinct pastel colour on a white background, and goes beyond the traditional use of Sativa, Hybrid and Indica, to focus on the science behind unique combinations of THC and CBD designed to create the right mix of cannabinoids paired with a targeted flavor profile to give the consumer a desirable experience.

Plus CEO and co-founder Jake Heimark explained, “Cannabis can be confusing. We hope our new system will help reduce some of that confusion. We worked with experienced market researchers to find out why people use cannabis, then translated those findings into an easy-to-use system of cannabis. We are excited to help our customers Uplift their experiences, bring Balance to their everyday, and Unwind without getting unwound. We believe this system will make PLUS even more accessible to new consumers, and we hope our investments in consistency and quality will keep them coming back.”

CBD Line Launched in Partnership with John Legend, Casper Sleep

On September 24, Plus announced the nationwide launch of its 100% hemp-derived CBD line, supported by a brand partnership with American superstar-philanthropist John Legend, who will advocate on behalf of the new product offering.

The CBD line includes three distinct products, labeled in accordance with the new strategy.  Each BALANCE Blueberry gummy is infused with 50mg of CBD, while UPLIFT Grapefruit gummies are infused with 50mg of CBD augmented by vitamin B, and SLEEP Blackberry Tea gummies contain 25mg of CBD as well as melatonin to help consumers power down.

Commenting on the partnership, Legend said, “I have been a believer in the benefits of CBD for some time. I was drawn to the Plus team because they’re an innovative, family-run company, and they use science to deliver a consistent, high-quality product. I appreciate that they’re committed to setting a high standard within an industry that has to date been fairly unregulated.

Click here to see the company investor presentation

Heimark added, “We established our reputation in edibles by offering customers a consistent and precisely-dosed gummy using high-quality extracts. Our CBD line will build off that expertise, and the earned trust we’ve established, while offering a new experience for consumers designed to help them find their just right.”

The SLEEP line is also being supported through a partnership award-winning global sleep company Casper Sleep Inc..

Neil Parikh, co-founder and chief strategy officer at Casper said, “We’re always exploring new ways to improve sleep across the entire sleep arc — from sunset to sunrise. Like PLUS, we believe sleep is a key part of the wellness equation. Partnering with their team of experts to introduce CBD sleep gummies brings a new way to relax and rest to those who need it.”

The CBD line allows Plus an immediate nation-wide expansion, as Heimark noted.

“Giving the world a simple way to achieve balance has always been our mission, and the Plus CBD line allows us to expand from California to nearly all fifty states overnight. We are thrilled that John Legend and Casper have partnered with our team to support this exciting new initiative.”

The line is also supported by a new FAQ “Learning” page (https://plusproducts.com/pages/faq) to address the questions and concerns of consumers new to CBD, and all three products are currently available for purchase through the company’s newly launched e-commerce platform at www.plusproducts.com.

THC Line Further Expanding

Earlier in the week, Plus also debuted a new line of its best-selling gummies at the Hall of Flowers cannabis trade show in Santa Rosa, California, rolling out three new flavors under its new branding system.

Click here to see the company investor presentation

 Balance Cucumber Lime gummies contain 3.5mg THC and 1.5mg CBD each, while Uplift Tangerine gummies are infused with 5mg THC and <0.1mg CBD; and Unwind Concord Grape gummies have 4.5mg THC and 0.5mg CBD per piece.

Heimark concluded, “The demand from many of our retail partners and consumers to launch a second line of our gummies has been significant and we are excited to expand our product portfolio to meet those demands. We have high expectations given the success of our original line of gummies, which include the #1 & #2 best-selling cannabis products in California.”

Plus’ first advertising campaign is currently underway across California, encouraging customers to ‘Find Your Just Right’, and will now include these three new products, which are expected to be available across Plus’ network of over 360 retail and delivery partners.

Further Expansions, New Products Imminent

Plus is currently working on a line of infused chocolates, expected in Q1 2020, and plans to follow up its recent move into Nevada with distribution of its THC and CBD-infused products into the Arizona, Illinois, Massachusetts, Michigan, and New York markets. Plus is also considering an expansion into Canada, which is expected to legalize the sale of derivative products by December, in order to begin the process of taking its brand global.

Click here to see the company investor presentation

Keep watching this page for more information, and visit https://www.plusproducts.com/

Disclaimer

CannabisFN.com is not an independent financial investment advisor or broker-dealer. You should always consult with your own independent legal, tax, and/or investment professionals before making any investment decisions. The information provided on https://www.cannabisfn.com(the ‘Site’) is either original financial news or paid advertisements drafted by our in-house team or provided by an affiliate. CannabisFN.com, a financial news media and marketing firm enters into media buys or service agreements with the companies that are the subject of the articles posted on the Site or other editorials for advertising such companies.  We are not an independent news media provider. We make no warranty or representation about the information including its completeness, accuracy, truthfulness or reliability and we disclaim, expressly and implicitly, all warranties of any kind, including whether the Information is complete, accurate, truthful, or reliable. As such, your use of the information is at your own risk. Nor do we undertake any obligation to update the items posted. CannabisFN.com received compensation for producing and presenting high quality and sophisticated content on CannabisFN.com along with financial and corporate news.

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About Tony Deyes


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