Wildflower (WLDFF) 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.

The Company is incorporated under the British Columbia Business Corporations Act and is a reporting issuer in British Columbia, Alberta and Ontario. Its common shares are listed for trading on the Canadian Securities Exchange under the symbol “SUN”.1

On November 22, 2017 the Company announced that it had won the recognition from High Times as the second best CBD product of 2017. High Times, a New York based monthly magazine founded in 1974, is the longest running and one of the leading news sources for the cannabis culture published its “10 Best CBD Products of 2017” featuring the Wildflower CBD+ Capsules as number 2, https://hightimes.com/cbd/best-cbd-products/9/, the only CBD capsule on the list.

On November 14, 2017, the Company announced that it had successfully launched its products into over 100 stores. While the majority of the stores are in the Washington State regulated market, Wildflower continues to grow its retail presence in the health and wellness stores located throughout the United States including New York, Miami, Los Angeles and Seattle. Online sales began a few months ago and has seen month over month increases. The Company is working with various affiliate on-line partners to bring awareness to its lineup of products and continue to grow its e-commerce revenues. With the relaunch of King Extracts in California under the Wildflower banner, King has sourced warehouse space, negotiated distribution agreements, finalized production and built up an inventory of both Wildflower and King products.

In April 2017, the Company signed a wholesale brokerage agreement with one of the world’s largest retail brokers, making the Company the first cannabis company to transition from the specialized cannabis market to mainstream retail distribution.

The Company’s full line of hemp derived CBD+ products including CBD based topical, soaps, capsules and vaporizers will be distributed throughout the United States where CBD is legal in all 50 States.

With 165 offices in the United States and Canada and employing 40,000 people, the wholesale broker provides Wildflower a large sales force to market and build out the retail distribution for its CBD+ products. As sales terms and conditions are set by the Company, including timing and pricing, and negotiated by the wholesaler with the retailer, it allows the Company to do a staged roll-out with an initial focus on health and wellness retailers to allow the Company to ramp up production and prepare for the larger national retailers.

The Company is coordinating orders with its production capabilities. Production facilities are being expanded and streamlined in order to meet the expected demand. As the first cannabis company to make the transition from specialized medical and cannabis markets to mainstream retail distribution, the Company is preparing specialized marketing and educational tools for the sales force.

In August 2017, the Company signed a formal agreement acquiring the King Extract brand (the "Agreement"), its trademarks and all proprietary formulations. Currently, King is in over 50 retail outlets but is poised for growth having recently signed on with one of the largest distributors in California giving the Company access to over 600 retail cannabis stores. King has also secured a steady supply of quality, pesticide free oil that can meet the demand of both the King and the Company’s products.

With a population of over 39 million, California has the 6th largest economy in the world and is the largest cannabis market. With the passing of proposition 64, California approved the legalization of recreational cannabis this past November. The Company’s expansion into California comes at an ideal time for the Company to gain brand awareness and market share prior to full legalization.

As part of the Agreement, King managing partner, Eric Bava will step in and run all California operations for the Company. In consideration, King will receive 500,000 common shares of the Company (issued). The Company will also issue an additional 500,000 common shares within the first year when sales reach US$180,000 in any given month and a further 500,000 common shares if sales increases at a minimum of 15% per month in the aggregate over the following 6 months. In addition, the Company will pay an amount equal to 50% of the net profits from the King business until the earlier of, information 2 years from signing a definitive agreement; and (ii) the Company shares trading at price of CAN$1.25 or greater for 10 consecutive trading days. Any shares issued will be subject to a one year hold period from the date of issue provided King is still receiving its net profits, otherwise there will be a four month hold period from the date of issue. In addition, the Company has granted 250,000 stock options at a price of $0.50 per share for a period of five years.

In June 2017, the Company launched an e-commerce website, offering consumers a secure on-line payment platform for its full line of CBD based products. Initial e-commerce will focus on the US market where CBD products are legal for sale and transport through the United States.

In addition, the Company announced that its CBD products will be available for purchase on Amazon.com, the world’s largest online retailer. The Company’s efforts at launching its products on platforms such as Amazon.com will help it gain an early hold in the market and position it for significant growth.

The Company launched a new vaporizer in November 2016 into the Washington State recreational market. The vaporizer is available in two cannabidiol (“CBD”) and three tetrahydrocannabinol (“THC”) blends. Following the beta launch of the Company’s vaporizer earlier this year, the Company, in conjunction with its licensee, perfected various blends, conducted rigorous testing and sought consumer and industry leaders feedback.

The CBD and THC products will be made available to all I-502 cannabis retailers (Washington State) through an agreement with a Washington State processor. Currently there are approximately 320 I-502 retailers.

The Company is developing a comprehensive on-line marketing campaign for its CBD products. The CBD blends are derived from industrial hemp with negligible THC content and can be sold on-line legally in most US States. The CBD vaporizer to be launched in I502 retail outlets will be a slight variation of the online version containing marginally more THC. Other distribution targets include 4,600 Natural and Health Food stores, 800 Vitamin and Supplements outlets as well as Pharmacies and retail stores throughout Washington State.

Recent development

On January 3, 2018: Wildflower Marijuana Inc. announced today the fulfillment of its initial purchase order announced December 14, 2017, amounting $600,000 through its California distribution partner. The products are expected to hit shelves in retail cannabis stores throughout the State this week.

The purchase order comes through Wildflower’s King Brand, who has secured access to over 600 retail cannabis stores through one of the largest distributors in California. The vaporizers will be placed and sold in 50 of their high-volume stores throughout the State.

Wildflower CEO William MacLean stated, “The company's ability to fulfill the first purchase order within 2 weeks shows its commitment to ensuring success in its deliverables for market expansion and growth.” He adds, “Wildflower Marijuana is extremely excited about California’s legalization of recreational cannabis and expect increased demand in what is already the largest cannabis market in the world.”

References

  1. ^ https://www.wildflowerbrands.co
Tags: US:WLDFF
Created by Asif F on 2020/01/13 11:38
     
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