Neptune Wellness Solutions’ (NEPT.T) Mood Ring recreational cannabis brand goes on sale in British Columbia for the first time this week, according to a press release.
The products will be on shelves in BC Cannabis Stores in both their online and brick-and-mortar locations, starting this week, as well as 299 private retailers in British Columbia. The company marked Mood Ring’s arrival with a virtual conference.
“This is a landmark moment for Neptune as we embark on widespread distribution through-out the Canadian market. The Company’s mission is to become the brand leader in cannabis and we have established a KPI program that we believe will deliver new and innovative SKUs for the next five successive quarters,” said Michael Cammarata, Neptune’s chief executive office and president.
Originally developed and manufactured in their Sherbrooke, Quebec facility, Mood Ring includes high CBD oil, high CBD capsules, and both Classic and Legacy Hashish. Their hashish products involve extracted cannabis trichomes and use Neptune’s own solvent free extraction method for THC concentrates.
“We believe cannabinoids are poised to be the next super-ingredient. We are standing on the edge of a plant-based transformation, driven as a result of changing consumer demand. Neptune intends to bring the benefits of cannabis to the world to harness its wide range of benefits across wellness, beauty, household products, among other uses,” said Cammarata.
Neptune is anticipating more Canadian purchase orders after they signed a supply deal with the Ontario Cannabis Store, and the company is working with provincial boards to get their products registered and increase their distribution for Mood Ring.
“Canadian customers will soon learn Mood Ring isn’t only about Hashish, Oil and Capsules. We are aggressively pursuing the development and manufacturing of many new cannabis product lines that continue to meet our commitment to reaching a certain bar – that is, high quality, affordable and environmentally friendly products,” said Greg Herle, Neptune’s national sales director.
The potential retail reach of Mood Ring is at least 584 retail stores.