MIAMI, Feb. 13, 2020 (GLOBE NEWSWIRE) — Bhang Inc. (“Bhang” or the “Company“) (CSE: BHNG) (OTCQX: BHNGF), a global cannabis CPG brand company with an extensive, award-winning portfolio of products, announced today that its cannabis-infused milk and dark chocolates are now available for sale in Canada through its joint venture with Indiva Limited (TSXV:NDVA) (OTCQX:NDVAF). Bhang’s chocolate can be purchased in Ontario, Alberta and Saskatchewan and will soon be available in Manitoba and Nova Scotia.
As previously announced in April 2018, Indiva and Bhang have a 50/50 joint venture to produce and distribute Bhang Chocolate. Through the joint venture, Indiva creates Bhang Chocolate in its state-of-the-art facility based in London, Ontario. Each chocolate contains 10 mg of tetrahydrocannabinol (THC) and comes from sustainably sourced cacao. Chocolates are scored into four pieces, so they are perfect for sharing. Looking ahead, Bhang and Indiva intend to bring cannabidiol (CBD) chocolates to Canadian consumers later in the year.
“We’re fortunate to have established partners like Indiva to help us provide Canadian consumers with the highest quality of edibles available in the recently launched Cannabis 2.0 market,” said Bhang President & CEO Jamie Pearson. “Deloitte analysts estimate that the Canadian market for edibles, extracts and topicals could be worth C$2.7 billion annually, with cannabis edibles accounting for C$1.6 billion alone. We see significant opportunity in the Canadian market and are proud to bring our exceptional chocolate to our friends up north.”
In addition to its Canada joint-venture, Bhang’s multi-state cannabis platform includes licensees in Florida, Nevada, Michigan, New Mexico, Illinois and Ohio. The Company’s hemp-derived CBD products are available throughout the U.S. in brick & mortar stores and online as well as in Puerto Rico, Germany, Austria, Switzerland, Poland, and the U.K.
In the decade since Bhang was founded, the company has received dozens of top honors for its edible cannabis and cannabidiol-based products. Most recently, Bhang won the Best Cannabis-Infused Chocolate Award at WeedCon West 2019 as well as Best Cannabis Chocolate in New Mexico from Dank Magazine. Other top edible honors included numerous High Times Cannabis Cup Best of Awards, and acknowledgments from a diverse range of competitions such as the Medical Cup, Chalice Cup, Patients Choice and the 805 Cannabud Cup, among many others.
Bhang’s brand portfolio of 100+ cannabis, hemp-derived CBD and non-cannabis products includes an assortment of chocolate, tinctures, pre-roll straights, gum, capsules, gummies as well as range of organic beverages and powders spanning the lifestyle segment through its wholly owned subsidiary Red Ace Organics.
About Bhang
Bhang is committed to delivering exceptional sensory experiences to consumers at every point in their cannabis journey through its award-winning portfolio of brands. Bhang is a trusted global cannabis company with an extensive portfolio of over 100 cannabis, hemp-derived CBD and terpene products, including chocolates, pre-rolls, gums, and beverages through its wholly-owned Red Ace Organics division, among others. Since 2010, Bhang has mastered the art of harnessing mutually-beneficial partnerships to bring safe, consistent and delicious products to the world. Learn more at www.bhangnation.com and purchase our award-winning CBD products at http://www.bhangcbd.com/.
About Indiva
Indiva sets the standard for quality and innovation. Indiva aims to bring its exceptional portfolio of products to Canadians and cannabis enthusiasts around the world as laws permit. Based in London, Ontario, Indiva creates premium pre-rolls, capsules and edible products. In Canada, Indiva produces and distributes the award-winning Bhang® Chocolate, Ruby® Cannabis Sugar, Sapphire™ Cannabis Salt, Gems™, and other Powered by INDIVA™ products through license agreements and joint ventures. Click here to connect with Indiva on social media and here to find more information on the Company and its products. Click here to connect with Indiva on social media and here to find more information on the Company and its products.
FORWARD-LOOKING STATEMENTS
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; and 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 filed 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.
This press release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. 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 the securities laws of any state of the United States and may not be offered or sold within the United States or to any “U.S. Person” (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.
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