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Bhang Inc (OTCMKTS: BHNGF) recently announced to have entered into an Amended License Agreement with Indiva Limited, a licensed Canadian producer for quality and innovative range of cannabis products. This Agreement was inked through the company’s operating subsidiary Bhang Corporation. Bhang has initially interested in the Joint Venture Agreement with Indiva in April 2018, which now stands terminated.
The new Agreement entitles Indiva for the exclusive manufacturing and distribution rights of selected Bhang THC-infused chocolate products in Canada. It also entitles Indiva to the non-exclusive right for the international exports of these products. In addition, this Agreement entitles Bhang to an upfront licensing fee and a royalty on net sales revenue.
Comments from the leadership
Bhang’s President and CEO, Jamie L. Pearson, mentioned that the Amended License Agreement with Indiva has solidified our joint operational ability and expressed that it will be a true win-win for both companies. Pearson further added that the partnership with Indiva has helped establish Bhang as Canada’s top edible brand since the company’s launch in Canada six months ago.
Niel Marotta, President, and CEO of Indiva, also expressed that his team is looking forward to work with