Expansion of Retail Programme
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.
12 December 2022
Chill Brands Group plc
("Chill Brands" or the "Company")
Expansion of Retail Programme
Chill Brands, the international consumer packaged goods company, announces sales to a new distribution partner and an expansion of its US retail store programme.
The Company has received an initial purchase order totalling in excess of $20,000 from a large national distributor serving a number of popular tobacco and liquor stores chains.
Following the sale, Chill Brands' existing range of CBD products will enter an additional 60 stores across the Western United States. These stores follow 20 Colorado-based independent retail locations and 20 licensed dispensary outlets that commenced sales and pilot programmes of Chill Brands' products during Autumn 2022.
These latest retail sales developments build on the Company's existing presence in 600 stores including Yesway/Allsup's and branches of Smoker Friendly. Chill Brands' recent activity represents a retail footprint expansion of more than 15%.
The Company continues to work with its distribution partners to extend its sustainable and targeted rollout to retailers throughout the US. Many of Chill Brands' existing distribution and retail partners have also expressed interest in carrying the Company's new range of nicotine-free vapour products that was announced on 7 December 2022.
Callum Sommerton, Chief Executive Officer of Chill Brands, commented:
"We are thrilled to be continuing our store rollout and are excited to be activating 60 new stores. The Chill brand has enjoyed a warm reception from the new locations it has entered during the past few months, where our novel tobacco alternative products have attracted sustained attention from relevant consumers.
It is important to recognise that CBD is a unique product which is best suited to specialist outlets, as reflected by our updated rollout strategy. We continue to take steps to proliferate Chill CBD products throughout the US retail environment and look to growing our store footprint further. "
-ENDS-
About Chill Brands Group
Chill Brands Group plc (LSE: CHLL, OTCQB: CHBRF) is an international company concerned with the development, production, and distribution of best-in-class hemp-derived CBD products, tobacco alternatives and other consumer packaged goods (CPG) products. The Company operates primarily in the US, where its products are distributed online and via some of the nation's most recognisable convenience retail outlets. The Group's strategy is anchored around lifestyle marketing that is designed to enhance the popularity of its products, channelling visitors to its landmark chill.com website.
Publication on website
A copy of this announcement is also available on the Group's website at http://www.chillbrandsgroup.com
Media enquiries:
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Chill Brands Group plc |
contact@chillbrandsgroup.com |
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Allenby Capital Limited (Financial Adviser and Broker) |
+44 (0) 20 3328 5656 |
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Nick Harriss/Nick Naylor (Corporate Finance) |
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