Bhang Inc (CSE: BHNG) is set to begin trading on the Canadian Securities Exchange tomorrow, under the ticker “BHNG”. The cannabis company is a premier brand in the US marketplace, known for its high quality products.
Bhang currently has over a hundred products under its brand name which includes many sub-brands. Products under Bhang’s portfolio feature many formats, including gummies, chocolates, vapes, beverages, mouth sprays, and pre-rolls.
While the company is set to begin trading tomorrow on July 11, 2019, little information has been provided by the company for investors. No filing statement has been uploaded to either Sedar or the Canadian Securities Exchange website as of the time of writing, and no investor presentation is available on the company website.
Bhang currently has licensing deals with a number of partners across North America, including Indiva Inc (TSXV: NDVA), who holds the license to manufacture and distribute products under the Bhang brand within Canada. All products sold within Canada will be utilizing Indiva-grown cannabis, and product formats will consists of chocolates, gums, isolates, oral sprays, and vapes as announced on April 19, 2018.
In California, Origin House (CSE: OH) has obtained the exclusive rights for the Bhang brand for the manufacturing and distribution of cannabis products. Meanwhile, Trulieve Cannabis Corp (CSE: TRUL) owns the rights within the state of Florida.
Commenting on the agreement with Trulieve, Bhang Inc stated “This agreement is part of Bhang’s continued worldwide expansion. The company’s popular products are currently available in California, New Mexico, and Michigan, with Illinois, Canada, and Germany in the process of coming online. Bhang expects to expand into Puerto Rico and more international hubs like Austria, Liechtenstein, and Switzerland through 2019.”
Other operational data available on the company include sales in excess of US$30 million in 2018, as well as products in over 1,000 retail locations around the globe as per the company’s website.
The company will begin trading with 49,112,627 common shares outstanding, and a fully diluted share count of 64,116,224. It is not known what price the equity will debut at.
Bhang Inc is expected to file its listing statement prior to the start of trading tomorrow morning.
Information for this briefing was found via the Canadian Securities Exchange and Bhang Inc. The author has no affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
