Expansion Updates That Fuel Wildflower's Growth Strategy
VANCOUVER, British Columbia, June 5, 2018: Wildflower Brands Inc. (CSE: SUN) (the “Company”) is continuing the integration of its recently acquired California licenses into its existing business. Work is well underway to construct manufacturing facilities in order that we may launch the full line up of Wildflower products into the California regulated market. Further, construction is almost complete on our distribution center in order to activate our distribution license. This will permit the Company to distribute third party products into the City of Los Angeles. As of July 1, all growers and manufacturers will have to distribute their products into Los Angeles through one of 25 distribution licenses. Retail sales continue to grow as the number of illegal dispensaries goes down. In LA last week 32 illegal shops were closed and 142 people charged with criminal offenses. Sales are expected to grow significantly once all illegal operations are shuttered.
Online sales have grown over 50% in the last 2 months as Wildflower launched its new e-commerce focused website at https://buywildflower.com. According to Shopify, Wildflower is in their top 4% in growth of companies launching their e-commerce sites at the same time as Wildflower.
In Washington, Wildflower is about to move into a newly built building where production will be substantially expanded. With the growth of online sales and the ongoing increases in the number of retailers in Washington growing to 128 and 49 retailers in other parts of the US carrying Wildflower products, product demand is expected to more than double in the next few months.
William MacLean, CEO of Wildflower says, “The acquisition of our California licenses has been transformative for the Company as it is essential for Wildflower to operate in the world’s largest cannabis market. However, the expansion in Washington is just as transformative as we are seeing exponential growth for CBD products in the health and wellness market, which is several times the size of the regulated cannabis market. We see this growth driving Wildflower to the next level.”
Wildflower is a cannabis company focused on developing and designing branded cannabis products. Wildflower sells its CBD+ products online and to retailers throughout the US and also produces and markets its THC products in regulated cannabis jurisdictions.
On Behalf of the Board of Directors
Director and CEO
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