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Zoetic International starts US rollout; finds UK retail partner
StockMarketWire.com
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Cannabidiol group Zoetic International said a rollout of its Chill tobacco alternative products had commenced across the Asian American Trading Associations Council's convenience store distribution network.
The company said its products would 'take prime position' within an initial 10,000 stores in the US.
A focus during this time would be on determining favourable geographic targets whilst gathering data needed to optimise continued rollout operations.
'Initial product shipments are anticipated in the coming weeks, with the programme's early requirements set to be satisfied with existing inventory and available funds,' Zoetic said.
'With initial test markets set to span from New York to California, these key strategic geographies will inform our wider strategy, enhance brand recognition, and allow us to execute a mass market rollout that is repeatable and scalable.'
In the UK, meanwhile, Zoetic said it had executed an agreement with a prominent retail partner there.
'This milestone agreement has the potential to facilitate a large-scale rollout across some of the UK's most recognised high street brands, granting the group further exposure to this rapidly growing market,' the company said.
The contract was conditional on Zoetic achieving Food Standards Agency novel foods authorisation, for which an application had been submitted.
At 9:29am: (LON:ZOE) share price was 0p at 38.5p
Story provided by StockMarketWire.com
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