Plus Products Announces Transition to HERBL Distribution Solutions as its Primary California Distribution Partner, Along with the Termination of Distribution Relationship with Calyx Brands Inc.
SAN MATEO, Calif., Dec. 11, 2019 (GLOBE NEWSWIRE) — Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) (the “Company” or “PLUS”), a cannabis branded products company in the U.S., today announced the transition of its primary California distribution partner from Calyx Brands Inc. (“Calyx”) to HERBL Distribution Solutions (“HERBL”) for the Company’s best-selling cannabis products.
Highlights
- PLUS products are currently available in 360 licensed retailers in California
- HERBL distributes to more than 600 licensed retailers in California
- PLUS has an internal sales team of fifteen individuals who have been working closely with HERBL and retailers to make the transition a success
After an extensive review of the major California cannabis distributors, we determined that HERBL was best positioned to scale with PLUS and reliably deliver product to retailers at the lowest cost.
Jake Heimark, Co-founder & CEO of PLUS
One of our goals at PLUS is to put our products on every shelf at an affordable price, and we believe HERBL is the perfect partner to help us reach that goal. Their substantial market reach and world class management team give us confidence that they will help PLUS further solidify our position as the largest cannabis-infused gummies brand in California.¹
HERBL is a leader in the California market with active distribution to over 600 licensed retailers across the state, 240 more locations than the 360 licensed retailers in which PLUS cannabis-infused edibles are available today.
PLUS has an internal sales team of fifteen individuals working directly with HERBL’s team to ensure a quick and efficient transition for the Company’s current retail partners, and to open new accounts moving forward.
PLUS, as a part of this transition, has entered into a settlement agreement with Calyx dated December 9, 2019, which addresses, among other things, the termination of the distribution arrangement between the two parties. In accordance with the terms of the settlement agreement, the Company has arranged with HERBL to take responsibility for distributing the Company’s branded products inventory currently held by Calyx. Additionally, a qualified third party will assist in the collection of a portion of outstanding accounts receivable associated with the sales of PLUS branded products by Calyx. PLUS has also agreed to forbear any claims against Calyx and its parent company, Nutritional High, through June 5, 2020.
¹Year-to-Date According to BDS Analytics GreenEdge Platform in 2019
Availability
California THC: PLUS cannabis-infused edibles are currently available in 360 licensed retailers across the state of California.
Nevada THC: PLUS cannabis-infused gummies are currently available in 30 Nevada dispensaries, including all three MedMen locations and Planet 13. They are expected to be rolled out to more dispensaries across Nevada in the coming weeks.
National Hemp CBD: PLUS recently launched a line of 100% Hemp CBD-infused gummies. They are available for purchase in 43 states across the country at plusproducts.com.
About PLUS
PLUS is a hemp and cannabis food company focused on using nature to bring balance to consumers’ lives. PLUS’s mission is to make cannabis safe and approachable – that begins with high-quality products that deliver consistent consumer experiences. PLUS is headquartered in San Mateo, CA and has 80 employees.
About HERBL
Founded in 2016, HERBL provides distribution solutions to the cannabis industry with the use of innovative technology, state of the art climate-controlled facilities, high security climate-controlled trucks, and sales/marketing professionals. Currently servicing over 600 dispensaries throughout California, they are supply chain experts, guided by a proven team with extensive experience in world class distribution. The company has multiple licenses and locations across the state of California. To learn more about HERBL, visit www.HERBL.com.
For further information contact:
Jake Heimark
CEO & Co-founder
ir@plusproducts.com
Investors:
Blake Brennan
Head of Investor Relations
Blake@plusproducts.com
Tel +1 213.282.6987
Media:
Bill Harrison
Third Street Media Group
bill@thirdstreetmediagroup.com
Tel +1 213.712.8811
