Medical cannabis licensed producer Indiva Limited NDVAF NDVA announced Tuesday it has established a collaboration with Wana Brands to help its original cannabis-infused products reach Canada.
Wana Brands is an award-winning U.S. edibles company, featured as the brand with the most dollars sold in BDS Analytics’ 2019 Brand Share Reported, according to the press release.
It's reachable across California, Michigan, Arizona, Colorado, Oregon, Illinois and Ohio, and after partnering with Indiva it will be available in Canada, its first international market.
Per the agreement, concluded with the holder of Wanta’s intellectual property, The Cima Group LLC, Indiva will obtain exclusive rights to manufacture and sell Wana products in Canada.
“Wana stands out from the field for its consistency, quality and innovation,” Niel Marotta, Indiva’s President and CEO, said in a statement. “We are proud to be Wana’s exclusive Canadian partner. We are building a portfolio of proven, trusted brands and intend to be the producer of choice for global cannabis companies looking for a collaborative partner that is passionate about creating the very best cannabis products. We look forward to working closely with Wana’s leadership team to bring their much-beloved premium edibles to Canadians in the very near future.”
Wana Brands CEO Nancy Whiteman also commented on the partnership.
“Canada is an important market for Wana and a gateway to international expansion," she said. "We’ve been searching for the past two years for the perfect Canadian partner, and we found that with Indiva. We look forward to bringing to Canada a decade of cannabinoid expertise, as well as leading edge innovation that Wana products are known for.”
Indiva’s shares were trading 11.64% lower at 19 cents per share on Tuesday morning.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Meet the biggest cannabis industry players and make deals that will push the industry forward.
Featuring live company presentations, insider panels, and unmatched access to networking, the Benzinga Cannabis Capital Conference is where cannabis executives and entrepreneurs meet.
Join us April 11-12, 2023 at Fontainebleau Miami Beach in sunny Florida.