Florida-based cannabis company Bhang went public on Thursday, with shares in the company beginning trading on the Canadian Stock Exchange. Shares in the company are listed under the ticker symbol BHNG and were up more than 70 percent in Friday morning trading.
Bhang currently owns a family of eight active brands with more than 100 cannabis and hemp products including cannabis edibles, beverages, oral sprays, pre-rolls, terpenes, and hemp-derived CBD consumer goods. The brand’s products are manufactured, sold, and distributed by the company directly and through licensing agreements with partners in jurisdictions with legal cannabis.
Bhang Expanding Its Reach
Bhang’s licensing arrangements include partnerships with Origin House/Crescp in California, Trulieve in Florida, and a 50/50 joint venture with Indiva for distribution in Canada and other international markets. The company’s plans for 2019 include launching eight new brands, offering more products, and expanding its availability to 2,000 stores from the current count of approximately 1,000.
Scott Van Rixel, the CEO of Bhang and a 2018 selectee for the High Times 100, said in a press release that going public will help fuel the company’s expansion goals.
“We’re proud to announce this major milestone for Bhang and the industry, as we see