Publicly traded INDIVA Ltd. on Thursday announced it was making a $1 million investment into edibles licensor Bhang Corp. to create a new international joint venture.
The pending deal gives Ottawa, Canada-based INDIVA exclusive rights to manufacture and sell Bhang products in Canada and the right to export those products internationally.
INDIVA is the manager of the joint venture. The company has committed to investing $5 million in building cannabis-processing infrastructure. Bhang, a Nevada-based corporation launched by a certified master chocolatier, is contributing its intellectual property, including trademarks and patents, to the venture and will collaborate with INDIVA on sales and marketing.
Bhang, which has been referred to as the “General Mills of the cannabis industry,” licenses cannabis chocolate bars, as well as a collection of vapes, gums and mouth sprays. INDIVA is a Canadian supplier of medical-grade cannabis. Each of the parties say they have committed