CBD Life Sciences Inc. (OTCMKTS:CBDL) on October 14, 2021, through the wholly owned subsidiary, LBC Bioscience Inc, announced that the firm has commenced on augmenting its rate of production of CBD-based products. This is in response to robust ecommerce demand after the launch on Amazon and new website launch with Alibaba happening soon.
The company is keen on upgrading ecommerce platform as well as expanding on amplifying digital presence for driving growth in sales.
President & CEO Lisa Nelson said that the company has witnessed a massive response and hence ramp up of ecommerce distribution activity is being done. Nelson said that the investments have been made and it is incredible to see the way this is going forward.
Nelson said that the product is performing well and shows how more number of states are legalising cannabis.
The company is again planning on ruling the industry through expansion of products and CBD is adding Alibaba to it as well.
The products available are edibles, cartridges as well as different choices of tinctures that the company is developing.
CBD Life Sciences Inc. is also in process on closing 3rd retail location besides recreational marijuana facility, which will be significant for expansion as well as revenues for CBD Life Sciences Inc.
Market Reaction:
On Wednesday, CBDL stock remain unchanged at $0.0004 with more than 836.31 million shares, compared to its average volume of 467.33 million shares. The stock has moved within a range of $0.0003 – 0.0004 after opening the trade at $0.0003.
