- Private
placement closed at $1.8 million, higher than the initial target of $1.75
million
- Proceeds
will be used to develop and enhance Wildflower’s manufacturing capability
in Washington State; this development will give the company a better
chance to address the growing market demand for its products
- Over
the years, Wildflower has established a solid distribution network across
the U.S., and the company also registered significant growth through its
direct-to-consumer online store
Vancouver-based cannabis company Wildflower Brands Inc. (CSE: SUN) (OTCQB: WLDFF) recently
announced that it has closed a previously detailed placement of units at a
price of C$0.54 per unit. A unit consists of one common share and a half of one
share purchase warrant. The placement was closed with aggregate proceeds of up
to $1,882,000 – higher than the initially announced target of $1.75
million (http://ibn.fm/JIYMM).
All the proceeds of the financing will be used to build and
enhance the company’s manufacturing capability in Washington State so as to
meet an increasing demand for Wildflower products, as well as offering general
working capital.
Wildflower Brands Inc. is a public cannabis company that
develops plant-based wellness and health products. The company markets its full
spectrum CBD oil developments to retailers throughout the U.S. and in other
legal cannabis markets.
Currently, the U.S. Wildflower distribution network consists
of over 200 retailers in Washington State and over 20 retailers in New York
City. In addition, the company has partnered up with Retail Worx for the
setting up of shop-in-shop retail locations in the heart of NYC and San
Francisco. The distribution model also includes over 80 wellness and health
care practitioners throughout the U.S.
The Wildflower product development and business growth model
is holistic. The company’s operational model encompasses nearly every stage of
product creation – research, development, manufacturing, distribution,
marketing and retail.
Some of the most prominent brands under the Wildflower
umbrella include:
- Wildflower
Wellness – provides CBD vaporizers, capsules, tinctures, soaps
and topical products
- King
Extracts – a California-based company that focuses on cannabis
technology and delivery systems
- Exclusive –
a high-quality cannabis product dispensary in Los Angeles, California
Wildflower holds 14 cannabis licenses that cover both
medicinal and recreational cultivation and manufacturing in California and Los
Angeles. Upon activation of these licenses, Wildflower will have an opportunity
to drive significant additional revenue with very little risk.
In December 2018, the company started an on-demand cannabis
delivery service to adult consumers in the Los Angeles area. To ensure
effective deliveries, Wildflower partnered up with Eaze.com. The partnership
also facilitates effective inventory management and compliance with all
California laws pertaining to legal and licensed cannabis delivery.
A final noteworthy development is the growth of the
direct-to-consumer Windflower online store. In 2018, the store registered
notable growth in organic demand. Recently, Wildflower announced an increase in
online sales of 300 percent and annualized revenues exceeding $1 million for
online sales since January 2018. These figures coincide with the platform’s
ninth consecutive quarter of growth.
For more information, visit the company’s website at www.WildflowerBrands.co
NOTE TO INVESTORS: The latest news and updates
relating to WLDFF are available in the company’s newsroom at http://ibn.fm/WLDFF
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Editor@QualityStocks.com
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
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