- Kaival Brands Innovations Group Inc KAVL, pursuant to its licensing agreement with Philip Morris International Inc PM, reported on the launch of e-vapor product VEEBA in Canada.
- The launch follows a recently announced international licensing agreement with Philip Morris Products S.A.
- Kaival Brands is the U.S. distributor of all products manufactured by Bidi Vapor, LLC, which are intended for legal-age nicotine users.
- The licensing agreement covers developing, licensing, and distributing electronic nicotine delivery system (ENDS) products in certain markets outside of the U.S., pending further regulatory assessments.
- "The Agreement with Philip Morris Products was a remarkable accomplishment for the company and now we have advanced to the next phase of international distribution with the actual launch of their custom branded product, VEEBA," said Kaival Brands COO Eric Mosser.
- Kaival Brands and Philip Morris are the exclusive global distributors of products manufactured by Bidi Vapor.
- Price Action: KAVL shares are trading higher by 27.8% at $1.61 in premarket trade on Monday.
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