- PLUS Uplift and Restore products ranked as the two best-selling cannabis edibles in California in terms of both dollars and units sold
- Plus Products has expanded into Nevada through a definitive agreement with TapRoot Holdings Inc.
- Projections estimate that Nevada will surpass $700 million in cannabis sales by 2020
Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF), a manufacturer and marketer of cannabis food products, is committed to ensuring the consistency of its products as it expands and sees continued success in the industry. PLUS co-founder and CEO Jake Heimark recently reiterated the company’s commitment to maintaining quality and consistency in PLUS products, wherever they are sold (http://ibn.fm/3xaUk).
BDS Analytics reported that, in Q1 2019 (the three months ended March 31), PLUS Uplift and PLUS Restore gummies were the two best-selling edible products in California in terms of both dollars and units sold (http://ibn.fm/xYXtH). PLUS Uplift brand owned 25 percent market share YTD in 2019, the company reported.
Building on its success in selling edible products in California, Plus Products has now entered Nevada, marking its first expansion outside California. The company is making this move through a definitive agreement with TapRoot Holdings Inc., a vertically integrated cannabis company operating cultivation and manufacturing facilities in Las Vegas.
“As we look to expand beyond California, we remain committed to producing a consistent product in all jurisdictions,” Heimark stated in a news release. “We want the PLUS customer to have the same experience with our products whether they buy it in LA or in Las Vegas.” The company will begin marketing its gummies and low-dose mints in Nevada dispensaries this summer.
An analysis article (http://ibn.fm/VdB6z) by Technical420 author Anthony Varrell calls the entry by Plus Products into Nevada a “growth driver” and deems Las Vegas a “key market to building an internationally recognized brand.” He cited the 45 million visitors to Las Vegas each year as an important factor in the move. Varrell also noted that Plus Products will be the manufacturing operations partner as it expands into new markets, ensuring quality and consistency. The article also included research by Arcview Market Research, combined with BDS Analytics, that projects retail sales of cannabis in Nevada to surpass $700 million by 2020.
San Mateo, California-based PLUS is a cannabis-infused, branded products manufacturer selling to regulated medicinal and adult-use recreational markets in California and Nevada. PLUS is focused on building the largest cannabis brand by growing organically and through acquisitions.
For more information, visit the company’s website at www.PlusProducts.com
NOTE TO INVESTORS: The latest news and updates relating to PLPRF are available in the company’s newsroom at http://ibn.fm/PLPRF
