Fueled by strong demand, Mota is launching a 70% ethyl alcohol hand sanitizer containing CBD on May 1 for US customers
Corp () (OTCPINK:PEMTF) has revealed that it snapped up a record number of new customers in the period from April 1-April 23, with an interim total of 14,388 new customers acquired for its Nature's Exclusive brand.
The Vancouver-based company also reported that each new customer spent an average of US$151.96 in the period and that 1,748 new customers bought immune-support products, making it a very popular category. The group said the interim number will be updated soon to give the final tally for the full month of April.
READ: Mota Ventures receives DTC eligibility to simplify US share trading process
Mota said there was “strong demand” for natural health solutions in the month and, as a result, the company will be launching a hand sanitizer containing CBD through its Nature's Exclusive brand on May 1.
The group said the hand sanitizer will contain 70% ethyl alcohol as its active ingredient, as well as CBD isolate and Vitamin E, and will initially be offered only to consumers in the United States.
Mota said the hand sanitizer would stand out in the crowded space, as it combined the “antimicrobial properties of ethyl alcohol” with the benefits of CBD. The company said its ability to formulate new products of this “caliber is a direct result of our strong supply chain, which has continued to operate uninterrupted” despite the coronavirus (COVID-19) pandemic.
"I am very pleased with the continued strength of our new customer acquisition month-to-date as demand remains strong for our CBD and immune products,” CEO Ryan Hoggan said in a statement.
“We anticipate similar demand for our new CBD Hand Sanitizer product due to the limited availability of sanitizers through current retail and ecommerce channels. This product offering will allow us to reach a new client base, while generating significant gross margin and attracting clients to our other product lines," he added.
Mota Ventures provides a wide range of CBD products in the US and Europe sold directly to consumers through ecommerce sites.
The group also said it will be hosting an investor conference call at 2:15pm PST on April 27 with its CEO Hoggan, and its president Joel Shacker. The two will field questions from investors at the end of the call. Investors in Canada and the US can participate in the conference by dialing 1-800-319-4610, while international investors can dial +1-604-638-5340 and investors in Germany can dial 0800-180-1954..
Contact the author Uttara Choudhury at [email protected]om
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