Mon, 1st Apr 2019 07:00
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1 April 2019
Highlands Natural Resources plc ('Highlands' or 'the Company')
First Retail Sale Agreement - Zoetic Organics
Highlands, the London-listed natural resources company, is pleased to announce that its wholly-owned subsidiary Zoetic Organics has signed its first retail distribution and sale agreement, marking the beginning of on-site retail sales of its CBD products.
Zoetic Organics has entered into an initial 2-year distribution and sale agreement with Schrader Oil and Ox Distributing which collectively manages a wide network of convenience and gas stores and convenience store distribution services across the United States.
Zoetic branded pre-rolled CBD smokables, ready-rolls and CBD chew pouches will initially be distributed to and sold in 18 Schrader Oil convenience and gas stores. The parties also continue to work towards expanding their operations to both additional Schrader Oil and Ox Distributing affiliated stores and other third-party convenience stores.
This represents the first line of retail products that Zoetic aims to launch this year. Four different natural flavoured and CBD infused herbal smokables, ready-rolls and CBD pouches are targeted for both regular CBD consumers and those who are seeking to transition away from tobacco products.
Zoetic aims to deliver its first batch of CBD smokables and ready-rolls into the stores by the beginning of May and its CBD chew pouches by June. Pending the Company's own first crop this summer, the supplies needed for these initial products are sourced from an organic hemp farmer in the State of Colorado.
Zoetic expects this sale agreement to represent the first step of its plans to be a supplier of variety of CBD products in the State of Colorado and, in time, across the United States and internationally.
Highlands is also pleased to announce that it has now secured the lease of the growing operation and appointed a management team for Zoetic Organics, as described in its announcement of 19 March.
Robert Price, Executive Chairman and CEO of Highlands, said: "This is a significant development for Highlands as not only does it accelerate our predicted revenues from Zoetic Organics ahead of our own first harvest but it also provides us with an early opportunity to establish the Zoetic brand."
For further information:
Highlands Natural Resources plc
Robert Price +1 (0) 303 322 1066
Cantor Fitzgerald Europe
Nick Tulloch +44 (0) 20 7894 7000
Fiona Norman +44 (0) 20 3757 6880