By Joe Hoppe
Shares in Chill Brands Group PLC rose Wednesday after the company said that it has launched a new sales pilot program that will see its CBD products sold from cannabis dispensaries in the U.S.
Shares at 0818 GMT were up 0.45 pence, or 17%, at 3.05 pence.
The London-listed CBD-products company said the products will initially enter 20 fully-licensed dispensaries as it gathers sales data and customer insights. Additional locations will be onboarded in the fourth quarter of 2022.
Following the completion of this pilot phase, Chill intends to scale its dispensary sales to additional locations across the U.S.
Consumers that frequent dispensaries typically have higher levels of discretionary income than convenience store shoppers, are already aware of and interested in cannabinoids including CBD, and are open to trialing new brands and products, the company said.
Write to Joe Hoppe at joseph.hoppe@wsj.com
