Oregon's Grön's Edibles Producer Enters Into Deal With Indiva Limited Of Canada

Canadian cannabis edibles producer Indiva Limited NDVA NDVAF will launch Grön products in Canada. The London, Ontario-based company confirmed Wednesday it has entered into a licensing and manufacturing agreement with Oregon-based Grön to bring its edibles to Canada.

This move will expand Indiva's edible portfolio to include products with unique minor cannabinoid ratio combinations and form factors.

The initial term of the agreement is for five years, automatically renewing for three additional five-year terms.

The woman-led and owned edible brand Grön (pronounced "grewn") was founded by Christine Smith. The company is based in Portland, Oregon, and is one of Oregon's leading producers and fastest-growing distributors of cannabis edibles.

"We are excited to partner with the Indiva team to bring what we believe are the best-tasting edibles in the market today,” Smith said.

Grön's edibles portfolio includes candy-coated chocolate 'Pips', chocolate bars, gelatin gummy 'Pearls' and other novel edible products.

"We are delighted to partner with Grön to bring their innovative, original, high-quality edible products to the Canadian market," Niel Marotta, CEO of Indiva stated. "Indiva remains committed to growing its top-line and market share organically in Canada by bringing products to market that delight our customers while expanding the selection of legal cannabis edibles in Canada.  This agreement will allow Indiva to do just that, with new products which are unique to the Canadian market and complementary to our existing portfolio of cannabis edibles."

Indiva plans to begin production of Grön products in Canada as soon as possible, with initial deliveries to provincial wholesalers targeted for late Q2 2022.

Smith added that Indiva's commitment to quality was Grön's motivation for entering into the deal. 

“Their commitment to product consistency and industry support gives us confidence that they will be exceptional stewards of the Grön brand. Grön's cannabis-infused edibles are the perfect addition to the Canada adult-use cannabis market, bringing the 'Edibles 2.0' to the community through our innovative effect-driven cannabinoid ratios, deliciously refreshing gummy and chocolate flavors, all made with high-quality ingredients," Smith said.

Price Action

Indiva shares traded 1.11% higher at 21 cents per share at the time of writing Wednesday morning.

Photo: Courtesy of Plants for Persephone on Unsplash