- Technical420 is bullish on aggressive growth as Plus Products expands into Nevada through a definitive agreement with TapRoot Holdings
- Entry into Nevada is forecast to be a growth driver for the company and a key step toward building an internationally recognized brand
- PLUS is also purchasing an option to buy cannabis oil producer Emerald Bay Wellness and the business assets of Emerald Bay Extracts
Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF), manufacturer and marketer of cannabis food products, was identified as a ‘premier edibles brand to watch’ in a bullish analysis by Technical420 that cites the company’s growth into Nevada from its California base (http://ibn.fm/QwSZ2).
According to cannabis market analysis by Anthony Varrell of Technical420, PLUS’ move beyond California after dominating edibles in that market is significant. “One of the biggest potential catalysts for Plus Products will be the expansion into additional cannabis markets in the U.S. The company has been laser focused on the California opportunity, and we have been favorable about this approach since we started covering this company,” he said in an article. “Going forward, we would expect to see Plus Products announce a strategic partner when it comes to conducting a national expansion and this is something to be watching.”
Varrell also sees the PLUS expansion beyond California into Nevada as a major development in its growth. Technical420 analysis concludes that PLUS Products is a ‘premier edibles brand to watch’, citing the company’s domination of the California market as a solid foundation for what it sees as a growth driver for the company as it expands into Nevada, especially the Las Vegas market. PLUS has made those moves through its definitive agreement with TapRoot Holdings, a vertically integrated cannabis company.
PLUS has also purchased an option to buy one of its largest cannabis-oil suppliers, Emerald Bay Wellness LLC, along with the business assets of Emerald Bay Extracts. The option specifies cash and stock consideration for the acquisition (http://ibn.fm/oJSBM). The option grants PLUS the right, but not the obligation, to buy.
PLUS said that if the option is exercised, the acquisition would give PLUS in-house cannabis extraction capabilities that would improve quality control and raise gross margins on its core-edibles business. The move would also create a new revenue stream and capabilities for new-product development.
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