Last checked at 12 Oct 2022 08:00
12 October 2022
Chill Brands Group plc
("Chill Brands" or the "Company")
Launch of Dispensary Sales Pilot Programme
Chill Brands Group, the international consumer packaged goods company, is pleased to announce the launch of its CBD products into select cannabis dispensaries as part of a new sales pilot programme.
The pilot scheme will see Chill Brands' products enter an initial 20 fully licensed dispensaries as the Company gathers sales data and customer insights. Additional locations will be onboarded during Q4 2022. Following the completion of this pilot phase, the Company intends to scale its dispensary sales to additional locations across the United States.
During 2021, dispensaries in Colorado alone generated in excess of US $2 billion from sales of cannabis-based products. Consumers that frequent these stores typically have higher levels of discretionary income than convenience store shoppers, are already aware of and interested in cannabinoids including CBD, and are open to trialing new brands and products. They are supported by expert sales personnel known as 'budtenders', who act as cannabis sommeliers to guide consumers towards suitable products.
The programme will be launched in conjunction with Bellator and Dyspense, both Colorado-based sales and retail logistics companies with specific expertise in cannabis products.
Further updates will be provided as the pilot scheme progresses.
Timothy Ruybal Jr., Founder of Dyspense Technologies, commented:
"Dyspense looks forward to the launch of the Chill brand into Colorado dispensaries, where we have seen a steep increase in CBD only product sales over the last 24 month. Chill products provide a unique alternative for tobacco and THC consumers and we look forward to working with the Company to expand its footprint."
Callum Sommerton, Chief Executive Officer of Chill Brands, commented:
"We are excited to be expanding our US retail distribution footprint once more. This pilot programme is an opportunity to diversify the sales venues in which Chill products can be found. As demand for novel, non-psychoactive products continues to grow, we will be well positioned to offer Chill CBD to target consumers both to complement their cannabis purchases and as a non-intoxicating recreational alternative to THC.
We are grateful to our partners at Bellator and Dyspense for their support, and look forward to working with these industry experts as we seek to scale our operations within the dispensary environment."
-ENDS-
About Chill Brands Group
Chill Brands Group plc (LSE: CHLL, OTCQB: CHBRF) is an international company concerned with the development, production, and distribution of best-in-class hemp-derived CBD products, tobacco alternatives and other consumer packaged goods (CPG) products. The Company operates primarily in the US, where its products are distributed online and via some of the nation's most recognisable convenience retail outlets. The Group's strategy is anchored around lifestyle marketing that is designed to enhance the popularity of its products, channelling visitors to its landmark chill.com website.
Publication on website
A copy of this announcement is also available on the Group's website at http://www.chillbrandsgroup.com
Media enquiries:
Chill Brands Group plc | contact@chillbrandsgroup.com |
Allenby Capital Limited (Financial Adviser and Broker) | +44 (0) 20 3328 5656 |
Nick Harriss/Nick Naylor (Corporate Finance) Kelly Gardiner (Equity Sales) |
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