11:50 AM EST - Plus Products Inc. : Announced the launch of its best-selling gummies into the Nevada market. The products are manufactured through the Company’s partnership with TapRoot Holdings Inc., a vertically integrated cannabis company operating cultivation and manufacturing facilities in Las Vegas, Nevada. Commercialization comes just four months after PLUS and Taproot entered into a definitive agreement. PLUS is the #1 cannabis gummies brand in California with 21% market share. PLUS has launched in Nevada with its infused-gummies product line, which includes the #1 & #2 best-selling cannabis products in California across all categories. Nevada surpassed retail sales expectations in its first year of adult-use sales, and sales are expected to surpass $1.2 billion by 2022. With over 45 million visitors a year from all over the world, Nevada is a key market to building an internationally recognized brand. As in California, edible products have continued to increase in popularity, growing from 14.5% of recreational sales beginning in Q3 2017 to 18% today. Plus Products Inc.
shares PLUS:CNX are trading down 6 cents at $3.75.
