Cannabis Edibles Drive Indiva Q1 Above $2 Million

  • PRELIMINARY Q1 FISCAL 2020 HIGHLIGHTS Sales, net of excise, for the quarter are expected to be in the range of $2.0 to $2.2 million versus $0.2 million in Q1 2019 and $0.3 million in Q4 2019 reflecting robust sales of Bhang Chocolate and growing distribution to four additional provinces.
  • Indiva brought new products to market just eight days after the Company received its edibles, extracts and topicals sales licence.
  • On January 20, 2020, Indiva closed the final tranche of its unsecured convertible debenture offering and on January 31, 2020, the Company announced that it had raised an additional $1.5 million in unsecured convertible debentures with W. Brett Wilson.
  • On January 31, 2020, Indiva received its edibles, extracts and topicals sales licence from Health Canada.
  • On March 31, 2020, Indiva announced that it had received its final licence amendment for its phase four expansion.

Read full article: