Las Vegas, Nevada--(Newsfile Corp. - September 29, 2022) - Bhang Inc. (CSE: BHNG) (OTCQB: BHNGF) ("Bhang" or the "Company"), a global CPG company with an award-winning portfolio of products, is excited to move forward with a new strategic direction, and announce a new artist collaboration with Conrad Flórez, a Lima-based Peruvian street artist whose work is based on the creation of surreal characters that reflect a balance between technique and emotions.
Bhang's growth plans, along with a re-emphasis on the Company's intentions to foster additional creative relationships true to Bhang's culture and identity, were unveiled at MJ Unpacked this week.
"Life is better with Bhang is more than a motto," said Graham Simmonds, Bhang's Interim CEO. "It represents a new direction that goes beyond cannabis and edibles."
Bhang's new plan includes solidifying its connections in California, the brand's home state, as well as strategically expanding into new state-regulated markets and strengthening the organization's foundation to build around federal legalization.
Simmonds also identified new areas for growth, announcing the planned launch of two new as-yet-unnamed Bhang business units.
The first is focused on wholesale distribution and direct-to-consumer opportunities at the retail level within the minor cannabinoid market, which is expected to reach USD 26.2 billion by 2028, at a CAGR of 20.1% (in the U.S.), and the functional mushroom market, which will reportedly reach $13.6 billion by 2027, rising at a market growth of 8.7% CAGR (globally).
The second business unit will explore opportunities in emerging markets, such as Psilocybin mushrooms.
"We are more than our award-winning chocolate and cannabis products," Simmonds said. "Our goal is to continue growing and evolving as a global CPG company dedicated to providing products designed to enhance and complement consumer happiness, lifestyle, and well-being."
From a creative perspective, Bhang is very excited about its new partnership with Conrad Flórez, who is strongly influenced by music and graffiti culture and his art, like Bhang itself, is constantly evolving. The new collaboration was developed through Bhang's ongoing partnership with the Soul Assassins, which is positioned to ensure Bhang stays in tune with creative culture and opportunities.
"Soul Assassins has been the culture for the last 30 years-and we will continue to push the culture forward on a global level," said DJ Muggs, co-founder of the Grammy-nominated and renowned hip-hop group Cypress Hill, leader of Los Angeles art collective Soul Assassins, and Chief Creative Officer of Bhang.
About Soul Assassins
Soul Assassins was established in 1992 as a brotherhood deeply rooted in west coast LA culture, with a heavy influence on the rest of the world. For over three decades, the creative collective of interdisciplinary artists and visionaries have become masters of their craft and stayed true to the culture that they were born into.
Bhang's partnership with Soul Assassins holds strong and will continue to build its own unique culture through creative partnerships. The company's platform of visionaries has given Bhang access to some of the most influential talent including visual artists, legendary musicians, photographers, tattoo artists, production and graphics, and lifestyle apparel specialists to support our brand.
About Bhang
Bhang (CSE: BHNG) (OTCQB: BHNGF) has been providing consumers around the world with an award-winning portfolio of premium brands for over a decade. With roots in master-chef-created chocolate and cannabis edibles, the Company continues to grow as a global consumer packaged goods company dedicated to providing products designed to enhance and complement consumer happiness, health, and well-being. Find out why life is better with Bhang at bhangnation.com. For additional Bhang news, visit us at bhangnation.com/blogs/press.
FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities. Forward-looking information is often identified by the words "may," "would," "could," "should," "will," "intend," "plan," "anticipate," "believe," "estimate," "expect" or similar expressions and include information regarding: (i) statements regarding the future direction of the Company; (ii) the ability of the Company to successfully achieve its business and financial objectives; (iii) plans for expansion of the Company into new jurisdictions; and (iv) expectations for other economic, business, and/or competitive factors. Investors are cautioned that forward-looking information is not based on historical facts but instead reflect the Company's management's expectations, estimates or projections concerning the business of the Company's future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements. Among the key factors that could cause actual results to differ materially from those projected in the forward‐looking information are the following: changes in general economic, business and political conditions, including changes in the financial markets; in particular, in the ability of the Company to raise debt and equity capital in the amounts and at the costs that it expects; adverse changes in the public perception of cannabis; decreases in the prevailing prices for cannabis and hemp products in the markets that the Company operates in; adverse changes in applicable laws or adverse changes in the application or enforcement of current laws; the cannabis market is highly regulated and those regulations and enforcement priorities of governmental authorities may change; compliance with extensive government regulation and related costs; and other risks described in the Company's Listing Statement, dated July 9, 2019, and other filings on www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward‐looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
This press release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Company's securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or the securities laws of any state of the United States and may not be offered or sold within the United States or to any "U.S. Person" (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
Neither CSE nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release.
INVESTORS CONTACT:
Graham Simmonds
Executive Chairman & Interim CEO
Bhang Inc.
(416) 843-2881
invest@bhangcorporation.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/138880
