Indiva Limited (NDVAF)

[FUNMAN]

Bhang Inc (OTCMKTS: BHNGF) Inks Amended License Agreement For Its THC-Infused Chocolate Products

Published 12 hours ago on July 6, 2021By Ward Sport

https://factsaboutcbd.org/bhang-inc-otcmkts-bhngf-inks-amended-license-agreement-for-its-thc-infused-chocolate-products-4468

Bhang Inc (OTCMKTS: BHNGF) recently announced to have entered into an Amended License Agreement with Indiva Limited, a licensed Canadian producer for quality and innovative range of cannabis products. This Agreement was inked through the company’s operating subsidiary Bhang Corporation. Bhang has initially interested in the Joint Venture Agreement with Indiva in April 2018, which now stands terminated.

The new Agreement entitles Indiva for the exclusive manufacturing and distribution rights of selected Bhang THC-infused chocolate products in Canada.

It also entitles Indiva to the non-exclusive right for the international exports of these products. In addition, this Agreement entitles Bhang to an upfront licensing fee and a royalty on net sales revenue. (I thought the old agreement gave them the exclusive international sales rights too? - FUNMAN)

Comments from the leadership

Bhang’s President and CEO, Jamie L. Pearson, mentioned that the Amended License Agreement with Indiva has solidified our joint operational ability and expressed that it will be a true win-win for both companies. Pearson further added that the partnership with Indiva has helped establish Bhang as Canada’s top edible brand since the company’s launch in Canada six months ago.

Niel Marotta, President, and CEO of Indiva, also expressed that his team is looking forward to work with the Bhang as their Canadian licensee and continue the production and distribution of Canada’s leading cannabis-infused chocolate brand.

Bhang’s Canada ambitions

Bhang offers an extensive portfolio of 50 plus master-chef crafted cannabis, CBD and terpene products. Some of these include CBD isolate, pre-rolls, gourmet chocolates, and HempsticksTM. In addition, the company’s chocolate brands hold the first two positions among the top-selling edibles of Canada.

Its cannabis-infused chocolate flavors include dark chocolate, fire dark chocolate, toffee dark chocolate with more than 65% cocoa content, milk chocolate, cookies & cream white chocolate, and many more.

Indiva, through the numerous partnerships, joint ventures, and license agreements, products and distributes Bhang® Chocolate, Ruby® Cannabis Sugar, and Sapphire™ Cannabis Salt, amongst others. Its range of offerings includes flowers, pre-rolls, capsules, and edible products. The company has reported its 1Q2021 results with CAD 5.53 million increase in net revenue from edible products and a record net monthly revenue in March 2021.