- Plus Products creates cannabis edibles to support healthier lifestyles
- The company offers top products in the adult-use, medical and CBD segments
- PLUS recently reported record revenues for Q4 2018
Plus Products Inc. (CSE: PLUS) (OTCQB: PLPRF) is a foremost cannabis-branded products manufacturer with a mission to make cannabis safe and approachable. Based in San Mateo, California, Plus Products manufactures edibles created to support a healthy and active lifestyle. The company focuses on producing edibles using extracts to ensure compliant, dosable and appetizing options that provide a consistent cannabis experience. All of its products are manufactured in its 12,000-square-foot, food-safe cannabis manufacturing facility in Adelanto, California.
PLUS products are exclusively available in California. The company’s products make up some of the leading edibles brands in the state. According to BDS Analytics, the leading independent cannabis retail-sales analytics company, PLUS was the number one edibles brand by retail sales and units sold in Q3 2018 and Q4 2018 (http://cnw.fm/M9kPX). PLUS has leading products in the adult-use, medical and CBD (cannabidiol) segments (http://cnw.fm/5V53l).
The U.S. cannabis market is estimated to reach $75 billion by 2030 (http://cnw.fm/M7W8z). With this meteoric market growth, PLUS is at the forefront of developing products that appeal to sophisticated consumers. Experts in numerous fields work together to create the company’s unique edibles. The PLUS team consists of chefs, chemists, food-manufacturing experts, engineers, machinists, visionaries, creatives, strategists and others.
The company’s product portfolio includes Refresh pink lemonade-flavored gummies that are precisely dosed with 3.5mg of THC (tetrahydrocannabinol) and 1.5mg of CBD. Its products also include Restore blackberry & lemon gummies, precisely dosed at 4.5mg of THC and 0.5mg of CBD each, and Uplift sour watermelon sativa low-calorie gummies. Additionally, its product line includes CBD Relief mango flavor gummies, which are made with 4.5mg of cannabis-derived CBD and 0.5mg of THC per piece.
Plus Products’ newest addition to its product family — Create sour blueberry low-calorie gummies —is infused with hybrid flower and contains 5.0mg of THC. Moreover, the gummies are gluten-free and made with kosher ingredients. PLUS also offers a line of low-dose edible Classic Mints. These flavored tablets (40 mints per tin) contain 2.5mg of THC and less than 0.1mg of CBD each (http://cnw.fm/5e9CA). The company also manufactures a variety of limited-edition products (http://cnw.fm/9o8hP).
Recently, Plus Products reported its audited financials for the quarter and calendar year ended December 31, 2018. Annual revenues increased to $8.4 million in 2018, marking a 681 percent increase over 2017 revenues of $1.1 million. Q4 revenues were a record $3.1 million, up 31 percent from Q3 and 770 percent over Q4 2017. The company noted that revenue growth was driven by sales of its concentrated brand portfolio of four full-time SKUs and one rotating seasonal (http://cnw.fm/Fl5On).
“We remain proud that PLUS had significant growth in both revenue and market share in a year where the greater legal California cannabis market shrank and underperformed expectations due to unclear regulations and an increase in underground market sales,” PLUS co-founder and CEO Jake Heimark stated in a news release. “We look forward to greater regulation and increased enforcement in 2019 that will allow the legal industry to continue to prosper and help us continue on our mission of making cannabis safe and approachable for everyone.”
Plus Products is using its knowledge from scaling in California to enter new markets with proven products and brands. PLUS remains committed to its vision of owning the branded product space with its innovative offerings.
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://cnw.fm/PLPRF
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