leadf
logo-loader
viewZoetic International PLC

Zoetic highlights significant order for Chill product range

The company said the order, which will see Chill rolled out in a number of US convenience stores, marked the “crossing the Rubicon” to full commercialisation

Zoetic International PLC - Zoetic highlights significant order for Chill product range

Zoetic International PLC (LON:ZOE) said it has received a significant order under one of its existing contracts to roll out stock of its Chill range of tobacco substitute cannabidiol (CBD) products in a number of convenience stores across the US.

In a trading update ahead of its annual general meeting later today, the CBD firm said the order was the latest demonstration of the attraction of its Chill brand and “marks the “crossing the Rubicon” to full commercialisation” following what it said was “excellent consumer feedback” during the beta phase.

READ: Zoetic says demand for CHILL CBD products exceeds expectations

Zoetic also said the transaction to sell its legacy oil and gas interest, DT Ultravert, and its Kansas nitrogen assets to Path Investments PLC will not be able to be concluded within the long-stop date of October 31, 2020, included in the original asset purchase agreement and that it is currently considering its options and anticipates providing an update within the next two weeks.

"We are delighted with this order, which we view as the next important step in our progress towards being a substantial player in the American tobacco-replacement market", Zoetic co-chief executive Antonio Russo said in a statement.

"While this further delay to exiting our legacy natural resources business is frustrating, we are determined to ensure we get the best deal for our shareholders", added fellow co-CEO Trevor Taylor.

Quick facts: Zoetic International PLC

Price: 49 GBX

LSE:ZOE
Market: LSE
Market Cap: £95.83 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Zoetic International PLC named herein, including the promotion by the Company of Zoetic International PLC in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Market report: FTSE's festive cheer after lockdown measures get set to ease

FTSE 100 moved higher on the good vaccine news yesterday and the round of UK lockdown easing measures confirmed last night by the prime minister. The blue-chip index added 38 to 6,372.   Not everyone was happy with new tiered lockdown system and Boris Johnson was accused of killing...

2 days, 19 hours ago

2 min read