TORONTO, March 11, 2020 (GLOBE NEWSWIRE) -- North Bud Farms Inc. (CSE: NBUD) (OTCQB: NOBDF) ("NORTHBUD" or the "Company") is pleased to announce the launch of its NORTHBUD branded products into select retailers in Nevada, USA. The products are manufactured through NORTHBUD’s ownership and operating agreement with Nevada Botanical Sciences, Inc. (“NBS”), who is licensed for cultivation, manufacturing and distribution.
NORTHBUD Nevada Launch Strategy Update
Prior to its asset purchase transaction with NORTHBUD, previously announced on November 19, 2019, NBS had been exclusively servicing white label customers. Over the past 3.5 months, NBS and NORTHBUD have transitioned the Nevada operations to focus on NORTHBUD branded flower products, culminating with the recent launch of NORTHBUD Black 9 Lbs Hammer (Jinxproof phenotype) in 1 gram, 3.5 gram and 7 gram formats to select retailers in Reno, Nevada.
Over the coming weeks, the Company intends to expand distribution to multiple retailers in Northern Nevada and Las Vegas. NORTHBUD products will be available in both dried flower and pre-roll formats under the NORTHBUD White, Black and Platinum brands.
With over 45 million visitors a year from all over the world, Nevada is a key market for building an internationally recognized brand, and the Company believes that it is the ideal market for the launch of its NORTHBUD products. The Nevada market is considered one of the largest and most profitable in North America with recreational sales of USD$580 million in the first full year of legalization (2017 Nevada Dept. of Taxation).
“The NORTHBUD and Bonfire Brands USA team are extremely proud to have launched our own branded products, making the state of Nevada our strategic entry point into the U.S. legal cannabis market,” said Sean Homuth, CEO of NORTHBUD. “We believe the NORTHBUD brand will offer a unique variety of products curated for experienced consumers who demand appropriately priced, high-quality cannabis flower.”
About North Bud Farms Inc.
NORTHBUD, through its U.S. subsidiary Bonfire Brands USA, has acquired cannabis production facilities in California and Nevada. The Salinas, California 11-acre farm is actively cultivating cannabis in its 60,000 sq. ft. of licensed greenhouse production space, and also has active distribution and processing licenses. The Reno, Nevada property contains a world-class cannabis production, research and development facility with 5,000 sq. ft. of indoor cultivation, and holds medical and adult-use licenses for cultivation, extraction and distribution. Through its wholly-owned Canadian subsidiary, GrowPros MMP Inc., the Company is pursuing a license under The Cannabis Act, to cultivate in its state-of-the-art purpose-built cannabis production facility located on 135 acres of agricultural land in Low, Quebec, Canada.
For more information visit: www.northbud.com
