Plus Products Inc. (CSE: PLUS) (OTCQB: PLPRF) Signs Partnership Agreement, Expands into Nevada

June 7, 2019 09:54:59
  • PLUS recently entered into a definitive partnership agreement with TapRoot Holdings Inc.
  • As PLUS expands beyond its home market of California, it wants to ensure that its product remains consistent
  • TapRoot offers Nevada licenses and industry knowledge, enabling rapid deployment into new markets

Plus Products Inc. (CSE: PLUS) (OTCQB: PLPRF), a manufacturer and marketer of cannabis food products, has expanded beyond its home market of California. The company has entered into a definitive partnership agreement with TapRoot Holdings Inc., which holds seven retail licenses in Nevada and has a deep understanding of the Nevada market (http://nnw.fm/Ti5I0).

PLUS entered Nevada with the recent debut of its low-dose mints in dispensaries. PLUS said that it hopes to replicate in Nevada the success it’s achieved in California. In California, PLUS sold more than one million units in 2018, earning the distinction of having the two best-selling cannabis offerings among over 20,000 products (http://nnw.fm/vGl0C).

BDS Analytics retail sales data reported that PLUS product lines made up the top cannabis-infused edibles brand in California retail sales and units sold in Q3 and Q4 of 2018 (http://nnw.fm/Fp56m). BDS Analytics added that PLUS is the number one cannabis gummies brand in California, with a 25 percent market share in 2019 YTD (http://nnw.fm/Ti5I0).

“As we look to expand beyond California, we remain committed to producing a consistent product in all jurisdictions,” PLUS co-founder and CEO Jake Heimark stated in a news release (http://nnw.fm/Ti5I0). “We want the PLUS customer to have the same experience with our products whether they buy it in LA or in Las Vegas… Partnering with the TapRoot team will let us realize that goal, and we are confident they are the right team to spearhead our expansion in Nevada.”

As PLUS expands outside of California, TapRoot will serve as the manufacturing operations partner to ensure that product consistency and quality is maintained across markets.

TapRoot is a vertically integrated cannabis company operating cultivation and manufacturing facilities in Las Vegas, Nevada. The company has extraction facilities to produce premium cannabis oils. The partnership agreement calls for PLUS to participate economically in a revenue-sharing model. TapRoot has seven of the 61 retail licenses issued by Nevada in December 2018. PLUS believes that TapRoot has a “deep understanding” of the Nevada market and will enable PLUS to rapidly deploy into new markets (http://nnw.fm/Ti5I0).

San Mateo, California-based PLUS is a cannabis-infused branded products manufacturer selling to regulated medicinal and adult-use recreational markets in California and Nevada. PLUS is focused on building the largest cannabis brand by growing organically and through acquisitions.

For more information, visit the company’s website at www.PlusProducts.com

NOTE TO INVESTORS: The latest news and updates relating to PLPRF are available in the company’s newsroom at http://nnw.fm/PLPRF

About NetworkNewsWire

NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

To receive instant SMS alerts, text STOCKS to 77948

For more information please visit https://www.NetworkNewsWire.com

Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer

NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
[email protected]