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Indiva’s (NDVA.V) expands to give you your next edible gummy high

edible
03/31/2020

Indiva (NDVA.V) received Health Canada’s approval for their license amendment today, allowing them to add another 10,000 square feet of production space for edible gummies and chocolates.

The license and space adds additional capacity for the production of Bhang chocolate, Wana sour gummies and other Powered by Indiva products. It also gives the company more space to begin their extraction operations.

“We expect to enter new markets and deliver new, innovative products that already have significant market share in mature markets south of the border. Canadians want great cannabis products at competitive prices. Our partnerships with proven, trusted brands help us deliver just that, and we cannot wait to share our next great product with consumers — Wana sour gummies,” said Neil Marotta, president and chief executive officer of Indiva.

Indiva is a Canadian licensed producer of premium cannabis and related products, that offers production and manufacturing services on the side. The company’s London, Ontario-based facility includes aeroponic, environmentally-conscious grow rooms and a production and manufacturing space that produces safe, high-quality cannabis products. In Canada, Indiva produces and distributes Bhang Chocolate, Ruby Cannabis Sugar, Sapphire Cannabis Salt, Gems and other derivative products through license agreements and joint ventures.

Bhang chocolate hit stores in Ontario on February 8, 2020. Within days both the milk and dark chocolate ranked in the top two positions for sales, by dollars and units, above all the other edible SKU’s in the province and received positive reviews on platforms like Life&Co and on social media. They also enjoyed similar successes in Alberta, Saskatchewan, and Nova Scotia, where they’re a consumer favourite. Across the four provinces where Bhang is being sold, the company has secured considerable edibles market share. British Columbia is next, slated for Q2 2020.

Also, Indiva launched THC capsules and is still producing its whole flower prerolls in strains like White Russian, Jack Herer and OG Kush. They expect to triple their preroll producing capacity by introducing of best-in-class automation in Q2 2020, and have entered into contract cultivation agreements to support their aim of higher volumes.

Indiva products are presently available in six provinces, including:

  • Ontario: prerolls, chocolate and capsules;
  • Alberta: chocolate;
  • Saskatchewan: prerolls, chocolate and capsules;
  • Nova Scotia: chocolate.

Indiva is also going to be delivering Wana Brands’ sour gummies to Canadian markets later this in year in flavours like strawberry lemonade, pomegranate blueberry acai and watermelon, and in a variety of THC and CBD varieties. The gummies are vegan, gluten-free and made without artificial flavours and sugars.

“Canada is an important market for Wana and a gateway to international expansion. We’ve been searching for the past two years for the perfect Canadian partner, and we found that with Indiva. We look forward to bringing to Canada a decade of cannabinoid expertise, as well as leading-edge innovation that Wana products are known for,” said Nancy Whiteman, chief executive officer of Wana Brands.

According to BDS Analytics 2019 brand share report, Wana Brands is the leading edible producer in the U.S. with more dollars sold than any other brand. They’re currently available in Arizona, California, Colorado, Illinois, Michigan, Ohio and Oregon.

—Joseph Morton

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