Indiva Announces Extension to License Agreement with Award-Winning Wana Brands Inc.
LONDON, Ontario – February 18, 2021: Indiva Limited (the “Company” or “Indiva”) (TSXV:NDVA) (OTCQX:NDVAF), the leading Canadian producer of cannabis edibles, is pleased to announce an amendment and extension to its license agreement with Wana Brands (“Wana”) Inc.
Under the terms of the amendment to the license agreement, Indiva will continue to have the exclusive right to produce and distribute Wana products, including gummies and soft chews, in Canada. The amended agreement shall be for a five year term, and may be extended for three additional five year terms.
As previously announced in the press release dated February 9, 2021, Wana™ Sour Gummies continue to be the most popular edible product in the Canadian cannabis industry. Wana™ Sour Gummies hold the top three edible SKUs in the country, and on their own account for greater than 30% of the edible category. Adding to their many awards, Wana™ Sour Gummies were voted Top Edible in Canada for the year 2020 by Kind Magazine. Wana has the largest footprint of any cannabis-infused edibles brand in North America. Currently available in Arizona, California, Colorado, Florida, Illinois, Maryland, Michigan, Missouri, Ohio, Oregon and Oklahoma dispensaries, with Massachusetts among the states imminently coming online, Indiva is Wana’s first international partner.
“We could not be happier to extend the contract length of our agreement with Wana, and establish a framework under which Indiva will continue to provide the top selling edible products in Canada to provincial wholesalers and of-age consumers for decades to come,” said Niel Marotta, President and Chief Executive Officer of Indiva. “The results from working with Wana and their team, and the success of Wana products in Canada, have exceeded even our own high expectations, and we look forward to continuing this strong relationship.”
“Indiva’s focus on infused product manufacturing–and specifically edibles–was incredibly attractive to us as we were seeking our first international partner. That expertise has resulted in Wana’s proven and sustained success in Canada,” said Nancy Whiteman, CEO of Wana Brands. “Wana leverages a decade of cannabinoid expertise and recipe refinement to deliver one of the most delicious, consistent and effective cannabis infused products available in Canada. We look forward to being able to provide Wana products to even more Canadian customers through our growing partnership with Indiva.”
COVID-19
Government and private entities are still assessing the present and future effects of the COVID-19 pandemic. Indiva has continued to operate with enhanced health and safety protocols in place to protect its employees. The Company continues to assess the customer, supply chain, and staffing implications of COVID-19 and is committed to making continuous adjustments to minimize disruption and impact. Indiva will remain proactive in its response to the pandemic and compliant with any and all provincial and/or federal policy enacted to protect Canadians.
About Indiva
Indiva sets the standard for quality and innovation in cannabis. As a Canadian licensed producer, Indiva creates premium pre-rolls, flower, capsules, and edible products and provides production and manufacturing services to peer entities. In Canada, Indiva produces and distributes the award-winning Bhang® Chocolate, Wana™ Sour Gummies, Ruby® Cannabis Sugar, Sapphire™ Cannabis Salt, Artisan Batch, and other Powered by INDIVA™ products through license agreements and partnerships. Click here to connect with Indiva on LinkedIn, Instagram, Twitter and Facebook, and here to find more information on the Company and its products.
Contacts
Investor Contact
Anthony Simone
Phone: 416-881-5154
Email: [email protected]
About Wana
Wana Brands: Enhance Your Life.
Included in the 2020 Inc. 5000 list at #2,074 and boasting a three-year growth rate of 203%, Wana Brands is the No. 1 edibles brand in North America. Wana leads the industry in quality, consistency and potency, providing a range of different options that enable customers to create the specific cannabis experience they want. Wana products offer diverse product forms, four different CBD/THC ratios as well as a variety of different dosages, onset times and duration of effects. The portfolio is designed so products can be used singly or in combination to address specific health, wellness, and recreational needs. Wana products are available in California, Colorado, Florida, Illinois, Maryland, Michigan, Missouri, Ohio, Arizona, Oregon and Oklahoma dispensaries, with Massachusetts among the states imminently coming online. Wana Brands is available internationally in Canada. For more information or to subscribe to Wana’s e-newsletter, visit www.wanabrands.com. Follow Wana on LinkedIn, Twitter, YouTube and Pinterest. Subscribe to Wana’s Enhance Your Life Podcast.
Press Contact:
Shawna McGregor
Phone: 917-971-7852
Email: [email protected]
Disclaimer and Reader Advisory
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has in any way passed upon the merits of the contents of this press release and neither of the foregoing entities accepts responsibility for the adequacy or accuracy of this release or has in any way approved or disapproved of the contents of this press release.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the parties’ current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the Company’s future operations, future product offerings and compliance with applicable regulations. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the parties. The material factors and assumptions include the parties being able to maintain the necessary regulatory and other third parties’ approvals and licensing and other risks associated with regulated entities in the cannabis industry. The forward-looking information contained in this release is made as of the date hereof and the parties are not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
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