New Age Beverages Corporation (NASDAQ:NBEV) shares climbed after the company announced early Tuesday that it was bringing its slate of cannabidiol products to Hong Kong.
The Colorado and Utah-based company is launching its 'NHANCED CBD line of oils, creams, and lotions on June 18. Hong Kong represents the company’s first international forray, and an additional 58 countries are expected to follow in later in 2019.
Shares climbed 2.7% to $4.72.
The products will be sold through direct-to-consumer consultants and via www.NHANCEDCBD.com. The company’s body cream contains 150 milligrams of CBD, the roll-on gel contains 200mg and the CBD oil has 500mg.
"The Health Sciences Division at New Age is so proud to bring all these superior clinical products to consumers.” Chief Medical and Scientific Officer Jerry Haase said. “We have years of study in cannabinoids, and one of the most extensive arrays of intellectual property in the beverage industry at New Age. Our launch of CBD leverages that depth of expertise to provide a highly efficacious CBD portfolio to consumers."
New Age Beverages operates brands including Tahitian Noni, TeMana, Búcha Live Kombucha, XingTea, Coco-Libre and Marley, among others.
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