Bhang Signs Exclusive CBD Distribution Deal to Bring Award-Winning Products to Puerto Rico – GlobeNewswire

TORONTO, July 17, 2019 (GLOBE NEWSWIRE) — Bhang Inc. (“Bhang” or the “Company”) (CSE: BHNG), a global cannabis house of brands with an extensive 100+ product portfolio, announced today that it has signed an exclusive agreement with a team built around one of the largest distributors in Puerto Rico that specializes in CPG, to distribute Bhang’s full suite of award-winning cannabidiol (CBD) products.
It is expected that the first shipment of Bhang products, which will include CBD Isolate, Cartridges, Chocolate, Pre-rolls, Gum, Vape Pens, Sprays, E-juice, Lip Balms, and the Company’s recently launched Gummies, will be received in 30 days. This distribution agreement offers an opportunity for Bhang to expand the Company’s operational footprint and achieve full Caribbean distribution with its Puerto Rico partner in the near future. Bhang is in the process of finalizing a THC licensing agreement with its partner and will update the market in due course.“Our ability to partner with today’s largest regional operators demonstrates the strength of the Bhang brand and the success of our vertical expansion program,” said Bhang CEO and Chairman Scott Van Rixel. “With those aspects combined, we provide the industry with the most expansive product portfolios of THC, hemp-derived CBD and Terpene products to evolving cannabis markets around the world. Our entry into the fast-growing Puerto Rico market is yet another step toward our mission to build a true, global house of brands while leveraging partnerships with leading regional operators. This is a very efficient way to expand our brands internationally and we will remain focused on expanding our reach as new markets open.”According to the island’s Department of Health, since the legalization of medical cannabis two years ago in Puerto Rico, over 70,000 patients have signed up for the program. The office’s goal is to register 100,000 new patients by the end of the year. The government has issued 77 dispensary licenses and 40 have already opened across the island. The cannabis program is expected to generate $100 million in new tax revenue by 2020 and create 20,000 jobs, according to the government and industry proponents.Bhang’s portfolio of cannabis, hemp-derived CBD and Terpene products includes over 25 CBD products that are available in stores in states where these products are legally sold and through www.bhangcbd.com. The Company recently launched its line of CBD Gummies, which are available in Watermelon and Cherry flavors and contain 15 milligrams and 10 milligrams of CBD respectively in each slice.About Bhang
Bhang is committed to delivering exceptional sensory experiences to consumers at every point in their cannabis journey through its award-winning portfolio of brands. Bhang is a trusted global cannabis house of brands with an extensive portfolio of over 100 cannabis, hemp-derived CBD and terpene products, including chocolates, pre-rolls, vapes, gums, beverages, gummies and mouth sprays, among others. Since 2010, Bhang has mastered the art of harnessing mutually-beneficial partnerships to bring safe, consistent and delicious products to the world. Learn more at www.bhangnation.com.
FORWARD LOOKING STATEMENTSINVESTOR CONTACT:
Valter Pinto / David Hanover
KCSA Strategic Communications
212-896-1254 / 1220
Valter@kcsa.com / DHanover@kcsa.com
MEDIA CONTACT:
Tim Gray/Nick Opich
KCSA Strategic Communications
212-896-1251 / 1206
TGray@kcsa.com / NOpich@kcsa.com

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