Cannabis edible company known for its chocolates Bhang Corporation (CSE: BHNG) began trading on the Canadian Securities Exchange as Bhang Inc. under the stock symbol “BHNG” on July 11, 2019.
“We’re proud to announce this major milestone for Bhang and the industry, as we see a national cannabis brand begin trading on the CSE. This public listing fuels our strategy to meet the growing demand for today’s most innovative cannabis products,” Scott Van Rixel, CEO of Bhang, said. “While our model is not reliant upon accessing the capital markets, our going public transaction will allow us to evaluate new opportunities to accelerate our growth, build our industry-leading house of brands and increase shareholder value.”
Bhang Expanding as a “House of Brands”
Founded in 2010, Bhang has continued to build on its award-winning edibles product line and today has an expansive portfolio of over 100 cannabis, hemp-derived cannabidiol (CBD) and terpene products. International distribution and expansion to more geographies is anticipated in 2019. Bhang also has a robust pipeline of new products ready to be launched in the next 12 months as it builds a powerful “House of Brands.”
Bhang Listed The Following Company Highlights:
- Bhang is one of the first and most recognized, diversified and established brands in cannabis having won over 30 awards including one of the most awarded cannabis chocolate bars in the world.
- The existing Bhang brand will serve as the foundation for the Company’s “House of Brands” vertical expansion program, which includes a full suite of THC, hemp-derived CBD, and terpene products, and a CBD brokerage. All of this is driven by Bhang’s product quality, leadership, innovation and longevity which will continue to drive trust in the marketplace.
- Bhang’s expansive product portfolio combined with its well-established distribution and licensing network position Bhang to capture significant market share across multiple target demographics. Some of the large target markets currently addressed with the Company’s eight active brands and 100-plus products include: the cannabis and hemp-derived CBD market, the performance-athletics market, and the nicotine-cessation market. The Company will be launching eight more brands with new products over the coming months that will address several larger and underserved end-markets as well.
- Bhang’s soon-to-be introduced terpene products will enable Bhang to gain valuable, retail shelf space and leverage the sales pipeline for other products when regulations permit.
- Bhang has top-tier manufacturing/distribution partnerships with Trulieve in Florida, Origin House/Cresco in California, and a 50/50 joint-venture with Indiva for Canadian and select worldwide distribution. Vertically-integrated operators’ decisions to partner with Bhang is yet another indication of the strength of the Bhang brand and the quality of the products. In total, there are currently over 1,000 stores selling Bhang’s brands and this number is expected to exceed 2,000 by the end of the year.
- Bhang’s unique low CAPEX/OPEX business model provides multiple revenue stream opportunities including license revenues, wholesale revenues, direct to consumer revenues through bhangcbd.com, and revenues from its CBD brokerage business.
- Bhang leverages its long-term cannabis industry relationships via its CBD brokerage business, helps satisfy some of the tremendous demand for CBD that currently exists and, in the process, reduces its input costs via the large volume purchase discounts it receives.
- Bhang is opportunistically evaluating M&A growth opportunities and joint ventures with top manufacturers and leaders in their respective consumer segments.
- Bhang has carefully assembled a management team that can carry out the Company’s strategy. The team possesses a combination of experience in the CPG/alcohol/retail sector as well as deep cannabis expertise, making the senior team uniquely positioned to execute on this growing opportunity.