The Good Shroom (TSX-V:MUSH) Company Inc’s subsidiary Teonan Biomedical Inc, which operates Nordique Royale, revealed that it has begun selling another hash product in Quebec, which is Canada's largest hash market.
The Montreal-based company revealed that Le Kush X by Nordique Royale launched on Thursday. The company received its first purchase order, or PO, for the product for $24,030 and expects to “receive replenishment PO's every one to two weeks for this product in addition to its other products.”
The launch is happening in nearly 30% of stores for the first six months and is expected to move into all stores after that, said the company. The size of the purchase orders is also expected to increase concurrently, noted the firm.
READ: Good Shroom Co to launch instant beverage products at all Fresh Thyme Markets in the US
In addition, Nordique Royale has three other hash products presently being sold in Quebec and expects to increase its market share “significantly” with a series of new product launches in the hash, infused pre-roll and cannabis flower segments occurring in the next three months, noted the company.
The current hash market in Quebec is worth approximately $55 million annually, according to the company.
Separately, the company issued a correction to an April 1, 2022, press statement stating that the term of the options granted to Paradox Public Relations Inc is two years when in fact it is three years.
The Good Shroom (TSX-V:MUSH) Company operates a portfolio of brands which include traditional cannabis and beverage products. It exists to promote the use of functional ingredients such as probiotics and functional mushrooms in consumer products.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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