Nevis Brands (CSE:NEVI, OTCQB:PSCBF) announced that it is expanding its cannabis beverage offering in Washington State with three new products.
The company said on Thursday that it has received the necessary state approvals and is completing production of the new products to add to its existing lineup.
The new products are Happy Apple 10mg THC cans and two more flavors of its flagship Major cannabis beverage, Apple Peach 100mg THC shots and Zero Cal Lemonade 100mg THC shots.
Nevis said the products will be in the market in May 2024 and are expected to begin contributing to its royalty revenues starting in June 2024.
“We are excited to deliver some additional products to our home state of Washington State,” Nevis Brands (CSE:NEVI, OTCQB:PSCBF) CEO John Kueber said in a statement.
“With the prior success of Happy Apple and some growth in the lower dose cannabis beverage market, we felt it was an opportune time to revisit this market with a brand that not only speaks to the consumers of Washington State.”
He also expressed his enthusiasm over the company’s lemonade-flavored, zero-calorie version of Major that he believes consumers will find comparable to regular sweetened versions of lemonade.
“We believe that there is a growing number of cannabis consumers who are looking for less caloric ways to enjoy cannabis and we are pleased to provide our dedicated customers with new flavor profiles,” Kueber said.
“Adding new flavors and products as well as adding new licensees is consistent with our strategic goal to grow our aggregate licensee sales and royalties.”
More than $700,000 per month of Nevis-related products are already sold at Washington State dispensaries, with Nevis collecting royalties on their sale. Its existing product lineup includes Major in nine flavors, Happy Apple 100mg bottles, Vertus and Velvet Swing.
The company said it may introduce these three new products to its licensees in other markets where its products are being sold, which are Oregon, Arizona, Ohio, Colorado, California, Missouri and Nevada. It is preparing for production in Michigan.