INDVR Brands Inc (CSE:IDVR) (OTCMKTS:CAAOF) (FRA:3YX) said it has formally incorporated its subsidiary in the US state of California and is in late-stage discussions with three independent distributors to begin supplying its Honu edible products to about 400 retail locations throughout the state.
The cannabis brand consolidator and edibles retailer said the expansion into California will mark the third state in which the Honu brand is manufactured and distributed after Oregon and Washington.
READ: INDVR Brands see more edible and infused-products market share in Washington State and Oregon
INDVR said it is currently obtaining necessary packaging approvals and anticipates it will make its first shipments to California retail locations during the second quarter of 2021.
"With the edibles segment making up more than 20% of the cannabis consumed in California in 2020, we recognize now is the optimum time to introduce our HONU brand's cannabis-infused products into the fastest growing adult-use cannabis market in the world," INDVR chief executive Joshua Mann said in a statement.
"Our award-winning HONU products are currently doing exceptionally well in over 700 locations across Washington and Oregon. In December 2020, in Washington alone, the Honu brand sold over 206,000 individual edible units, and we look forward to providing a fantastic new product offering to Californians in the very near future", he added.
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