SAN MATEO, Calif., Feb. 18, 2020 (GLOBE NEWSWIRE) — Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) (the “Company” or “PLUS”), a cannabis and hemp-branded products company in California, today announced the launch of its new PLUS CBDRelief brand into the California Adult-Use Market.
HighlightsPLUS enters the wellness and relief market segment with a new product launch, alongside the introduction of the PLUS CBDRelief brand.New line-up will initially include two high-CBD, low-THC gummy products specifically formulated for the wellness and relief cannabis-user.Third-party market research suggests over one-third of cannabis use occasions are for relieving pain, stress and anxiety1.The PLUS CBDRelief brand represents a significant extension beyond PLUS’s core brand, which was the largest cannabis-infused gummies brand in California in 2019 and claimed the best-selling cannabis product in the state across all categories over the same period2.“We have seen compelling success with our core brand and are excited to take the next step towards becoming a true portfolio of brands with the launch of PLUS CBDRelief,” said Jake Heimark, Co-founder and CEO.“Last year we partnered with market structure research firm, HJR Associates, and found that when consumers used cannabis, over one-third of the time it was to address pain, stress or anxiety,” stated Mr. Heimark. “This represents a massive market that appears, thus far, to have been underserved. We believe there are almost no edibles products in California designed to meet the needs of these consumers, and we’re excited to introduce products formulated specifically for that purpose.”The two new products include a PLUS CBDRelief 9:1 Tropical Mango with 9mg of CBD and 1mg of THC per serving, and a PLUS CBDRelief 18:1 Tart Cherry with 18 mg of CBD and 1 mg of THC per serving. Specifically formulated to help reduce chronic subclinical inflammation, provide full-body relief and promote a calm state of mind, the proprietary blends mix high quality CBD and THC to provide powerful relief. The PLUS CBDRelief product line will deliver the highest cannabinoid content per package among gummies in the California marketplace3, while also enabling precision dosing that is difficult to achieve with other form factors like tinctures.“Research suggests that people are looking to cannabis as a holistic tool for relief4. It’s exciting to leverage rigorous science to formulate great products that enable people to help themselves. Research on cannabis is progressing quickly and we are driving our portfolio of products with innovative science and technologies that will support our customers’ health and wellness goals,” noted Dr. Ari Mackler, PLUS’s Chief Scientific Officer.PLUS CBDRelief products are expected to be sold in licensed retailers across California.(1) According to proprietary research conducted through HJR Associates, a third-party firm contracted by the Company
(2) According to BDS Analytics GreenEdge Platform
(3) According to BDS Analytics GreenEdge Platform
(4) According to proprietary research conducted through HJR Associates, a third-party firm contracted by the Company AvailabilityCalifornia THC: PLUS cannabis-infused edibles are currently available in over 360 licensed retailers across the state of California. PLUS CBDRelief cannabis-infused gummies are expected to roll-out across the state in coming weeks.Nevada THC: PLUS cannabis-infused gummies are currently available in over 30 Nevada licensed retailers, including all three MedMen locations and Planet 13.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 PLUSPLUS 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.
For further information contact:Jake Heimark
CEO & Co-founder
[email protected]
Investors:Blake Brennan
Investor Relations
[email protected]
Tel +1 213.282.6987Media:Megan Sekkas
Public Relations
[email protected]
Tel +310.279.6811The CSE does not accept responsibility for the adequacy or accuracy of this release.Forward-Looking Statements:This press release includes statements containing certain “forward-looking information” within the meaning of applicable securities law (each, a “forward-looking statement”). Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur and include, but are not limited to, statements relating to: (i) whether or not PLUS will achieve its objective of becoming a true portfolio of brands, and to what extent the launch of PLUS CBDRelief products will help PLUS achieve this objective (if at all); (ii) the extent to which (if at all) the influence of innovative science and technology will facilitate the progression of the PLUS portfolio of products to support its customers’ health and wellness goals; (iii) whether or not the formulation of the PLUS CBDRelief products will help reduce some subclinical inflammation, provide some full-body relief and promote some calm in its customers or at all; and (iv) whether or not PLUS CBDRelief cannabis-infused gummies will be rolled-out across California in coming weeks or at all.These forward-looking statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this press release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These risks include, but are not limited to, the success of the Company’s investments, the ability to retain key personnel, the ability to continue investing in infrastructure to support growth, the ability to obtain financing on acceptable terms, the continued quality of the Company’s products, customer experience and retention, the continued development of adult-use sales channels, managements estimation of consumer demand in in jurisdictions where the Company exports, expectations of future results and expenses, the availability of additional capital to complete capital projects and facilities improvements, the ability to expand and maintain distribution capabilities, the impact of competition, the ability of the Company to implement initiatives and the possibility for changes in laws, rules, and regulations in the industry. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a3d8ea8e-058d-4dac-81b9-5cb0bea5433d
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