Cannabis Sativa Inc. (OTCMKTS:CBDS)
Cannabis Sativa Inc. (OTCMKTS:CBDS) is among hundreds of companies in the cannabis space aggressively pushing for market share as the sector continues to expand. Known for developing and licensing natural cannabis products, the company is fresh from unveiling a ‘hi’ branded, infused-honey product made up of rich African honey infused with CBD. The company has also confirmed the acquisition of intellectual assets for cannabis mints and sprays.
‘Hi’ Honey Product Line
David Tobias, Cannabis Sativa Inc. (OTCMKTS:CBDS)’s President, has confirmed plans to market the ‘Hi’ honey product for medicinal purposes. The product is supposed to address inflammation and commercialization of the new product should strengthen the company’s product portfolio and help increase revenues.
The unveiling of the Hi Honey product follows the acquisition of proprietary, exclusive product formulations and manufacturing methods for the White Rabbit brand. The new product line comprises of oral cannabis sprays and low-dose cannabis mints. Cannabis Sativa Inc. (OTCMKTS:CBDS) has already signed a licensing agreement for the manufacture and sale of the White Rabbit products in California.
The company is now planning to add more products to its California licensing agreement as it looks to grow its sales and market share. There are also plans to engage additional licensees in the state as the company looks to grow its footprint.
“We are pleased with the White Rabbit product and are excited about the relationship being developed in the California market,” said Mr. Tobias.
Separately, it is emerging that Mr. Tobias, company President, sold some of his company stock. The latest regulatory filing shows that the executive sold 5,000 shares of the company’s stock at an average price of $4 a share. Following the sale, the executive now owns 4,294,042 shares valued at about $17.2 million
Cannabis Sativa Inc. (OTCMKTS:CBDS) stock was lower in Friday’s trading session after shedding 2.74% in market value to end the week at $3.90 a share. The stock is currently trading in a tight range between $3.63 and $4.09 a share with a 52-week low of $1.52 a share and a 52-week high of $9.50 a share.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading.