Highlands Natural Resources PLC (LON:HNR)

Highlands Natural Resources PLC (LON:HNR)


Share Price
10.28 p
Change
-0.675 (-6.16 %)
Market Cap
£14.02 m
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Highlands Natural Resources PLC RNS Release

First Retail Sale Agreement - Zoetic Organics


RNS Number : 5818U
Highlands Natural Resources PLC
01 April 2019
 

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY HIGHLANDS TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 ("MAR"). ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

1 April 2019

 

Highlands Natural Resources plc ('Highlands' or 'the Company')

First Retail Sale Agreement - Zoetic Organics

 

Highlands, the London-listed natural resources company, is pleased to announce that its wholly-owned subsidiary Zoetic Organics has signed its first retail distribution and sale agreement, marking the beginning of on-site retail sales of its CBD products.

 

Zoetic Organics has entered into an initial 2-year distribution and sale agreement with Schrader Oil and Ox Distributing which collectively manages a wide network of convenience and gas stores and convenience store distribution services across the United States.

 

Zoetic branded pre-rolled CBD smokables, ready-rolls and CBD chew pouches will initially be distributed to and sold in 18 Schrader Oil convenience and gas stores. The parties also continue to work towards expanding their operations to both additional Schrader Oil and Ox Distributing affiliated stores and other third-party convenience stores.

 

This represents the first line of retail products that Zoetic aims to launch this year. Four different natural flavoured and CBD infused herbal smokables, ready-rolls and CBD pouches are targeted for both regular CBD consumers and those who are seeking to transition away from tobacco products.

 

Zoetic aims to deliver its first batch of CBD smokables and ready-rolls into the stores by the beginning of May  and its CBD chew pouches by June. Pending the Company's own first crop this summer, the supplies needed for these initial products are sourced from an organic hemp farmer in the State of Colorado

 

Zoetic expects this sale agreement to represent the first step of its plans to be a supplier of variety of CBD products in the State of Colorado and, in time, across the United States and internationally.

 

Highlands is also pleased to announce that it has now secured the lease of the growing operation and appointed a management team for Zoetic Organics, as described in its announcement of 19 March. 

 

Robert Price, Executive Chairman and CEO of Highlands, said: "This is a significant development for Highlands as not only does it accelerate our predicted revenues from Zoetic Organics ahead of our own first harvest but it also provides us with an early opportunity to establish the Zoetic brand." 

 

 

***ENDS***

 

For further information:

 

Highlands Natural Resources plc      

Robert Price    +1 (0) 303 322 1066

           

Cantor Fitzgerald Europe      

Nick Tulloch    +44 (0) 20 7894 7000

David Porter  

           

Newgate Communications

Elisabeth Cowell

Fiona Norman +44 (0) 20 3757 6880

 


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