VANCOUVER and SAN DIEGO, July 9, 2019 /CNW/ - Phivida Holdings Inc. (CSE: VIDA OTCQX: PHVAF) ("Phivida" or the "Company"), is pleased to announce that it has begun to sell and distribute beverages, tinctures and capsules in retail stores in the states of California and Colorado. This distribution complements Phivida's e-commerce presence and further supports its goal of becoming a leading provider of hemp-infused products.
"Through the combination of our National Account selling efforts and our direct-to-store distribution platform in each state, we are committed to providing food and beverage choices that allow customers to live a balanced and healthy lifestyle," said Jim Bailey, CEO of Phivida Holdings Inc. "We are particularly pleased to have finally established a shelf presence in these regions where consumers are health conscious and have a high awareness of the benefits of active hemp."
Phivida's selling efforts will be supported through the combination of a robust sampling strategy that offers customers with both in-store and out of store experiences that will help create trial, and an accompanying marketing strategy that will help build awareness, and momentum amongst our target demographic.
As a legislative recap, the Company is pleased with the progress in the state of California where Bill AB 228 has received the votes required to move it to committee and following that, signing by the Governor. Phivida has been watching this closely as California is the most populous state in America with almost 40 million people and high awareness of CBD and its benefits.
The Company was also pleased to see the signing of Bill 1325 in Texas, which allows for the sale of CBD oils and other hemp-derived products containing less than 0.3 percent of THC. While further definition is required as it relates to CBD-infused edible products, Texas is moving in the right direction. This state is important for Phivida's growth strategy as it is home to almost 30 million people, whose economy continues to grow in a very business-friendly state.
Both pieces of legislation are positive for the business operations of Phivida and all its brands and we are confident we will see many more states follow with their own legislation. For more information on Phivida products, please visit www.feelOki.com and www.hempvidaplus.com
ABOUT Phivida Holdings Inc.
Phivida Holdings Inc. is headquartered in Vancouver, BC with operations in San Diego, CA. Phivida is a premium functional food and beverage company focused on whole plant nutrition and natural ingredients that help best maintain overall health and balance in the human body. The company infuses organic active hemp extract into a variety of premium beverages and clinical products for everyday health. Phivida embraces and celebrates a return to organic, natural, plant-based foods and beverages, and a focus on holistic health and wellness. The mission is to help reduce the world's dependence on pharmaceuticals and provide food and beverage choices that allow customers to live a balanced, healthy lifestyle. For more information, visit phivida.com.
SOURCE Phivida Holdings Inc.