Company Announcements

Business Update

Source: RNS
RNS Number : 7479D
Zoetic International PLC
01 July 2021
 

 

 

 

1 July 2021

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310

 

Zoetic International plc

("Zoetic", the "Company" or the "Group")

 

Business Update

 

Zoetic, the international CBD group listed on the Standard Segment of the Official List, is pleased to provide the following update on its operations.

 

Overview

 

●     Launch of the thechillwayuk website in the UK (www.thechillwayuk.com):

-      Newly developed website is now live, marking the launch of Chill CBD smokes in the UK market; and

-      Branding adapted to increase appeal to the UK's fast-growing and dynamic market. 

 

●     Acquisition of Chill.com (www.chill.com) website domain complete:

-      Rare and popular domain acquired to support brand protection and development efforts; and

-      Domain provides unique marketing opportunities with more information to follow in due course.

 

●     Further sales to the Company's US distributor

-      Sales to the Company's US distributor for a further US$0.72 million for 'Chill' brand CBD smokes and chews to facilitate re-orders and the continued roll out of the products.

 

Chill Website Launches in the UK

 

Further to the Trading Update released on 16 April 2021, development of the thechillwayuk.com website has been completed. The UK online sales hub for the Company's 'Chill' range of CBD smokes and gummies went live on 30 June 2021.

 

The website, www.thechillwayuk.com, provides UK consumers with a direct way to order Chill branded products, and currently offers both smokes and CBD-infused gummies. The site has been tailored to appeal to UK consumers, with refreshed branding and a simple user experience that caters to core demographics in the region.

 

The 'Chill' brand has enjoyed significant pre-launch interest in the UK, and the Company looks forward to reporting on its performance in the future.

 

Acquisition of Chill.com

 

The Company has acquired ownership of the unique 'Chill.com' domain name, which will serve to support the growth of its global brand.

 

The rare website name is one of markedly few domains that have a linguistic and marketing dynamism, providing unique online sales and business development opportunities. Chill.com will provide a fantastic worldwide marketing channel for our range of CBD products.

 

Further Sales to the Company's US Distributor

 

The Company is pleased to report that it has made further sales of US$0.72 million for its 'Chill' brand of smokes and chews.

 

These sales are to facilitate re-orders from existing stores stocking the Chill products and the continued roll out of the products to new sites and regions. This follows the announcement on 17 May 2021 of sales in excess of US$1.0 million and US$0.34 million previously in the current quarter to its US Distributors.

 

The 'Chill' brand continues to gain traction as it enters new stores and regions across the United States.

 

The Company looks forward to providing an update on the quarter (March 2021 to June 2021) in due course.

 

Trevor Taylor, Co-CEO of Zoetic, said: "This is a decisive moment for the Company as our Chill-brand CBD smokes launch in the UK. We are excited to enter this rapidly expanding and yet underserved market that currently has little access to CBD smokes. We are keen to build on the brand's successes in the US where it has gone from strength to strength. The growth of our global consumer base only looks set to grow as we launch a dynamic UK website and continue to see high-value repeat sales in the US."

 

Antonio Russo, Co-CEO of Zoetic, added: "The acquisition of Chill.com opens up a highly complementary sales and marketing channel adding significant value as we build out a robust international retail footprint and we look forward to updating our shareholders with our plans for the development of the Chill.com site."

 

 

- Ends -

 

Publication on website

 

A copy of this announcement is also available on the Group's website at www.zoeticinternational.com

 

Media enquiries:

 

Zoetic International plc

 

c/o Buchanan

Trevor Taylor, Co-CEO

Antonio Russo, Co-CEO

 

 

 

Allenby Capital Limited (Financial Adviser and Broker)

 

+44 (0) 20 3328 5656

Nick Harriss/Nick Naylor (Corporate Finance)

 

 

Kelly Gardiner (Equity Sales)

 

 

 

Buchanan

 

 

Henry Harrison-Topham / Jamie Hooper / Ariadna Peretz

 

Tel: +44 (0) 20 7466 5000

zoetic@buchanan.uk.com

 

www.buchanan.uk.com

 

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