SEATTLE, Feb. 27, 2024 /CNW/ - Nevis Brands Inc. (CSE: NEVI) (US OTC: PSCBF) ("Nevis" or the "Company"), a leading provider of cannabis beverages brands, today provides the following corporate update:
California Production and Sales: The Company is pleased to announce it has completed production of Major™ 6.7 oz bottles in California. In addition, the Company has received a wholesale purchase order for 50% of its initial production. Major™ is already available in multiple Los Angeles, San Diego, and Northern California locations. Revenues from California will be reflected in Q1 2024 reporting which ends February 29, 2024.
Missouri Production: The Company has received Missouri state approval of its packaging and formulation and is on target to begin production in March 2024. The Company's licensee will produce 3 flavors of Major™ 2 oz shots (100 mg THC).
Ohio Product Expansion: The Company has completed production of three additional Major™ products in addition to the six products currently in market and will begin sales in March 2024.
Financial Reporting: The Company is scheduled to announce the results of its fourth quarter and Year-End (November 30) 2023 (Audited) in March 2024.
John Kueber, CEO of Nevis Brands, commented, "We are pleased to announce the successful completion of our initial production run of Major™ in California. We are even more thrilled to receive immediate initial commitments for our products in the largest cannabis market in the world. California represents a tremendous opportunity for us to expand the Major™ Brand, which is already available for purchase at retail dispensaries in 7 states. Despite the competitive market in California, the rapid onset, doseable format, and value pricing of Major™ make it an attractive proposition for consumers. We are confident that we can make it one of our most successful markets."
Kueber also shared his enthusiasm about the imminent production of Major™ in Missouri, stating that they have moved rapidly through equipment procurement and the necessary regulatory steps to allow their products to be in the market within an estimated 90 days.
About Nevis Brands
Nevis innovates and develops cannabis products that have been consumed by millions of consumers across Washington, Oregon, Colorado, Arizona, Nevada, California, and Ohio. Led by our flagship brand, Major™ (www.drinkmajor.com) Nevis licenses its proven products with leading cannabis product manufacturers and distributors to enhance their product offerings.
Nevis Brands Inc. is publicly traded on the CSE under the symbol "NEVI," US OTC: "PSCBF" and Frankfurt Stock Exchange symbol under the symbol "8DZ".
Forward-Looking Statements
This news release contains "forward-looking statements" or "forward-looking information" (together, "forward-looking statements") within the meaning of applicable securities laws. Wherever possible, words such as "may", "would", "could", "should", "will", "anticipate", "believe", "plan", "expect", "intend", "estimate", "potential for", "see" and similar expressions have been used to identify these forward-looking statements. Forward-looking statements in this news release include, without limitation, the Company's outlook for and expected operating margins, capital allocation and other financial results; statements relating to the business and future activities of, and developments related thereto, the Company after the date of this news release, including such things as future business strategy, competitive strengths, goals, expansion and growth of the Company's business, operations and plans; expectations regarding cultivation and manufacturing capacity; expectations of market size and growth in the U.S. and the states in which the Company operates; expectations for other economic business or competitive factors related to the Company; the Company's business outlook.
These forward-looking statements reflect the current expectations of the Company's management for future growth, results of operations, performance, and business prospects and opportunities and involve significant known and unknown risks, uncertainties and assumptions, including, without limitation, those listed in the Company's filings with the Canadian securities regulatory authorities (which may be viewed at www.sedarplus.ca). Should one or more of these risks or uncertainties materialize or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by the forward-looking statements contained in this news release. These factors should be considered carefully, and prospective investors should not place undue reliance on the forward-looking statements. The Company disclaims any intention or obligation to revise forward-looking statements whether as a result of new information, future developments or otherwise, except as required by law.
The Canadian Securities Exchange has not reviewed, approved, or disapproved the content of this news release.
SOURCE Nevis Brands Inc.
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