Indiva Limited (OTCQX:NDVAF) (TSXV:NDVA) has entered into a licensing and manufacturing agreement with California-based Dime Industries Inc. to bring its vape brand portfolio to Canada. Following on Indiva's success in producing and distributing chocolates and gummies in Canada, the launch of Dime products in Canada will expand Indiva's portfolio to include vape products, incorporating proprietary hardware and cannabis formulations. The initial term of the agreement is for five years, with the agreement automatically renewing for three additional five-year terms.
Dime's headquarters is based in Orange County, California. Founded and led by Mike Marz, Dime is one of the leading producers of cannabis vape products in the United States. Dime's vape portfolio includes ten different flavors, each of disposable and 510 thread carts, as well as multiple flavors of live resin carts. Dime currently manufactures and distributes its products in California, Arizona and Oklahoma, where it is legally permissible to do so under applicable state laws.
"We are delighted to partner with Dime to bring their innovative brand of proprietary, high-quality vape products to the Canadian market," stated Niel Marotta, CEO of Indiva. "This is our first entrance into the vape category in Canada, and we could not be more excited about the quality of our chosen licensing partner and their products. Indiva distributes products to all 13 provinces and territories in Canada, and remains committed to growing its top-line and market share organically in Canada -adding vapes to our portfolio of award-winning products is expected to help Indiva accomplish just that. We are very excited to bring Dime vape products to Canadian cannabis enthusiasts."
Indiva intends to begin production of Dime vape products in Canada as soon as possible, with initial deliveries to provincial wholesalers targeted for Q3 2022.
Photo: Courtesy of Diyahna Lewis on Unsplash
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