Indiva Announces Extension to License Agreement With Award-Winning Wana Brands Inc.

LONDON, Ontario, Feb. 18, 2021 (GLOBE NEWSWIRE) -- Indiva Limited (the “Company” or “Indiva”) (TSXV:NDVA) (OTCQX:NDVAF), the leading Canadian producer of cannabis edibles, is pleased to announce an amendment and extension to its license agreement with Wana Brands (“Wana”) Inc.

Under the terms of the amendment to the license agreement, Indiva will continue to have the exclusive right to produce and distribute Wana products, including gummies and soft chews, in Canada. The amended agreement shall be for a five year term, and may be extended for three additional five year terms.

As previously announced in the press release dated February 9, 2021, Wana Sour Gummies continue to be the most popular edible product in the Canadian cannabis industry. Wana Sour Gummies hold the top three edible SKUs in the country, and on their own account for greater than 30% of the edible category. Adding to their many awards, Wana Sour Gummies were voted Top Edible in Canada for the year 2020 by Kind Magazine.   Wana has the largest footprint of any cannabis-infused edibles brand in North America. Currently available in Arizona, California, Colorado, Florida, Illinois, Maryland, Michigan, Missouri, Ohio, Oregon and Oklahoma dispensaries, with Massachusetts among the states imminently coming online, Indiva is Wana’s first international partner.

“We could not be happier to extend the contract length of our agreement with Wana, and establish a framework under which Indiva will continue to provide the top selling edible products in Canada to provincial wholesalers and of-age consumers for decades to come,” said Niel Marotta, President and Chief Executive Officer of Indiva. “The results from working with Wana and their team, and the success of Wana products in Canada, have exceeded even our own high expectations, and we look forward to continuing this strong relationship.”

“Indiva’s focus on infused product manufacturing--and specifically edibles--was incredibly attractive to us as we were seeking our first international partner. That expertise has resulted in Wana’s proven and sustained success in Canada,” said Nancy Whiteman, CEO of Wana Brands. “Wana leverages a decade of cannabinoid expertise and recipe refinement to deliver one of the most delicious, consistent and effective cannabis infused products available in Canada. We look forward to being able to provide Wana products to even more Canadian customers through our growing partnership with Indiva.”