Chill Brands Group PLC (LSE:CHLL, OTCQX:CHBRF) said it will refresh its brand after taking full ownership of the chill.com web domain.
Payment of the remaining balance of US$800,000 (approximately £653,000) means that the company has now acquired the full beneficial title.
“We are the proud owners of a highly brandable, premium domain asset reflective of a word that is pervasive in the everyday lives of consumers and is easy to say, spell, and remember,” said chief executive Callum Sommerton.
He added: “Those qualities are gold dust for marketers, and we intend to maximise the potential of the Chill.com domain by expanding and improving our brand which, in common with our consumers, should be bright, energetic and youthful."
To this end, the company said it is engaging professional designers and developers to execute a “visual refresh” of the brand to “improve consumer targeting and to ensure that marketing of the brand is consistent across all regions”.
It will focus on the brand's identity and renew the focus on marketing products containing CBD and other natural ingredients as “functional, fun, and relaxing”.
Last week, the group confirmed that it had raised £212,201 in an open offer for existing shareholders, on the same terms as a £3.5mln fundraising in April.
Sommerton said the proceeds of both will be put to use in strategic marketing initiatives and the continued development of its sites.