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Be the first with the news that moves the market- Indiva Limited (TSXV:NDVA) has received approval from Health Canada to add 10,000 square feet to its London, Ontario-based facility
- The approval will increase production capacity for the company’s Bhang Chocolate, Wana Sour Gummies, and other product ranges
- Indiva’s Bhang Chocolate products hit store shelves on February 8 this year, and have been performing exceptionally well
- The company’s Wana Sour Gummies will be available in Canada later this year
- Indiva Limited (NDVA) is up 2.27 per cent to C$0.22 per share, with a market cap of $18.81 million
Indiva Limited (TSXV:NDVA) has received approval from Health Canada to add 10,000 square feet to its London, Ontario-based facility.
The company operates a portfolio of cannabis brands, producing a wide range of products including premium pre-rolls, edibles and oils. Indiva also offers manufacturing and refinement services to third party cannabis companies.
With its successfully amended license, Indiva will add extra space to step up production of its various product lines. The company also said that the space may be used to begin extraction operations.
One of the company’s most successful product lines is its Bhang Chocolate. The edibles first hit Ontarian store shelves on February 8 this year. Within days, the milk and dark chocolate products held the top two places in terms of sales in the province.
Since then, Bhang Chocolate has also become a favourite in Alberta, Saskatchewan, and Nova Scotia.
In 2020’s second quarter, Indiva expects to expand the Bhang line of products into British Columbia “and beyond.”
Indiva’s President and CEO, Niel Marotta, said that the company’s success is due to a hardworking team and premium quality products.
“We expect to enter new markets and deliver new, innovative products that already have significant market share in mature markets south of the border.
“Our partnerships with proven, trusted brands help us deliver just that. We cannot wait to share our next great product with consumers – Wana Sour Gummies,” he added.
With flavours like strawberry lemonade, pomegranate, blueberry, acai, and watermelon, Wana Sour Gummies will launch in Canada later this year.
The gummies come in both CBD and THC formulations, and are already well established in the US. According to a BDS Analytics’ 2019 Brand Share Report, Wana Brands is the leading edible producer in the US, with more dollars sold than any other brand.
Indiva Limited (NDVA) is currently up 2.27 per cent to C$0.22 per share at 12:48pm EST.
