First-round discussions with select Canadian provincial buyers are now complete and it is advancing its commercial rollout strategy and timelines
BevCanna Enterprises Inc () () (FRA:7BC) aims to have its Keef and Cali-Bloom drinks products on shelves across Canada in the first quarter of 2021, it told investors, as the firm revealed it had submitted notice of new cannabis product (NNCP) forms to regulator Health Canada.
In a statement on Wednesday, BevCanna also said first-round discussions with select Canadian provincial buyers are now complete and it is advancing its commercial rollout strategy and timelines.
READ: BevCanna looking to raise gross proceeds of up to $5.0 million from a non-brokered private placement of up to 10 million units
"We’re extremely pleased with the progress that we’ve made in our commercialization plans for Keef and Cali-Bloom in Canada,” said John Campbell, chief strategic officer for BevCanna.
The firm said it is in talks with one of Canada’s leading Licensed Producers (LP) to distribute BevCanna’s products to provincial cannabis distribution boards.
"Our negotiations with our partner LP are progressing very well and with our NNCP forms now in Health Canada’s hands, we’re confident that we’ll have these products on shelves across Canada in the first quarter," added Campbell.
The NNCP forms include details such as formulation details on the products, nutritional facts and raw and active ingredients ratios, and are required to be submitted to Health Canada at least 60 days prior to sale.
According to a report, Keef offers six of the top ten cannabis beverages in Colorado and three of the top ten in California, ranking it second in the USA overall in terms of units of cannabis beverages sold.
Meanwhile, according to BDSA, Cali-Bloom is consistently one of the top 10 brands in California by dollars sold, and has been one of the only brands in the state to increase their market share in 2020.
Based in British Columbia, BevCanna owns the exclusive rights to a pristine spring water aquifer, access to a world-class 40,000-square-foot, HACCP certified manufacturing facility, with a current bottling capacity of up to 210 million bottles a year.
The group also recently acquired US natural health and wellness e-commerce platform Pure Therapy. BevCanna's vision is to be a global leader in infused innovations.
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