Sativida is an online retailer in Spain and Mexico, with distribution channels in Spain, Portugal, Austria, Germany, France and the UK
Corp () (OTCMKTS:PEMTF) is expanding its Sativida brand of CBD products throughout Europe, it said Monday.
Sativida is an online retailer in Spain and Mexico, with distribution channels in Spain, Portugal, Austria, Germany, France and the UK.
In a statement, Mota said it was “very confident” it would rapidly acquire customers throughout Europe and the UK.
READ: Mota Ventures moves forward with acquisition of Spanish CBD company Sativida
Mota recently launched its immune support product line and is poised to launch its CBD-based hand sanitizer, both of which will be included in the European expansion plan.
The Vancouver-based company said it plans to follow a similar rollout strategy as it did in the US market, where it recorded nearly 21,000 new customers during the month of March. The company also posted revenue of US$4.3 million over the same month.
CEO Ryan Hoggan told investors that the firm was “excited” to announce the European expansion plan. “As the world economy begins to awaken, now is opportune to utilize what we have accomplished in the United States and implement the same strategies in Europe,” Hoggan said in a statement.
“There are several key market opportunities we have identified in Europe and now is the time to capitalize.”
Mota said that its e-commerce capabilities and the distribution strength and online presence of the Sativida brand will lead to a robust customer base in Europe. The firm is currently sourcing multiple CBD suppliers in the region to build a strong supply chain, it said.
Vancouver-based Mota sells a CBD hemp-oil formulation in the US that is derived from hemp grown and formulated within the country through its Nature’s Exclusive brands. It is looking to acquire additional revenue producing CBD brands and operations in both Europe and North America, with the goal of establishing an international distribution network for CBD products.
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