WOONSOCKET, R.I. & TORONTO–(BUSINESS WIRE)–Abacus Health Products, Inc. (CSE: ABCS, OTCQX:ABAHF) (“Abacus” or the “Company”) today announced that Bed Bath & Beyond is expanding its distribution of CBDMEDIC products from approximately 200 stores to over 1,000 locations nationwide.
Bed Bath & Beyond will be offering 12 unique CBDMEDIC SKUs in its stores covering Pain Relief, First Aid (Eczema and Itch & Rash), Foot & Ankle Pain and Skincare (Acne) categories. In addition to the on-shelf placement the products will also be displayed on off-shelf displays utilizing a specially designed 24-unit point-of-sale display including three top-selling CBDMEDIC SKUs: Arthritis Deep Rub Ointment, Back & Neck Ointment and Muscle & Joint Medicated Pain Relief Spray. The off-shelf displays are being rolled out to 780 stores.
With the addition of these locations the CBDMEDIC line of products will be available in over 7,800 retail locations across the United States.
“The significant expansion by Bed Bath & Beyond into substantially all of their retail locations with 12 unique CBDMEDIC SKUs provides strong validation of the success and leadership position that our CBDMEDIC brand has achieved with consumers and retailers,” said Perry Antelman, CEO of Abacus. “We continue to invest in both the CBDMEDIC brand as well as trade support for our retailer partners and look forward to similar expansion into additional stores by our other existing retail partners over the coming months.”
This news release contains forward-looking statements or information (collectively, “forward-looking statements”) within the meaning of applicable securities legislation, including, without limitation, statements relating to purchase orders, further expansion by existing chains and the execution of the Company’s growth strategy. Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond the Company’s control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements, including assumptions regarding the Company’s ability to efficiently operate its business, market and economic conditions, business prospects or opportunities, future plans and strategies, anticipated events and trends, and regulatory changes that may affect the Company and its customers and industry.
There can be no assurance that actual results will not differ materially from those expressed or implied in forward-looking statements. Undue reliance should not be placed on forward-looking statements. Additional information about these risks, uncertainties and assumptions is contained under “Risk Factors and Uncertainties” in the Company’s annual information form dated April 12, 2019, which is available under the Company’s SEDAR profile at www.sedar.com. Each forward-looking statement speaks only as of the date hereof, and the Company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.
About Abacus Health Products, Inc.
Abacus is a company engaged in the development and commercialization of over-the-counter (OTC) topical medications with active pharmaceutical ingredients. Abacus’ products contain organic and natural ingredients, including hemp extract or oil containing CBD from Cannabis Sativa L. plant. Abacus’ products are aimed at the rapidly growing markets for topical pain relief and therapeutic skincare and are based on proprietary patent-pending formulations to provide safe and effective relief. Abacus currently offers two lines of products: (i) CBD CLINIC™, marketed to the professional practitioner market, and (ii) CBDMEDIC™, marketed to the consumer market. Abacus’ products are offered across the United States and are produced by a contract manufacturer in an FDA registered and audited manufacturing facility.
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