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Las Vegas, Nevada--(Newsfile Corp. - December 14, 2021) - Bhang Inc. (CSE: BHNG) (OTCQB: BHNGF) ("Bhang" or the "Company"), a global cannabis CPG brand company with an award-winning portfolio of products, has entered into a strategic partnership with INDVR Brands, Inc. (CSE: IDVR) ("INDVR"), a premier cannabis brand house and infused products producer, to bring Bhang's products to the state of Colorado.
"Bhang was in Colorado for several years until a legislative change forced a pivot," says Jamie L. Pearson, Bhang's President and CEO. "I've explored many opportunities since we left and have patiently waited for the right fit. Experiencing the sophistication and competency Hugh Hempel [INDVR's CEO] and his team bring to operating cannabis manufacturing and distribution made this an easy decision. Our two companies complement each other well and I'm excited to get going."
The new licensing deal is part of Bhang's ongoing expansion plans, providing the company with access to another state and additional revenue generation. "Our strategy continues to be a three-legged stool," Pearson adds. "Number one: Continue to dominate in California and Canada. Two: Expand Bhang's penetration and awareness in other markets. And three: Innovate for more shelf space and market share. This opportunity with INDVR falls under number two, and we are excited to announce more news around ongoing product innovation soon."
"We are thrilled to be working with Jamie and the entire Bhang team," states Hugh Hempel, INDVR's CEO. "Bhang's products are widely recognized as the top cannabis-infused chocolate in the world, including the #1 selling cannabis chocolate edible in Canada. We are excited to be able to offer Bhang to our Colorado-based customers soon, and plan on pursuing other available jurisdictions in the United States."
Bhang recently announced the launch of a new hot chocolate SKU at the Hall of Flowers event in Palm Springs, along with a hard candy SKU coming in the new year.
According to Hempel, INDVR anticipates production of Bhang SKUs to begin in January 2022, and expects to report revenue figures generated from this strategic partnership in its Q2 2022 financials.
Bhang (CSE: BHNG) (OTCQB: BHNGF) is committed to making the fairly enjoyable ridiculously fun. For over a decade Bhang has delivered exceptional sensory experiences to consumers through its extensive portfolio of over 50 master-chef-created cannabis, CBD and terpene products including gourmet chocolates, pre-rolls, CBD isolate, and Hempsticks™. Bhang's highly-awarded chocolates are among the top-selling edibles in 7 U.S. states and Canada. Bhang's CBD products are globally distributed and are known for being safe, efficacious and delicious. Learn more at www.bhangnation.com and purchase our high-quality CBD products at www.bhangcbd.com.
About INDVR Brands Inc.
INDVR is focused on growing its popular hemp and cannabis brands throughout North America. We are committed to the pursuit of becoming a premier, globally recognized "House of Brands," holding a portfolio of award-winning products with an extensive market footprint. For consumers, INDVR seeks to be the recognized source of a broad portfolio of the highest quality hemp and cannabis products suited to meet both health and lifestyle needs. INDVR's management team brings expertise in manufacturing and retail operations, hemp and cannabis R&D, and cannabis cultivation, all working together to support a U.S. expansion plan through organic growth and accretive acquisitions.
This press release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities. Forward-looking information is often identified by the words "may," "would," "could," "should," "will," "intend," "plan," "anticipate," "believe," "estimate," "expect" or similar expressions and include information regarding: (i) statements regarding the future direction of the Company; (ii) the ability of the Company to successfully achieve its business and financial objectives; (iii) plans for expansion of the Company into new jurisdictions; and (iv) expectations for other economic, business, and/or competitive factors. Investors are cautioned that forward-looking information is not based on historical facts but instead reflect the Company's management's expectations, estimates or projections concerning the business of the Company's future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: changes in general economic, business and political conditions, including changes in the financial markets; in particular, in the ability of the Company to raise debt and equity capital in the amounts and at the costs that it expects; adverse changes in the public perception of cannabis; decreases in the prevailing prices for cannabis and hemp products in the markets that the Company operates in; adverse changes in applicable laws or adverse changes in the application or enforcement of current laws; the cannabis market is highly regulated and those regulations and enforcement priorities of governmental authorities may change; compliance with extensive government regulation and related costs; and other risks described in the Company's Listing Statement, dated July 9, 2019, and other filings on www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
Neither CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
J. Graham Simmonds
Executive Chairman of the Board
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