MIAMI, July 11, 2019 (GLOBE NEWSWIRE) — Bhang Corporation (“Bhang” or the “Company”) (CSE: BHNG), a cannabis house of brands with an extensive, award-winning portfolio of products, announced today that, further to its news release on July 9, 2019, it will begin trading on the Canadian Securities Exchange (“CSE”) as Bhang Inc. under the stock symbol “BHNG” on July 11, 2019.
“We’re proud to announce this major milestone for Bhang and the industry, as we see a national cannabis brand begin trading on the CSE. This public listing fuels our strategy to meet the growing demand for today’s most innovative cannabis products,” Scott Van Rixel, CEO of Bhang, said. “While our model is not reliant upon accessing the capital markets, our going public transaction will allow us to evaluate new opportunities to accelerate our growth, build our industry-leading house of brands and increase shareholder value.”
Bhang Expanding as a Leading “House of Brands”
Founded in 2010, Bhang has continued to build on its award-winning edibles product line and today has an expansive portfolio of over 100 cannabis, hemp-derived cannabidiol (CBD) and terpene products (which are sold through its licensees and/or by Bhang directly). International distribution and expansion to more geographies is anticipated in 2019. Bhang also has a robust pipeline of new products ready to be launched in the next 12 months as it builds a powerful “House of Brands.”
Bhang Corporation Highlights:
- Bhang is one of the first and most recognized, diversified and established brands in cannabis having won over 30 awards including one of the most awarded cannabis chocolate bars in the world.
- The existing Bhang brand will serve as the foundation for the Company’s “House of Brands” vertical expansion program, which includes a full suite of THC, hemp-derived CBD, and terpene products, and a CBD brokerage. All of this is driven by Bhang’s product quality, leadership, innovation and longevity which will continue to drive trust in the marketplace.
- Bhang’s expansive product portfolio combined with its well-established distribution and licensing network position Bhang to capture significant market share across multiple target demographics. Some of the large target markets currently addressed with the Company’s eight active brands and 100-plus products include: the cannabis and hemp-derived CBD market, the performance-athletics market, and the nicotine-cessation market. The Company will be launching eight more brands with new products over the coming months that will address several larger and underserved end-markets as well.
- Bhang’s soon-to-be introduced terpene products will enable Bhang to gain valuable, retail shelf space and leverage the sales pipeline for other products when regulations permit.
- Bhang has top-tier manufacturing/distribution partnerships with Trulieve in Florida, Origin House/Cresco in California, and a 50/50 joint-venture with Indiva for Canadian and select worldwide distribution. Vertically-integrated operators’ decisions to partner with Bhang is yet another indication of the strength of the Bhang brand and the quality of the products. In total, there are currently over 1,000 stores selling Bhang’s brands and this number is expected to exceed 2,000 by the end of the year.
- Bhang’s unique low CAPEX/OPEX business model provides multiple revenue stream opportunities including license revenues, wholesale revenues, direct to consumer revenues through bhangcbd.com, and revenues from its CBD brokerage business.
- Bhang leverages its long-term cannabis industry relationships via its CBD brokerage business, helps satisfy some of the tremendous demand for CBD that currently exists and, in the process, reduces its input costs via the large volume purchase discounts it receives.
- Bhang is opportunistically evaluating M&A growth opportunities and joint ventures with top manufacturers and leaders in their respective consumer segments.
- Bhang has carefully assembled a management team that can carry out the Company’s strategy. The team possesses a combination of experience in the CPG/alcohol/retail sector as well as deep cannabis expertise, making the senior team uniquely positioned to execute on this growing opportunity.
Bhang Senior Management Team
Scott J. Van Rixel, Founder, Chairman & Chief Executive Officer.
Cannabis Trailblazer. Brand Architect.
High Times Top 100 in cannabis recipient. Mr. Rixel has a proven track record in innovative product and brand design from over two decades with major retailers. He is a founding member of the National Cannabis Industry Association and a European certified Chef de Cuisine and Master Chocolatier.
Tom Stein, President
Mr. Stein is an experienced adult beverage industry leader and executive with focus in execution, distribution, finance, marketing, and M&A. He is a seasoned entrepreneur with a successful management and operational track record. Prior to Bhang, he served in the role of Vice President at Edrington (brands including The Macallan, Highland Park, The Glenrothes, and The Famous Grouse), Director of Sales at Palm Bay and Distributor Manager at Diageo.
Jamie Pearson, Chief Operating Officer and Corporate Secretary
Ms. Pearson is a rare second-generation cannabis executive with decades of experience in global operations, deal structuring and negotiation as a former real estate executive. She was voted one of the High Times most influential women in cannabis. She is fluent in German and English, responsible for European RTM & global operational roll-out across market sectors.
Samantha Collins, Chief Marketing Officer
Ms. Collins is an award-winning brand marketer who held leadership positions at Diageo and Treasury Wine Estates. She has a proven track record of success growing global brands across multiple demographics and geographies. She is responsible for Bhang’s global brand strategy, brand positioning, innovation and expansion.
Jeremy Applen, Chief Science and Procedures Officer
Mr. Applen is a quality management and cannabis system implementation design expert. He served on advisory panels to Association of Public Health Laboratories and Centers for Disease Control and Prevention. Mr. Applen is the Vice Chairman ASTM Committee D37 on cannabis.
Stephen Gledhill, Chief Financial Officer
Mr. Gledhill has over 25 years of financial-control experience and acts as CFO and Corporate Secretary for multiple publicly-traded companies, several of which he was instrumental in scaling up and taking public. Mr. Gledhill has served as the Senior Vice President and CFO of Borealis Capital Corporation, a Toronto-based merchant bank as well as Vice President of Finance of OMERS Realty Corporation (ORC), the real estate entity of the Ontario Municipal Employees Retirement System.
Bhang is committed to delivering exceptional sensory experiences to consumers at every point in their cannabis journey through its award-winning portfolio of brands. Bhang is a trusted cannabis house of brands with an extensive portfolio of over 100 cannabis, hemp-derived CBD and terpene products, including chocolates, pre-rolls, vapes, gums, beverages, gummies and mouth sprays, among others, that are sold by its licensees and/or by Bhang directly. Since 2010, Bhang has mastered the art of harnessing mutually-beneficial partnerships to bring safe, consistent and delicious products to consumers. Learn more at bhangnation.com
Valter Pinto / David Hanover
KCSA Strategic Communications
212-896-1254 / 1220
Valter@kcsa.com / DHanover@kcsa.com
Tim Gray/Nick Opich
KCSA Strategic Communications
212-896-1251 / 1206
TGray@kcsa.com / NOpich@kcsa.com
FORWARD LOOKING STATEMENTS AND DISCLAIMERS
Certain statements contained in this news release may constitute forward-looking information. Forward-looking information is often, but not always, identified by the use of words such as “anticipate”, “plan”, “estimate”, “expect”, “may”, “will”, “intend”, “should”, and similar expressions. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. The Company’s actual results could differ materially from those anticipated in this forward-looking information as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, and other factors, many of which are beyond the control of the Company. The Company believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Any forward-looking information contained in this news release represents the Company’s expectations as of the date hereof, and is subject to change after such date. The Company disclaims any intention or obligation 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 legislation.
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.
Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.