Zoetic International makes rapid progress with CBD business

0
10

What the company does

Zoetic International plc (LON:ZOE) is a vertically-integrated cannabinoid (SBD) and hemp business, specialising in seed genetics and cultivation operations through to consumer-facing brands.

Its Chill tobacco-alternative brand, including CBD chew pouches and pre-rolled ‘smokes’, is stocked across the US and with new distribution deals signed in Europe, while Zoetic skincare products are currently focused on the UK.

Following an initial retail distribution and sales agreement for Chill with Schrader Oil’s US-wide chain of convenience stores, gas stations and Ox Distributing network, the Schrader family has built up a 13.3% stake in the business as part of the deal.

 

How it is doing

In January, Zoetic started trading on the OTCQX Best Market, one of the highest level OTC markets in the US, after being upgraded from the OTCQB Venture Market.

The move comes after months of good sales for its Chill products, for which it signed a landmark agreement with the Asian America Trade Association in November so they can be distributed to tens of thousands of retail stores across the US.

AATAC is one of the largest trade associations in the US and represents a majority of the nation’s 154,000 convenience stores.

Chill’s online orders increased by 190% month-on-month in October, which it said gave “strong credence” to the fact that the brand is starting to gain traction.

 

What the boss says: co-CEO Trevor Taylor

“The combination of trading on OTCQX and index inclusion reflect the company’s tremendous progress towards transitioning to a pure-play, integrated CBD company over the past 12 months.”

“Our recent product development and wholesale distribution expansion have set the stage for the first leg of projected multi-year, sustainable growth for the company.  We couldn’t be more pleased with our progress to date, as well as our current position in this high-growth market.”

 

Inflexion points

  • More distribution progress and increased sales of Chill products
  • Sales gain traction in the US
  • Potential progress from new cultivation strategy 

LEAVE A REPLY

Please enter your comment!
Please enter your name here