- Award-winning cannabis brand portfolio
- Focused on US legal cannabis market growth
- Experienced management team
What INDVR Brands does:
INDVR Brands Inc (CSE:IDVR) (OTCMKTS:CAAOF) (FRA:3YX), formerly known as Cannabis One Holdings, is a Colorado-based, Canada-listed company focused on the creation and distribution of unique and exciting brands in the legal US cannabis market.
Since August 2020, through new corporate objectives set out by the new board and management team, INDVR has become focused on growing its infused product brands and using those brands to expand its distribution reach to over 1,000 dispensaries across Washington, Oregon and Colorado.
Its award-winning Honu brand, meanwhile, encompasses edibles, including peanut butter cups, turtles, salted caramels, milk chocolate medallions, and other products. Honu also has a topical product line that includes bath bombs and skincare items.
INDVR also owns the well-known Cheech’s Stash line, three specific cannabis strains selected by American comedian Cheech Marin, one half of the famous Cheech and Chong comedy duo.
Other brands owned by the company include INDVR Stealth, a premium line of fashion-meets-function vaporizers, INDVR Strains and INDVR Fire, both of which offer a more discrete way to vape.
And while INDVR wants to bolster its business model nationally through the aggregation of premium cannabis brands and operations, it also envisions becoming a globally recognized house of brands with a portfolio of clients that offer award-winning products with extensive markets.
INDVR Brands is led by CEO Joshua Mann, founder of Calgary-based merchant bank Luminous Capital, who brings over a decade of capital markets and management experience across the cannabis and natural resource industries. He has also been involved in raising more than $3 billion in capital funding to date across the cannabis, psychedelic, energy, mining, and technology sectors.
How it is doing:
In March, 2021, INDVR announced that it had agreed to acquire “substantially all” of the assets of Nevada-based Strainz Inc and Colorado-based Bronnor, Corp, which will allow the company to become a fully-licensed manufacturer and distributor of infused products in Colorado.
INDVR said the pending acquisition will give it access to a distribution platform of more than 500 dispensaries in Colorado and Nevada, including over 1,200 dispensaries across four states.
Included in the asset purchase is a fully-licensed, 25,000 square foot cannabis processing and manufacturing facility in Denver capable of producing edibles, tinctures, vapes, concentrates, soft gels and several other infused cannabinoid products.
Earlier in 2021, INDVR Brands said it had formally incorporated its subsidiary in California and was in late-stage discussions with three independent distributors to begin supplying its Honu edible products to about 400 retail locations throughout the state.
The company noted the expansion into California will mark the third state in which the Honu brand is manufactured and distributed after Oregon and Washington.
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.
As well, the company announced it is expanding its market share in the US cannabis edibles and infused products space as it exceeded internal estimates in both Washington and Oregon. Through its third-party manufacturing partner in Washington, INDVR said it sold over 206,000 individual edible units in December, a 12% month-over-month increase from the 184,000 units sold during the previous month.
The company also recorded an 8% sales increase in its infused topical segment, bringing units sold to over 2,700 in December 2020. The Honu brand is currently sold in over 350 dispensaries in Washington State.
On the financial front, INDVR Brands reported a record January for its Honu brand in Washington State with more than 262,000 edible units sold. INDVR said Honu revenue rose 11% year over year in January to $216,031, despite coronavirus (COVID-19) related production impacts.
- Continued sales momentum
- Potential moves into additional US states where cannabis is legal
- Further M&A activity
What the boss says:
Commenting on the company’s recent Nevada and Colorado assets purchase, INDVR Brands CEO Joshua Mann said in a statement: “This is a milestone relationship for us. In addition to a highly sought-after Colorado processing license, the Strainz, Bullet Concentrates and 7Sacred brands significantly expand INDVR’s award-winning portfolio of adult-use cannabis products and add hemp-derived products to the portfolio.”
Mann added: “The agreement also exemplifies our dedication to INDVR shareholders through becoming a fully licensed cannabis-infused products operator in Colorado.”
Contact Sean at [email protected]
Story by ProactiveInvestors
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