INDVR Brands Inc. Signs Letter of Intent with BevCanna to In
INDVR Brands Inc. Signs Letter of Intent with BevCanna to Introduce Honu's THC Infused Products to Canadian Consumers 04/12/2021 7:00:00 AM Calgary, Alberta and Denver, Colorado--(Newsfile Corp. - April 12, 2021) - INDVR Brands Inc. (CSE: IDVR) (the "Company" or "INDVR Brands" or "INDVR"), a premier cannabis brand, consolidator and edibles retailer, proudly announces it has signed a Letter of Intent ("LOI") with BevCanna Enterprises Inc. ("BevCanna") to produce and distribute certain HONU THC infused and award-winning edible products to retail locations across Canada. The new partnership marks INDVR's first introduction to the Canadian cannabis market and its first international expansion. "With the THC infused product segment making up a growing percentage of the cannabis consumed in Canada, now is the ideal time to introduce our HONU brand into an edibles market estimated at approximately $1.6 billion annually," said Joshua Mann, INDVR's CEO. "Our dedication to product quality and consistency is our defining factor in producing some of the most trusted products in Washington and Oregon states, and we are excited to start building the same brand-loyal following across Canada." Under the terms of the mutually beneficial venture, BevCanna will assist in accessing manufacturing, sales and distribution for certain INDVR and HONU products in Canada, including the new product lines being integrated through the Strainz acquisition. In addition, INDVR will assist BevCanna with the distribution of certain BevCanna products in the US through INDVR's established channels. Under the LOI, INDVR will also provide BevCanna with distribution metrics on the various channels available in certain States, dispensaries, and expected sales volumes to help with its product's overall success in the US