Plus Products Inc (OTCMKTS:PLPRF) unveiled high THC concentrated Gummies under High Cubes Brand for recreational use in California. It is derived from a whole plant to offer aromatic terpenes, flavonoids, and cannabinoids to provide an instant high that lasts long for users.
Gummies with a high psychoactive effect
The ingredients of Gummies, the third edibles brand of Plus Products, include 10 mg of THC, less than 1g of sugar, and just 5 calories. Plus Products delivers two gummy products as part of the initial lineup to those searching to feel a high psychoactive effect.
High Cubes are initially offered in two flavors – Sativa Strawberry and Indica Plum. Each gummy comprises 10 mg of THC. Therefore, each package offers 100 mg of THC. Plus Products currently offers High Cubes through more than 40 licensed retailers statewide.
Plus Products offers edibles infused with cannabis in more than 360 licensed retailers in California. The company provides Plus CBD Relief Gummies infused with cannabis in more than 240 licensed retailers statewide. Gummies under the High Cubes Brand will soon hit the shelves.
Concludes share exchange
Plus Products concluded a share exchange. As per the terms of this transaction, it exchanged 75,500 shares with a newly created 15.1 million class B shares. The company’s investors authorized the creation of Class B shares in a special conference conducted on June 15, 2020.
In Q1 2020, Plus Products reported a growth of 46% YoY to $4.7 million. It is on the backdrop of increased adult-use sales in California, Nevada, and nationwide sales of hemp CBD. Its gross profits surged to $1.7 million.
Highlights in Q1 2020
Plus Products entered the adult-use CBD market in California by introducing Plus CBD Relief brand to address relief and wellness needs. They feature high CBD and low THC to provide relief for the patients. It serves one-third of the patients in California with its CBD Relief products. More than 175 retailers in the state have already added this product to their product line.
As part of cost-saving measures, Plus Products lowered salaries and rationalized workforce. It also signed several agreements for the non-core segments.
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