Record Market Share Map

Indiva Reports Record Market Share for February 2021


LONDON, Ontario – March 11, 2021: Indiva Limited (the “Company” or “Indiva”) (TSXV:NDVA) (OTCQX:NDVAF), the leading Canadian producer of cannabis edibles, is pleased to announce record market share for the month of February.  Indiva’s edible products continue to lead, as demonstrated by strong sell through data from Hifyre IQ (“Hifyre”), and data from the Ontario Cannabis Store (“OCS”), for the month of February.

Estimated market share across the three largest markets of British Columbia, Alberta, and Ontario expanded to 45% share of sales in February from 44% in January, further increasing Indiva’s lead in the #1 market share position in the edibles category:

  • Ontario #1 with 45% market share, up from 43%. Note: OCS data put Indiva market share in the Edibles category at 44.86% for February, up from 41.5% in January.
  • Alberta #1 with 49% market share, an improvement from 45% in January.
  • British Columbia #1 with 47% market share, an increase from 46% in January.
  • Manitoba #1 with estimated 49% market share, an improvement from 46% in January.
  • Yukon #1 with 58% market share, up from 55% in January.
  • Saskatchewan market share rebounded to 20% in the month of February as the Company continued its transition away from the current wholesale/distribution partner to direct-to- store sales.
  • As of March 2021, Indiva edible products are available in eight provinces and two territories.
  • Wana™ Sour Gummies led the edibles category and gummie sub-category, with 31% market share overall in edibles across the three largest provinces, a sequential monthly increase in market share of 2%.
  • Bhang® continued to lead the chocolate category, with Bhang® Milk Chocolate remaining the top selling chocolate edible SKU nationally.
  • In February, SKU rankings across British Columbia, Alberta, Ontario and Saskatchewan show that the top five products are Wana Sour Gummies, and seven of the top 10 ranking edible SKUs are produced by Indiva.
  • According to OCS data reported for the quarter ended December 31, 2020, Wana and Bhang were the #1 and #2 brands by market share in the edibles category at retail stores in Ontario, at 22% and 16% respectively.
  • Based on Hifyre data from British Columbia, Alberta, Ontario and Saskatchewan, the edibles category improved in February 2021 to $8.7 million in retail sales versus $3.1 million in February 2020, and $8.3 million in January 2021. Edible category sales from this Hifyre data set peaked at a record $10.2 million in December 2020.  Turning to OCS data, the edibles category in Ontario grew to $2.46 million in February versus $1.1 million in February 2020, and $2.09 million in January 2021.  Edible category sales at the OCS peaked at a record $3.11 million in December 2020.

“We are delighted with the continued strength, and improvement, in Indiva’s market share and SKU rankings in the edibles category,” said Niel Marotta, President and Chief Executive Officer of Indiva. “With three new Wana Quick gummie SKUs hitting the market this month, and new product introductions planned for 2021, Indiva is poised to continue to grow, and provide of-age Canadian consumers with best-in-class edible products.”

 

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 policies 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® Jewels Chewable Tablets, 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]

 

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.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.

 

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