Neptune Wellness Solutions (NEPT.T) sent off its first commercial shipment of its Mood Ring Hashish products today, according to a press release.
The company is distributing their Mood Ring products through the British Columbia Liquor Distribution Branch. Also, this shipment follows Neptune’s December shipment of Mood Ring’s High CBD oil and High CBD capsules.
“This is a very exciting time for Neptune as we have now commenced production of Mood Ring Hashish utilizing our newly implemented and proprietary solventless extraction for THC concentrates. We believe Mood Ring is well positioned to satisfy the significant consumer demand for affordable, sustainable, premium cannabis products,” said Michael Cammarata, president and chief executive officer of Neptune.
In addition to getting products on shelves, Neptune has also entered into a supply agreement with the Ontario Cannabis Store to sell and distribute the product. This expands their footprint to over 700 stores across British Columbia and Ontario, and gives the company the opportunity to scale their product to retailers in more provinces when they get a chance.
Mood Ring’s Legacy Hashish will be available through the B.C. Cannabis Store on-line as well as their 25 government-run retail locations, and soon will be on shelves at the more than 300 private-licensed retailers across the province.
Neptune is up $0.09 so far today and presently trading at $2.41, at least temporarily stalling a decline from their early January high of $2.64.
—Joseph Morton
