SAN MATEO, Calif., Feb. 16, 2021 (GLOBE NEWSWIRE) -- Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) (the “Company” or “PLUS”), a cannabis and hemp branded products company in the U.S., today announced a strategic shift to expand its sales team, internalize all account management, and transition to a self-service distribution partner in the California adult-use market.
To date, PLUS has partnered with full-service distributors, relying on a hybrid of both internal and external personnel to make up its sales force. Under this new self-service model, the sales cycle for every order will be owned start to finish by a member of the PLUS team.
“Despite the success we have had with our full-service partners in building PLUS into the brand that it is today, we believe the best path forward is to expand our sales team, internalize all account management and transition to a self-service distribution partner,” stated Jake Heimark, Co-founder and CEO.
To facilitate this shift, the Company has invested heavily in its internal sales force, expanding the team by greater than fifty percent (50%) since the start of Q4 2020, and has partnered with a self-service distribution provider with access to 99% of California’s licensed retailers in order to manage all order fulfillment beginning February 15, 2021.
“At PLUS, we are focused on bringing customers the best possible experience and part of that experience is being on as many shelves as possible. We have found that the most effective way for us to achieve the broadest distribution for our products is to have a member of the PLUS team representing the Company at every interaction with our retail customers,” continued Mr. Heimark. “This transition will make that a reality across the entire California market.”
About PLUS
PLUS is a cannabis and hemp branded products company focused on using nature to bring balance to consumers’ lives. PLUS’s mission is to make cannabis safe and approachable – that begins with high-quality products that deliver consistent consumer experiences. PLUS is headquartered in San Mateo, CA.
For further information contact:
Jake Heimark
CEO & Co-founder
ir@plusproducts.com
Investors:
Blake Brennan
Investor Relations
Blake@plusproducts.com
Tel +1 213.282.6987
Media:
plus@mattio.com
Mattio Communication
The CSE does not accept responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This press release includes statements containing certain “forward-looking information” within the meaning of applicable securities law (each, a “forward-looking statement”). Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur and include, but are not limited to, statements relating to: (i) whether or not the best path forward is to expand the Company’s sales team, internalize all account management and shift to a self-service distribution partner; and (ii) whether or not the most effective way for the Company to achieve the broadest distribution for its products is to have a member of the PLUS team representing the Company at every interaction with its retail customers.
These forward-looking statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this press release. Forward looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These risks include, but are not limited to, the success of the Company’s investments, the ability to retain key personnel, the ability to continue investing in infrastructure to support growth, the ability to obtain financing on acceptable terms, the continued quality of the Company’s products, customer experience and retention, the continued development of adult-use sales channels, managements estimation of consumer demand in in jurisdictions where the Company exports, expectations of future results and expenses, the availability of additional capital to complete capital projects and facilities improvements, the ability to expand and maintain distribution capabilities, the impact of competition, the ability of the Company to implement initiatives and the possibility for changes in laws, rules, and regulations in the industry. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
