INDVR Brands Inc has provided an update on its operations, saying it is in the process of transitioning into a fully-licensed manufacturer and has relaunched its iconic Cheech's Private Stash brand into the Colorado market.
The company noted it is in the final stages of processing the transfer of its Colorado manufacturing license from Bronnor Corp to INDVR Brands' US subsidiary and, upon completion, will be one of Colorado's premier Marijuana Infused Products (MIPs) producers, with a state-of-the-art, good manufacturing practice (GMP)-rated, 25,000 square foot facility.
INDVR said it is actively pursuing the launch of several additional products through the facility in the near term and anticipates the licensing transfer to be completed early in the spring of 2022, which will allow all revenue generated in Colorado to be consolidated onto the company's balance sheet.
“We are excited by the progress we are making to re-invent INDVR as a high-quality manufacturer of cannabis and hemp products and a premier house of brands,” INDVR Brands CEO Hugh Hempel said in a statement.
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“We are very well positioned in an established market that is currently producing in excess of a million cannabis plants per month,” Hempel added.
The company’s re-introduction of Cheech's Private Stash to the Colorado market marks its first new product launch since the closing of its Strainz acquisition early this year and INDVR said it is also working to introduce the brand to the Pacific Northwest through affiliated licensed facilities and its distribution arm.
Cheech's Private Stash is a carefully curated selection of high potency pre-rolls, and cannabis-infused fruit chews that borrow from influences in Cheech Marin's life growing up in East Los Angeles.
INDVR Brands is focused on growing its popular hemp and cannabis brands throughout North America. It is committed to the pursuit of becoming a premier, globally recognized 'House of Brands', holding a portfolio of award-winning products with an extensive market footprint.
For consumers, INDVR seeks to be the recognized source of a broad portfolio of the highest quality hemp and cannabis products suited to meet both health and lifestyle needs. INDVR's management team brings expertise in manufacturing and retail operations, hemp and cannabis R&D, and cannabis cultivation, all working together to support a US expansion plan through organic growth and accretive acquisitions.
Contact Sean at sean@proactiveinvestors.com