First month results put wknd! branded products in 35 stores selling over 2000 units
VANCOUVER, BC / ACCESSWIRE / January 27, 2020 / Weekend Unlimited Inc. ("Weekend" or the "Company") (CSE:POT)(FSE:0OS1)(OTCQB:WKULF) a lifestyle cannabis company, is providing an update on its launch into the Oklahoma market as the Company sees strong results in the first month of operations.
Oklahoma Highlights:
- WKND! Branded Products now available in 35 stores
- 2020 units of WKND! Branded Products sold since mid-December
- 12 re-orders of WKND! Branded Products indicating sell through of initial shipment
- Due to success of WKND! branded products the Company is expanding WKND! SKUs
- In addition, as a result of the success of WKND! Branded products, the Company will accelerate its launch of Orchard Heights branded products, with a target to have them in the market by the end of Q1
"With approximately 1500 retail stores in operation in the State of Oklahoma, in the first month the sales team has made pitches to approximately 15% of the market and delivered tremendous results, adhering to our mandate to have profitable operations," said Mr. Chris Backus, Weekend President and CEO. "We are targeting pitches to 300 new stores in the next month as the response to the brand has been outstanding. Our partners in Oklahoma, Ruby Mae's, are absolutely terrific and delivering on all our shared targets boding well for growth and future expansion."
"The market has fully embraced the WKND! brand and our relationships on the ground are really excited as we build a strong retail presence, growing the line with our Ruby Mae's portfolio," said Mr. Travis Hunter, Ruby Mae's CEO. "We are paving the way to a dominant market share overall, and the addition of the Orchard Heights branded product line is being met with great enthusiasm from buyers."
The Oklahoma medical marijuana industry has become one of the largest and most valuable in the USA, the market has exceeded predications with over 200,000 medical cannabis patients registered, equal to 5% of the state's 4,000,000 population and over $350 million in sales in the first year.1 Compare that to Florida with 21,000,000 residents, with only 300,000 registered medical marijuana users equaling 1.4% of the population2 and it is evident that Weekend's strategy to be an early mover in Oklahoma is delivering results.
"We know we have fantastic brands, that has been proven out with the response from partners and retailers, the key now is to continue advancing our strategy to grow brand awareness with consumers, build sustainable and profitable relationships and build off of each success by launching in up and coming states like Oklahoma, where there is opportunity to have a strong. profitable market presence for our brands," added Mr. Backus.
1 https://mjbizdaily.com/oklahoma-medical-marijuana-industry-on-pace-to-hit-350-million/
2 https://www.fool.com/investing/2019/12/04/for-cannabis-oklahomas-more-than-ok.aspx
For further information, please contact:
Mr. Chris Backus, President & CEO, Director
Telephone: 1(236) 317-2812
E-mail: [email protected]
About Weekend Unlimited Inc.
Weekend Unlimited is a lifestyle-based recreational cannabis company. The Company is developing premium products designed to deliver life's highs, anytime, anywhere. With a presence in both the U.S. and Canada, Weekend Unlimited is well-positioned to launch and scale the brands that will define recreational cannabis. Learn more at www.weekendunlimited.com.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
SOURCE: Weekend Unlimited Inc.