By Joe Hoppe
Shares of Chill Brands Group PLC rose on Wednesday after the company said it has launched a new sales pilot program to sell its CBD products at cannabis dispensaries in the United States.
Shares were up 0.45 pence, or 17%, at 3.05 pence by 0818 GMT.
The London-listed CBD products company said the products will initially go to 20 fully licensed pharmacies while it gathers sales data and customer insights. Additional locations will be introduced in the fourth quarter of 2022.
Following the completion of the pilot phase, Chill plans to expand its pharmacy sales to additional locations in the United States.
Consumers who frequent dispensaries tend to have higher discretionary income than convenience store shoppers, are already familiar with and interested in cannabinoids, including CBD, and are open to trying new brands and products, the company said.
Email Joe Hoppe at joseph.hoppe@wsj.com
