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Weekend Unlimited has closed its previously announced acquisition of Verve Beverage Company

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VBC Brands has an exclusive distribution license to Verve products for retail trade in Canada, United States and Mexico. They also recently obtained the rights to market and sell the new CHAMP brand of CBD and non-CBD products.

Additional Information:

Company: Weekend Unlimited
Website: http:// www.weekendunlimited.com
Stock Symbol: CSE: YOLO
Date Published: Jan 15, 2019
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Weekend Unlimited, a cannabis lifestyle company, has closed its previously announced acquisition of Verve Beverage Company.

VBC Brands has an exclusive distribution license to Verve products for retail trade in Canada, United States and Mexico.

VBC Brands recently obtained the rights to market and sell the new CHAMP brand of CBD and non-CBD products.

VBC plans to launch additional CBD infused products and has plans to grow its retail footprint through its distribution network and retailer relationships throughout the United States beginning in January 2019.

Bradley Robb, President of VBC Brands, stated: "Verve is a premium energy beverage with over $236 million USD in historical sales in the direct to consumer channel. VBC Brands owns the exclusive distribution license to launch this proven brand into retail stores in the US, Canada and Mexico, leveraging over $150 million dollars spent in marketing and developing the brand. VBC's CHAMP CBD and non-CBD beverages serve to extend our opportunities in the wellness industry, positioning the Company's line to take advantage of growing demand as the market shifts in attitude, and legislatively, regarding quality cannabinoid products. As the official energy drink of the NHL's San Jose Sharks, CHAMP sales and distribution will be initially focused in the California market.”

Weekend will issue 60 million shares to the shareholders of VBC, of which 30 million shares be escrowed 20% released immediately and the balance in equal installments every 6 months over the next 3 years.

Paul Chu, President and CEO of Weekend Unlimited, stated: “With the addition of Verve we now have a platform for Weekend to expand both its distribution and product offerings, THC by state where legal and CBD across the country. This distribution network will allow us to grow and manage indirect channel and big box placements nationwide for multiple brands in our portfolio.”

In a note to investors by Bobby Burleson, Managing Director at Canaccord Genuity Inc., “Beverages with CBD or THC ingredients could grow to capture about 20% of the U.S. market for edible pot products by 2022, up from 6% of edibles sold now.”

Canaccord sees the demand for beverages featuring CBD reaching $260 million while THC-based drinks could reach $340 million.

This acquisition follows Weekend Unlimited’s closure last week of the acquisition of Canna Candys and Canna Medibles.

Canna Candys plans to begin producing hard candies and soft gummies at its new licensed manufacturing facility in California in the first quarter of 2019.

Weekend is focussed on building out its brand portfolio with a national distribution rollout for its edible line of CBD products throughout the USA, and its edible line of THC products in California, Washington and Nevada.

Weekend Unlimited, which began trading on the CSE on October 15th, is currently trading at $0.135.

For more information, please visit the company’s website at www.weekendunlimited.com or contact Paul Chu, President and CEO, at 236-317-2812 or email ir@weekendunlimited.com.