INDIVA TO BRING DIME'S INNOVATIVE VAPE BRAND
PORTFOLIO TO CANADA
LONDON,
ON, April 19, 2022 /CNW/ - Indiva Limited (the
"Company" or "Indiva") (TSXV: NDVA) (OTCQX: NDVAF),
the leading Canadian producer of cannabis edibles, is pleased to
announce that it has entered into a licensing and manufacturing
agreement (the "Agreement") with California-based Dime IndustriesTM
Inc. ("Dime") to bring its innovative vape brand portfolio to
Canada. Following on Indiva's
success in producing and distributing the top selling chocolates
and gummies in Canada, the launch
of Dime products in Canada will
expand Indiva's portfolio to include innovative vape products,
incorporating proprietary hardware and cannabis formulations. The
initial term of the Agreement is for five years, with the Agreement
automatically renewing for three additional five-year terms.
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Dime's headquarters is based in Orange
County, California. Founded and led by Mike Marz, Dime is one of the leading producers
of cannabis vape products in the United
States. Dime's vape portfolio includes ten different
flavours, each of disposable and 510 thread carts, as well as
multiple flavours of live resin carts. Dime currently manufactures
and distributes its products in California, Arizona and Oklahoma, where it is legally permissible to
do so under applicable state laws.
"We are delighted to partner with Dime to bring their innovative
brand of proprietary, high-quality vape products to the Canadian
market," said Niel Marotta, Chief
Executive Officer of Indiva. "This is our first entrance into the
vape category in Canada, and we
could not be more excited about the quality of our chosen licensing
partner and their products. Indiva distributes products to all 13
provinces and territories in Canada, and remains committed to growing its
top-line and market share organically in Canada -adding vapes to our portfolio of
award-winning products is expected to help Indiva accomplish just
that. We are very excited to bring Dime vape products to Canadian
cannabis enthusiasts."
"Dime Industries and its entire team are excited and eager to
serve the Canadian market with our new partners at Indiva," said
Mike Marz, Founder and Chief
Executive Officer of Dime.
Indiva intends to begin production of Dime vape products in
Canada as soon as possible, with
initial deliveries to provincial wholesalers targeted for Q3
2022.
ABOUT DIME INDUSTRIES
Dime IndustriesTM is founded and led by cannabis
pioneer Mike Marz. Based in
Orange County, California, Dime
manufactures and distributes vape products which incorporate
proprietary hardware and cannabis formulations. Dime also
manufactures extract products. Dime products are currently
available in California,
Arizona, and Oklahoma, with multiple new markets
anticipated to be added in 2022. Dime –Think Higher.
Connect with Dime on Instagram, Facebook, or on their website
— http://www.dimeindustries.com/
ABOUT INDIVA
Indiva sets the standard for quality and innovation in cannabis.
As a Canadian licensed producer, Indiva produces and distributes
award-winning cannabis products nationally, including
Bhang® Chocolate, Wana™ Sour Gummies, Slow
Ride Bakery Cookies, Jewels Cannabis Tarts, Ruby®
Cannabis Sugar, Grön edibles, Dime IndustriesTM vape
products, as well as capsules, pre-rolls and premium flower under
the INDIVA and Artisan Batch brands. Click here to connect with
Indiva on LinkedIn, Instagram, Twitter and Facebook, and here to
find more information on the Company and its products.
DISCLAIMER AND READER
ADVISORY
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) has in any way passed upon the merits of the
contents of this news release and neither of the foregoing entities
accepts responsibility for the adequacy or accuracy of this news
release or has in any way approved or disapproved of the contents
of this news release.
Certain statements contained in this news release constitute
forward-looking information. These statements relate to future
events or future performance. The use of any of the words "could",
"intend", "expect", "believe", "will", "projected", "estimated" and
similar expressions and statements relating to matters that are not
historical facts are intended to identify forward-looking
information and are based on the parties' current belief or
assumptions as to the outcome and timing of such future events.
Actual future results may differ materially. In particular, this
news release contains forward-looking information relating to,
among other things, the Company's future operations, future
results, future product offerings (including the timing of the
introduction of new product offerings) and compliance with
applicable regulations. Various assumptions or factors are
typically applied in drawing conclusions or making the forecasts or
projections set out in forward-looking information. Those
assumptions and factors are based on information currently
available to the parties. The material factors and assumptions
include the parties being able to maintain the necessary regulatory
and other third parties' approvals and licensing and other risks
associated with regulated entities in the cannabis industry, future
sales, the demand for the Company's products and cannabis products
generally and the continued operations of the Company in the
ordinary course. The forward-looking information contained in this
news release is made as of the date hereof and the Company is not
obligated to, and does not undertake to, update or revise any
forward-looking information, whether as a result of new
information, future events or otherwise, except as required by
applicable securities laws. Because of the risks, uncertainties and
assumptions inherent in forward-looking information, investors
should not place undue reliance on forward looking information. The
foregoing statements expressly qualify any forward-looking
information contained herein.
All information contained in this news release with respect
to Indiva and Dime was supplied by the respective party for
inclusion herein, and each party and its directors and officers
have relied on the other party for any information concerning the
other party.
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SOURCE Indiva Limited