Wildflower Brands Signs Distribution Agreement for South Africa
May 22nd, 2019
News, Top News
VANCOUVER, British Columbia, May 22, 2019 (GLOBE NEWSWIRE) — via NetworkWire – Wildflower Brands Inc. (CSE: SUN, OTC: WLDFF) (the “Company”) is pleased to announce the signing of an exclusive distribution agreement for the South African market. Exclusivity was granted to Africann, a local company specializing, amongst others, in the distribution of best-of-breed North American hemp products, given its access and distribution channels in the local market. Africann currently distributes to all leading pharmacy, health and wellness chains and independent pharmacy groups in South Africa.
The Brightfield Group announced market intelligence stating the hemp CBD market will hit $22 billion in sales by 2022. A more recent study by Brightfield states that CBD products will account for 25% of all global cannabis sales. International markets are opening up to CBD-based products as regulatory bodies, such as the World Anti-Doping Agency and the United Nations’ World Health Organization, are increasingly reclassifying CBD as a safe compound that should not be prohibited.
William MacLean, CEO of Wildflower Brands, says, “More and more distributors are approaching us from all over the world to distribute Wildflower products. The consistent trend is that they are looking at the U.S. market to find CBD products to test and see what brands would fit the broadest consumer market. As global opportunities open up, Wildflower will see huge benefits from establishing itself early-on as a premium wellness brand. Expect to see Wildflower in many more newly emerging markets.”
“We are very excited to have the opportunity to bring the Wildflower range to South African consumers,” says Matthew Moodley, CEO of Africann, “Many years of research and design have gone into their products and we believe they will be well received by our market, which is eager to gain access to leading international wellness brands.”
Africann is a pan-African group focusing on the distribution of hemp and medicinal cannabis products. In addition, it holds several cultivation and manufacture licenses for medicinal cannabis in various African territories. Africann has built distribution channels to supply hemp and cannabis-based pharmaceuticals and nutraceuticals into the South African medical, pharmaceutical, pet and health & wellness markets.
Wildflower Brands is a Vancouver-based company developing and designing brands that focus on plant-based health and wellness products. All of our brands work in synergy, toward becoming a global wellness leader.
Investor Relations Contact:
Will Elston, Investor Relations
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