Nevis Brands (CSE:NEVI, OTCQB:PSCBF) announced it has secured a licensing agreement with Stash House to produce and distribute its Major-branded cannabis beverages in new Jersey.
Investors welcomed the news, sending shares of Nevis Brands up 32% on Tuesday morning.
The company said Stash House has licensed its full Major lineup, and will lead with the production of Major shots in the flavors Blueberry, Fruit Punch and Blackberry Lemonade.
Nevis Brands expects production and distribution will commence in the fall.
“New Jersey represents the first state for Nevis to be operating on the Eastern Seaboard and we are enthusiastic about the opportunities the state represents,” Nevis Brands CEO John Kueber said in a statement.
“The New Jersey market is in a rapid growth phase and we are pleased to again be working together with Stash House as our licensee to execute in this market.”
Shane Finn, Stash House chief operating officer, added: "Having worked with Nevis to launch Major in Missouri and Mississippi we are looking forward to carrying Major in yet another state. Major Shots are a key part of our product platform and we believe New Jersey will be highly receptive to the Major beverage.”
New Jersey is the 11th state where Major has been licensed for production.
Major is currently sold in Washington, Oregon, Arizona, Ohio, Colorado, Nevada, California, Mississippi and Missouri, and the company working through the regulatory approval process in Michigan.
The company has sold more than 5 million bottles of its Major 100mg THC beverage since the product was launched in Washington State in 2019.