WOONSOCKET, RI, July 17, 2019 /CNW/ - Abacus Health Products, Inc. (CSE: ABCS) (OTCQX: ABAHF) ("Abacus" or the "Company") today announced a new retail purchase order by Valu Merchandisers Company for its line of CBDMEDIC™ products.
Valu Merchandisers – a cooperative food distributor serving over 3,800 independently-owned supermarkets in 30 U.S. states – confirmed an order with Abacus that will see 11 SKUs from the CBDMEDIC™ product line placed in 350 retail stores across six states, with expansion to more than 1,000 locations over the next six months. This new purchase order increases Abacus' total retailer store count to approximately 2,550 locations in 15 states throughout the U.S. The Company remains on track to reach 4,000 retail locations by the end of Q3 2019, as per the guidance previously provided by management.
"Valu Merchandisers is a trusted name in the health and wellness segment and we are delighted that they have chosen to introduce CBDMEDIC™ to their network," said Perry Antelman, CEO of Abacus. "This purchase order further illustrates how we continue to execute on our retail growth strategy and add retail chains with significant presence across the United States."
About Abacus Health Products, Inc.
Abacus is a company engaged in the development and commercialization of over-the-counter (OTC) registered topical medications with active pharmaceutical ingredients and which contain organic and natural ingredients, including a cannabinoid-rich hemp extract containing CBD from Cannabis sativa L plant. Abacus' products are aimed at the rapidly growing markets for topical pain relief and therapeutic skincare and are based on proprietary patent-pending technologies developed by Abacus. Abacus' formulations combine advanced science with organic and natural ingredients to provide safe relief. Abacus currently offers two lines of products: (i) CBD CLINIC™, marketed to the professional practitioner market, and (ii) CBDMEDIC™, marketed to the consumer market. Abacus' products are offered across the United States and are produced by a contract manufacturer in a cGMP compliant and audited manufacturing facility.