Chill Brands Group PLC Trading Update (1359R)
November 03 2021 - 3:00AM
UK Regulatory
TIDMCHLL
RNS Number : 1359R
Chill Brands Group PLC
03 November 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT)
REGULATIONS 2019/310
3 November 2021
Chill Brands Group plc
("Chill" or the "Company" or the "Group")
Trading Update
Chill Brands Group plc (LON:CHLL) (OTCQX:ZOEIF), the
international CBD group , is pleased to provide an update on its
operations.
Overview
-- Sales to Group's US distributor for 'Chill' branded products
totaling over US$0.5 million recorded during period between 1 July
2021 and 30 September 2021
-- All previously announced targets and distribution agreements
remain in place despite international logistics issues influencing
speed of rollout
-- Group's Board closely engaged with Strategic Advisors to
devise and implement new investor relations and public relations
protocols
During the period between 1 July 2021 and 30 September 2021, the
Group recorded sales of its 'Chill' branded products to US
distribution partners totaling US$561,330.
While the Group's efforts are focused on making a success of its
US product rollout, the pace of the programme has been influenced
by the widespread international logistical delays. The Board of
Directors (the "Board") are proactively seeking to mitigate the
effects of these delays, and all previously announced targets,
distribution agreements, and partnerships remain in place.
Owing to the nature of the Group's relationship with its
distribution partners, it is not possible to provide comprehensive
sales data relating to sell-through rates and the performance of
individual product SKUs (stock keeping units) at the retailer
level. The Board is actively exploring new sales reporting
mechanisms that will provide greater clarity to shareholders and
further details will be provided in due course.
In future, the Group will not issue sales updates on a regular
quarterly basis and will instead seek to communicate more fluidly
with the market as new information becomes available. In the
meantime, the Board is working closely with the Group's strategic
advisors, Viridian Capital Advisors, to develop and deploy more
effective market communication strategies.
Trevor Taylor, Co-CEO of Chill, said: "We are pleased that the
Group's US rollout continues to generate significant sales. While
it is regrettable that logistics issues have impacted on the pace
of the rollout in the short-term, we are confident that previously
announced targets are realistic and achievable. We are grateful to
shareholders for their patience in respect of the release of these
figures and are working diligently with Viridian's expert team to
enhance the Group's approach to investor relations and market
communications."
- Ends -
Publication on website
A copy of this announcement is also available on the Group's
website at www.chillbrandsgroup.com
Media enquiries:
Chill Brands Group plc c/o Buchanan
Trevor Taylor, Co-CEO
Antonio Russo, Co-CEO
Allenby Capital Limited (Financial
Adviser and Broker) +44 (0) 20 3328 5656
Nick Harriss / Nick Naylor (Corporate
Finance)
Kelly Gardiner (Equity Sales)
Buchanan
Henry Harrison-Topham / Jamie Hooper Tel: +44 (0) 20 7466
/ George Beale 5000
chillbrands@buchanan.uk.com www.buchanan.uk.com
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END
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