INDVR Brands Inc. Announces Strategic Partnership with Bhang Inc. in Colorado
Calgary, Alberta--(Newsfile Corp. - December 14, 2021) - INDVR Brands, Inc. (CSE: IDVR) (the "Company" or "INDVR Brands" or "INDVR"), a premier cannabis brand house and infused products producer, is pleased to announce a strategic partnership with Bhang Inc., a global cannabis CPG brand company with an award-winning portfolio of products. Management from both companies have collaborated to bring Bhang's products initially to Colorado, then expand discussions around other available jurisdictions in the United States.
INDVR, through its relationship with Bronnor Corp., is one of Colorado's premier Marijuana Infused Products producers, with a state-of-the-art, GMP-compliant, 25,000 square foot facility. Through INDVR's partnership with Bronnor Corp., INDVR is currently manufacturing numerous SKUs across multiple product lines, including gummies, chocolates, vapes, tinctures, and pre-rolls.
Integrating Bhang's well-recognized, industry-leading portfolio of products is a perfect synergy for Bronnor and INDVR. Bhang has delivered delicious, consistently-dosed and highly-awarded products to consumers in multiple U.S. states, Canada, and Europe for over a decade. Bhang's iconic gourmet chocolates continue to be among the top-selling edibles internationally.
"We are thrilled to be working with Jamie and the entire Bhang team. Bhang's products are widely recognized, including the #1 selling cannabis chocolate in Canada," states INDVR CEO, Hugh Hempel.
Bhang CEO, Jamie L. Pearson, states, "Bhang was in Colorado for several years until a legislative change forced a pivot. Since we left, I've explored many opportunities and have patiently waited for the right fit. I am honoured to partner with Hugh and the INDVR team to bring Bhang products back to Colorado. Experiencing the sophistication and competency they bring to operating cannabis manufacturing and distribution made this an easy decision. Our two companies and teams complement each other well, and I'm excited to get going."
Management anticipates production of Bhang SKUs to initiate in January and expects to report revenue figures generated from this strategic partnership in Q2 2022 financials.
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.
Bhang 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 seven 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.
Bhang Investors contact:
J. Graham Simmonds
Executive Chairman of the Board
INDVR Investor Information
Phone: +1 (403) 619-2200
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.
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. 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 forwardlooking 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.
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