INDIVA SIGNS EXCLUSIVE LICENSING AND MANUFACTURING AGREEMENT WITH GRÖN
INDIVA TO BRING INNOVATIVE EDIBLES BRAND PORTFOLIO TO CANADA
LONDON, ON, Dec. 15, 2021 /PRNewswire/ - Indiva Limited (the "Company" or "Indiva") (TSXV: NDVA) (OTCQX: NDVAF), the leading Canadian producer of cannabis edibles, is pleased to announce that it has entered into a Licensing and Manufacturing Agreement with Oregon-based Grön to bring its innovative and fun edibles brand portfolio to Canada. Following on Indiva's success producing and distributing the top selling chocolates and gummies in Canada, the launch of Grön products in Canada will expand Indiva's edible portfolio to include products with thoughtful, unique minor cannabinoid ratio combinations and form factors. The initial term of the agreement is for five years, automatically renewing for three additional five-year terms.
Founded by Christine Smith, the woman-led and owned edible brand Grön (pronounced "grewn") is based in Portland, Oregon, and is one of Oregon's leading producers and fastest-growing distributors of cannabis edibles. Grön's edibles portfolio includes candy-coated chocolate 'Pips', chocolate bars, gelatin gummy 'Pearls' and other novel edible products. Grön currently manufactures and distributes its products across four US states, where legally permissible to do so under applicable state laws, and distributes its CBD-infused products into international markets.
"We are delighted to partner with Grön to bring their innovative, original, high-quality edible products to the Canadian market," said Niel Marotta, CEO of Indiva. "Indiva remains committed to growing its top-line and market share organically in Canada by bringing products to market that delight our customers, while expanding the selection of legal cannabis edibles in Canada. This agreement will allow Indiva to do just that, with new products which are unique to the Canadian market and complementary to our existing portfolio of cannabis edibles."
"We are excited to partner with the Indiva team to bring what we believe are the best tasting edibles in the market today. Their commitment to product consistency and industry support gives us confidence that they will be exceptional stewards of the Grön brand. Grön's cannabis-infused edibles are the perfect addition to the Canada adult-use cannabis market, bringing the 'Edibles 2.0' to the community through our innovative effect-driven cannabinoid ratios, deliciously refreshing gummy and chocolate flavors, all made with high quality ingredients," said Christine Smith, Founder and CEO of Grön.
Indiva intends to begin production of Grön products in Canada as soon as possible, with initial deliveries to provincial wholesalers targeted for late Q2 2022.
ABOUT GRÖN
Grön is a women-led multi-state producer of the best tasting adult-use cannabis-infused edibles. The passionate team of seasoned executives, chocolatiers, and confectioners come from all over the world to create something beautifully delicious for you. Their ingredients are organic, single-origin, Fair Trade Certified, and locally sourced whenever possible. Product offerings in US markets include cannabis-infused chocolate, Sugar-Coated Pearls, Mega Pearls, Candy-Coated Chocolate Pips, as well as Hemp CBD and adaptogen-infused chocolate, vegan fruit chews, tinctures, and skincare. Since inception, they've led the cannabis edibles category in the markets in which they operate with a vast selection of thoughtfully formulated products. Though Grön was founded in 2015 producing artisan cannabis-infused chocolate, product innovation continues to shape their offerings in markets hungry for something new. Grön cannabis edibles are available in Arizona, Nevada, Oklahoma, and Oregon, with multiple new markets anticipated to be added in 2022. Connect with Grön on Instagram, LinkedIn, Twitter, or on their website — eatgron.com.
ABOUT INDIVA
Indiva sets the standard for quality and innovation in cannabis. As a Canadian licensed producer, Indiva produces and distributes award-winning cannabis products including Bhang® Chocolate, Wana™ Sour Gummies, Slow Ride Bakery Cookies, Jewels Chewable Tablets, Ruby® Cannabis Sugar, Sapphire™ Cannabis Salt, as well as capsules, pre-rolls and premium flower under the INDIVA and Artisan Batch brands. Click here to connect with Indiva on LinkedIn,Instagram, Twitter and Facebook, and here to find more information on the Company and its products.
DISCLAIMER AND READER ADVISORY
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has in any way passed upon the merits of the contents of this press release and neither of the foregoing entities accepts responsibility for the adequacy or accuracy of this release or has in any way approved or disapproved of the contents of this press release.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the parties' current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the Company's future operations, future results, future product offerings and compliance with applicable regulations. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the parties. The material factors and assumptions include the parties being able to maintain the necessary regulatory and other third parties' approvals and licensing and other risks associated with regulated entities in the cannabis industry, future sales, the demand for the Company's products and cannabis products generally and the continued operations of the Company in the ordinary course. The forward-looking information contained in this release is made as of the date hereof and the parties are not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities law
SOURCE Indiva Limited
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