SAN MATEO, Calif., Dec. 11, 2019 — Plus Products Inc. , a cannabis branded products company in the U.S., today announced the transition of its primary California distribution partner from Calyx Brands Inc. to HERBL Distribution Solutions for the Company’s best-selling cannabis products.
PLUS products are currently available in 360 licensed retailers in California
HERBL distributes to more than 600 licensed retailers in California
PLUS has an internal sales team of fifteen individuals who have been working closely with HERBL and retailers to make the transition a success
“After an extensive review of the major California cannabis distributors, we determined that HERBL was best positioned to scale with PLUS and reliably deliver product to retailers at the lowest cost,” said Jake Heimark, Co-founder & CEO of PLUS. “One of our goals at PLUS is to put our products on every shelf at an affordable price, and we believe HERBL is the perfect partner to help us reach that goal. Their 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.1”
HERBL is a leader in the California market with active distribution to over 600 licensed retailers across the state, 240 more locations than the 360 licensed retailers in which PLUS cannabis-infused edibles are available today.
PLUS has an internal sales team of fifteen individuals working directly with HERBL’s team to ensure a quick and efficient transition for the Company’s current retail partners, and to open new accounts moving forward.
PLUS, as a part of this transition, has entered into a settlement agreement with Calyx dated December 9, 2019, which addresses, among other things, the termination of the distribution arrangement between the two parties. In accordance with the terms of the settlement agreement, the Company has arranged with HERBL to take responsibility for distributing the Company’s branded products inventory currently held by Calyx. Additionally, a qualified third party will assist in the collection of a portion of outstanding accounts receivable associated with the sales of PLUS branded products by Calyx. PLUS has also agreed to forbear any claims against Calyx and its parent company, Nutritional High, through June 5, 2020.
(1) Year-to-Date According to BDS Analytics GreenEdge Platform in 2019
California THC: PLUS cannabis-infused edibles are currently available in 360 licensed retailers across the state of California.
Nevada THC: PLUS cannabis-infused gummies are currently available in 30 Nevada dispensaries, including all three MedMen locations and Planet 13. They are expected to be rolled out to more dispensaries across Nevada in the coming weeks.
National Hemp CBD: PLUS recently launched a line of 100% Hemp CBD-infused gummies. They are available for purchase in 43 states across the country at plusproducts.com.
PLUS is a hemp and cannabis food company focused on using nature to bring balance to consumers’ lives. PLUS’s mission is to make cannabis safe and approachable – that begins with high-quality products that deliver consistent consumer experiences. PLUS is headquartered in San Mateo, CA and has 80 employees.
Founded in 2016, HERBL provides distribution solutions to the cannabis industry with the use of innovative technology, state of the art climate-controlled facilities, high security climate-controlled trucks, and sales/marketing professionals. Currently servicing over 600 dispensaries throughout California, they are supply chain experts, guided by a proven team with extensive experience in world class distribution. The company has multiple licenses and locations across the state of California. To learn more about HERBL, visit www.HERBL.com.
For further information contact:
CEO & Co-founder
Head of Investor Relations
Tel +1 213.282.6987
Third Street Media Group
Tel +1 213.712.8811
The CSE does not accept responsibility for the adequacy or accuracy of this release.
This press release includes statements containing certain “forward-looking information” within the meaning of applicable securities law (each, a “forward-looking statement”). Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur and include, but are not limited to, statements relating to: (i) the transition of the primary California distribution partner to HERBL and whether or not HERBL will: (A) be best positioned to scale with PLUS and reliably deliver product to retailers at the lowest cost, or at all; (B) be able to help PLUS solidify its position as the largest cannabis-infused gummies brand in California; and (C) be able to help PLUS achieve one of its primary goals to be on every shelf available; (ii) the sales and field marketing teams ability, in working directly with licensed retailers, to ensure a successful transition to HERBL as a new distributor, or at all; and (iii) whether or not PLUS cannabis-infused gummies will be rolled out to more dispensaries across Nevada in the coming weeks.
These forward-looking statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this press release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These risks include, but are not limited to, the success of the Company’s investments, the ability to retain key personnel, the ability to continue investing in infrastructure to support growth, the ability to obtain financing on acceptable terms, the continued quality of the Company’s products, customer experience and retention, the continued development of adult-use sales channels, managements estimation of consumer demand in in jurisdictions where the Company exports, expectations of future results and expenses, the availability of additional capital to complete capital projects and facilities improvements, the ability to expand and maintain distribution capabilities, the impact of competition, the ability of the Company to implement initiatives and the possibility for changes in laws, rules, and regulations in the industry. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
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.
加州圣马塞奥.，2019年12月11日——美国大麻品牌产品公司 Plus Products Inc .今天宣布，其主要加州分销合作伙伴从 Calyx Brands Inc .转型为 HERBL Distribution Solutions ，以销售公司最畅销的大麻产品。
PLUS 有一个由15人组成的内部销售团队，他们一直与 HERBL 和零售商密切合作，使过渡成功
PLUS 联合创始人兼首席执行官杰克•海马克( Jake Heimark )表示：“经过对加州主要大麻经销商的广泛审查，我们确定 HERBL 最适合与 PLUS 进行规模扩张，并以最低成本可靠地向零售商交付产品。”“我们在 PLUS 的目标之一是以合理的价格将我们的产品放在每个货架上，我们相信 HERBL 是帮助我们实现这一目标的完美合作伙伴。他们的巨大市场影响力和世界级的管理团队让我们相信，他们将帮助 PLUS 进一步巩固我们作为加利福尼亚州最大的大麻品牌的地位。1”
HERBL 是加州市场的领导者，在全加州有600多家特许零售商，比目前有 PLUS 大麻食品的360家特许零售商多240家。
PLUS 拥有一支由15人组成的内部销售团队，直接与 HERBL 的团队合作，以确保公司当前零售合作伙伴快速高效地过渡，并开设新的客户。
作为这一过渡的一部分， PLUS 与 Calyx 于2019年12月9日签订了一项和解协议，该协议除其他外涉及终止双方之间的分配安排。根据和解协议的条款，本公司已与 HERBL 安排负责分销本公司目前由 Calyx 持有的品牌产品库存。此外，合格的第三方将协助收取与 Calyx 销售 PLUS 品牌产品相关的部分未偿应收账款。PLUS 还同意放弃对 Calyx 及其母公司 Nutritional High 的任何索赔，直至2020年6月5日。
(1)根据 BDS 分析 GreenEdge Platform 于二零一九年的年初至今
加州 THC ：目前，全加州360家特许零售商都有 PLUS 大麻食品。
内华达 THC ：目前在30家内华达药房，包括所有三个 MedMen 场所和 Planet 13，都有 PLUS 大麻注射 gummie 。预计在未来几周内，它们将被推广到内华达州更多的药房。
全国血液 CBD ： PLUS 最近推出了一系列100%的血液 CBD 注入牙龈。他们可以在全国43个州购买长春花。com 。
PLUS 是一家大麻和大麻食品公司，专注于利用自然来平衡消费者的生活。PLUS 的使命是使大麻安全和可接近——从提供一致消费者体验的高质量产品开始。PLUS 总部位于加州圣马特奥，拥有80名员工。
HERBL 成立于2016年，凭借创新的技术、先进的气候控制设施、高安全性的气候控制卡车以及销售/营销专业人员，为大麻行业提供分销解决方案。目前，他们为加州600多家药房提供服务，他们是供应链专家，由一支经验丰富的世界级分销团队指导。该公司在加利福尼亚州拥有多个许可证和地点。欲了解更多有关 HERBL 的信息，请访问 www.HERBL.com 。
对于本版本的充分性或准确性， CSE 不承担责任。
本新闻稿包括适用证券法含义内包含某些“前瞻性信息”的声明（每一项均为“前瞻性声明”）。前瞻性陈述通常以“计划”、“继续”、“预期”、“项目”、“意向”、“相信”、“预期”、“估计”、“可能”、“会”、“潜在”、“建议”等类似词语为特征，或某些事件或条件“可能”或“将”发生并包括但不限于：与以下方面相关的声明：( i )加利福尼亚州主要分销合作伙伴向 HERBL 的过渡，以及 HERBL 是否将：( A )以最低成本或根本上可靠地向零售商提供产品的最佳位置；( B )能够帮助 PLUS 巩固其作为加利福尼亚州最大的大麻注射 gumes 品牌的地位；以及( C )能够帮助 PLUS 实现其在每个货架上的主要目标之一；( ii )销售和现场营销团队与特许零售商直接合作的能力；以确保成功地过渡到 HERBL 作为新的经销商，或在任何情况下；以及( iii )在未来几周内，是否将在内华达州的更多药房推出 PLUS 大麻注射 gummies 。
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