SAN MATEO, Calif., June 25, 2020 (GLOBE NEWSWIRE) -- Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) (the “Company” or “PLUS”), a cannabis and hemp branded products company in the U.S., today announced the expansion of its recently launched wellness and relief brand, PLUS CBDRelief, with the introduction of a new Pomegranate 1:1 CBD to THC ratio product.
Highlights
- Market research suggests that over one-third of cannabis use occasions are for relieving pain, stress and anxiety.1
- The initial PLUS CBDRelief product line has sold into over 80% of PLUS’s retail distribution network in California since launching earlier this year.2
- The initial brand offerings included two high-CBD, low-THC gummy products specifically formulated for the wellness and relief cannabis user.
The new PLUS CBDRelief 1:1 Pomegranate gummy, with 5mg of THC and 5mg of CBD per serving, is made with real California pomegranates, which contain ellagitannins, unique antioxidants found in pomegranates that are associated with anti-inflammatory pathways.3 The new product joins the initial PLUS CBDRelief lineup, which includes a 9:1 Tropical Mango gummy with 9mg of CBD and 1mg of THC per serving, and an 18:1 Tart Cherry gummy with 18mg of CBD and 1mg of THC per serving.
“Last year we partnered with market structure research firm, HJ Rak & Associates, and found that when consumers used cannabis, over one-third of the time it was to address pain, stress or anxiety,” says Jake Heimark, co-founder and CEO. “We sought to satisfy this consumer need state by launching the PLUS CBDRelief line, which 80% of our California retail distribution network has picked up since its launch earlier this year. After what we believe was a successful rollout, we are excited to expand our wellness and relief portfolio with this new product introduction.”
PLUS CBDRelief products are specifically formulated with blends of CBD and THC to help reduce chronic subclinical inflammation, provide full-body relief and promote a calm state of mind.
“Research suggests that people are looking to cannabis as a holistic tool for relief.1 It’s exciting to leverage rigorous science to formulate great products that enable people to help themselves. Cannabis research is progressing quickly, and we are driving our product portfolio with innovative science and technologies that we believe will support our customers’ health and wellness goals,” noted Dr. Ari Mackler, PLUS’s Chief Scientific Officer.
PLUS CBDRelief 1:1 Pomegranate gummies are expected to be available at licensed retailers across California.
- According to proprietary research conducted through HJ Rak & Associates, a third-party firm contracted by the Company.
- According to PLUS internal sales data, the PLUS CBDRelief brand has sold into licensed retailers representing more than 80% of the Company’s California wholesale business.
- M Ghavipour, G Sotoudeh, E Tavakoli, K Mowla, J Hasanzadeh & Z Mazloom. 2016. Pomegranate extract alleviates disease activity and some blood biomarkers of inflammation and oxidative stress in Rheumatoid Arthritis patients. European Journal of Clinical Nutrition. Accessed June 24, 2020. Volume (71). https://www.nature.com/articles/ejcn2016151
Availability
California THC: PLUS cannabis-infused edibles are currently available in over 360 licensed retailers across the state of California. PLUS CBDRelief cannabis-infused gummies are currently available in over 240 licensed retailers across the state of California.
Nevada THC: PLUS cannabis-infused gummies are currently available in licensed retailers throughout Las Vegas, including all three MedMen locations and Planet 13.
National Hemp CBD: PLUS 100% Hemp CBD-infused gummies are available for purchase in 43 states across the country at plusproducts.com.
About PLUS
PLUS is a hemp and cannabis food company focused on using nature to bring balance to consumers’ lives. PLUS’s mission is to make cannabis safe and approachable – that begins with high-quality products that deliver consistent consumer experiences. PLUS is headquartered in San Mateo, CA.
For further information contact:
Jake Heimark
CEO & Co-founder
ir@plusproducts.com
Investors:
Blake Brennan
Investor Relations
Blake@plusproducts.com
Tel +1 213.282.6987
Media:
Megan Sekkas
Public Relations
megan@sekkas.com
Tel +310.279.6811
The CSE does not accept responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements:
This press release includes statements containing certain “forward-looking information” within the meaning of applicable securities law (each, a “forward-looking statement”). Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur and include, but are not limited to, statements relating to: (i) whether or not the presence of antioxidants within pomegranates used in the product will elicit an anti-inflammatory response; (ii) the extent to which (if at all) the influence of innovative science and technology will facilitate the progression of the PLUS portfolio of products to support its customers’ health and wellness goals; (iii) whether or not the formulation of the PLUS CBDRelief products will help reduce some subclinical inflammation, provide some full-body relief and promote some calm in its customers or at all; (iv) the extent to which PLUS CBDRelief 1:1 Pomegranate gummies will be available at retailers across California.
These forward-looking statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this press release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These risks include, but are not limited to, the success of the Company’s investments, the ability to retain key personnel, the ability to continue investing in infrastructure to support growth, the ability to obtain financing on acceptable terms, the continued quality of the Company’s products, customer experience and retention, the continued development of adult-use sales channels, managements estimation of consumer demand in jurisdictions where the Company exports, expectations of future results and expenses, the availability of additional capital to complete capital projects and facilities improvements, the ability to expand and maintain distribution capabilities, the impact of competition, the ability of the Company to implement initiatives and the possibility for changes in laws, rules, and regulations in the industry. The Company is under no obligation and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/87360f9c-6a95-44aa-8e5a-f7adb3f775cc