24 Nov 2020 07:00
Prior to publication, the information contained within this announcement was deemed by the Company to constitute inside information for the purposes of Article 7 under the Market Abuse Regulation (EU) No. 596/2014 ("MAR"). With the publication of this announcement, this information is now considered to be in the public domain.
24 November 2020
Zoetic International plc
("Zoetic" or the "Company" or the "Group")
Company reaches landmark agreement to distribute products across tens of thousands of US retail stores
Zoetic International PLC (LSE: ZOE), the London-listed international CBD company, is pleased to announce that it has struck a landmark agreement (the "Agreement") with the Asian American Trade Associations Council ("AATAC") that will bring its Chill brand of tobacco-substitute CBD products into tens of thousands of retail stores across the US.
This transformational deal will facilitate the introduction and recommendation of the Company and its products to over 88,000 AATAC partners and will pave the way for the Company's Chill brand to be sold from eye-catching new point of sale display stands at high footfall convenience stores, gas stations and corner stores in all US states.
Convenience stores have proven to be a critical feature in Zoetic's distribution strategy for its Chill branded products, and this partnership with AATAC positions the Company well to increase their availability within the market at a speed and scale that could not be achieved without the support of a pre-eminent relationship with thousands of stores throughout the US. The Company have been in discussions with AATAC for some time (see the announcements of 5 February 2020 and 1 June 2020), and the Agreement is the culmination of significant work.
In preparation for the fast-approaching roll out to this huge distribution network, Zoetic is working closely with its partners to ensure that it is prepared for mass production without accepting any compromise to the demonstrably high quality of its products. The Company looks forward to releasing further details regarding these developments in due course and is poised and ready to rise to the challenge of the burgeoning demand for its range.
Trevor Taylor, Co-CEO of Zoetic, commented, "This game-changing partnership represents a real watershed moment for Zoetic. With a reach across tens of thousands of retail outlets, the Company will have unprecedented access to the market and can continue on its mission to bring the Chill brand to the local stores and pockets of every consumer."
Antonio Russo, Co-CEO of Zoetic, commented, "We could not be more pleased to have reached an agreement with the AATAC, and look forward to building ever closer relationships with the Association and its affiliates. Convenience store outlets reach more Americans each day than grocery, drugstore, dollar store and big box locations combined. Businesses within the lifestyle consumables field have experienced outstanding success through similar deals with the AATAC, and this agreement provides the Chill brand with an unparalleled route to the market."
About the AATAC
The AATAC is one of the largest trade associations in the US, spanning over 88,000 locations and representing a majority of the nation's 154,000 convenience stores. The organisation connects its members to a select network of suppliers, granting them access to the highest quality products and providing specialist training to ensure that they can market and sell goods as effectively as possible. With affiliates situated throughout the US and Puerto Rico, the AATAC brings together the world's brightest and best brands which are then sold in busy stores that include (amongst others) BP, 76, 7-Eleven, Gulf, and Chevron branded outlets.
Enquiries
Zoetic International plc
c/o IFC Advisory
Trevor Taylor, Co-CEO
Allenby Capital Limited (Financial Adviser and Broker)
+44 (0) 20 3328 5656
Nick Harriss (Corporate Finance)
Nick Naylor (Corporate Finance)
Guy McDougall (Equity Sales)
IFC Advisory Ltd (Financial PR and IR)
+44 (0) 20 3934 6630
Tim Metcalfe
Graham Herring
Florence Chandler