International Cannabrands Inc.
International Cannabrands Announces Distribution Deal with Nabis
Tuesday, May 7, 2019 9:00 AM
DENVER, CO / ACCESSWIRE / May 7, 2019 / International Cannabrands Inc. (CSE: JUJU) (the 'Company') is pleased to announce that La Vida Verde ("LVV"), the Company's largest operating company, has signed a major distribution arrangement with Nabis - one of California's largest Type 11 distributors with state-wide reach. In March, Nabis completed its second round financing and is backed by Y Combinator, Liquid 2 Ventures, Soma Capital, Babel Ventures, Paul Buchheit (creator of Gmail), Stanley Tang (co-founder of DoorDash), and Clark Valberg (CEO of InVision).
This significant expansion of LVV's distribution is strategically important to its continued sales growth and aggressive expansion initiative. Nabis currently distributes to over 90% of the retailers in California.
"Nabis has an unparalleled track record for dependability and timely service. This relationship allows us to rapidly expand our sales territory to parts of the state that have previously been unreachable i.e., north of Sacramento and South of LA" noted Bryce Berryessa, President of La Vida Verde and Board Member of the Company.
LVV's goal is to increase delivery speed and availability to key accounts that are on the perimeter of its current service territory. Equally important, the partnership frees up resources to accelerate product development and launch new product lines for the La Vida Verde, Blank Brands, and SkunkFeather brand families.
'Nabis is regarded as a top-tier distributor and we have dominated the industry with our extensive network and supreme success rate,' said Daniella Segal, Director of Business Development at Nabis. 'Partnering with La Vida Verde, a leading company that champions holistic cannabis products of the highest quality, only strengthens our positioning and we are thrilled to aid their expansion efforts with existing and new accounts across the state.'
"LVV has had a strong first quarter with the hiring of a VP of sales, a full sales team and a core group of brand ambassadors engaging with the leading Northern California dispensaries and our release of new products. Once the transition of LVV distribution resources onto Nabis' platform is complete, LVV plans to repurpose a portion of our internal space used for distribution and move forward with our plan to build out extraction with a C1D1 lab and onsite refinement" shared Eric Hara, CEO La Vida Verde.
Nabis is a leading, independent cannabis distributor based in California with a software front-end and infrastructural backend. The tech-driven company provides a lightning-fast distribution network for the fulfillment, storage, and sales of wholesale cannabis products for over 40 major brands including Canndescent, THC Design, Cresco, Beezle, Nasha, and Honey Vape to retailers across the state from small delivery businesses to major dispensary chains. Founded on a simple mission to modernize the cannabis supply chain in 2017, Nabis offers transparency and efficiency for partners through their unique software portal that seamlessly automates every aspect of cannabis distribution. For more information, visit their website at www.getnabis.com.
About International Cannabrands (ICI)
ICI's strategy centers on acquiring micro brands, distribution and specific manufacturing/cultivation companies in the cannabis space. The Company's business model is to generate revenue from cannabis cultivation, brands ranging from flower to edibles and from THC to CBD, oil extraction, ancillary products and apparel in the United States. ICI markets products with THC content where that practice has been legalized at the state level through either medicinal or full recreational use. ICI also markets products containing CBD in the US and internationally. ICI owns 51% of La Vide Verde, Inc. and has the exclusive rights to Julian Marley's JuJu Royal™ brand. The Company believes as the legal cannabis market evolves, high-quality, unique products will increasingly capture market share and provide a valuable platform for growth.
About La Vida Verde, Inc. (LVV)
In addition to LVV's wholesale flower, packaged flower, pre-rolls and blunts, its differentiating products include gummies, upscale protein bars, new chocolate forms and super cookies. LVV Brands currently include Skunk Feather Cannabis™ and Blank Brand™. LVV has been operating in California since 2015, and currently has extraction, manufacturing and distribution capability. LVV is a leader in the extraction field, being one of the first to incorporate full spectrum testing in every product, testing for potency, terpenes, pesticides and residual solvents. Its concentrates are pharmaceutical grade and free of any pesticides, microbial contaminants, heavy metals or additives. LVV has recently doubled its manufacturing capability and has installed state-of-the-art technology. LVV believes that the best medicine starts with the food you eat and it takes pride in producing products for people who are search for a natural and healthy alternative for nurturing their bodies. All its products use only healthy fats, are vegan, organic, gluten-free, paleo friendly and low glycemic.
International Cannabrands Contact:
Steve Gormley Chief Executive Officer
1045 Lincoln Street, #106 Denver, Colorado 80203
Ph: (323) 828-4321 or steve.gor[email protected]
Media Inquiries: [email protected]
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Disclaimer concerning Forward-looking Statements
Certain statements included herein constitute 'forward-looking statements' within the meaning of applicable securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Investors are cautioned not to put undue reliance on forward-looking statements. Additional risks and uncertainties regarding the Company are described in its publicly-available disclosure documents filed by the Company on SEDAR (www.sedar.com). The forward-looking statements contained in this news release represent the Company's expectations as of the date of this news release, or as of the date they are otherwise stated to be made, and subsequent events may cause these expectations to change. Except as required by law, the Company does not intend, and undertakes no obligation, to update any forward-looking statements to reflect, in particular, new information or future events.
SOURCE: International Cannabrands Inc.