Zoetic International PLC - London-based CBD company - Inks distribution deals as part of ramp-up cycle, which it expects to complete in 12 to 15 months. Notes the rollout of its Chill brand of tobacco alternative products has now commenced across the Asian American Trading Associations Council's national convenience store distribution network and its beta-store programme with Ox Distributing LLC is now complete, with the programme allowing it to establish a market fit and drum up appetite for its products.
Also highlights the signing of an agreement with a "prominent" retail partner in the UK, noting the agreement has the potential to facilitate a large-scale rollout across some of the UK's most recognised high street brands. Also says it has signed distribution agreements with the potential to facilitate the distribution of Chill products across 17 European markets.
Separately, Zoetic says Paul Ferguson is now chief financial officer, having been promoted from the role of Vice President - Corporate Finance which he stepped into in November. Notes Ferguson has five years of experience in previous CFO positions, including a private cannabis equipment manufacturer as well as TSX-listed oil-focused exploration & production company Surge Energy.
The company says interviews to fill board positions are ongoing.
Current stock price: 74.00 pence
Year-to-date change: up 5.7%
By Ife Taiwo; ifetaiwo@alliancenews.com
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