Toronto-headquartered Humble & Fume Inc. (CSE: HMBL) (OTCQX: HUMBF) has signed an exclusive distribution and sales deal to distribute Cookies products in California.
On Thursday, the retailer announced it signed the deal with the popular brand as a continuation of the company’s ongoing commitment to expand and help Cookies expand throughout California.
“We are proud to be associated with Cookies, the most recognized cannabis brand in California,” Humble CEO Joel Toguri said.
“Our focus is on growth and expansion, and to succeed you must seek out and build relationships with best-in-class brands,” Toguri said.
“Cookies is without a doubt best-in-class in the world of cannabis and is always top of mind with consumers.”
San Francisco-based Cookies was founded in 2010 by Gilbert Anthony Milam, commonly known by his rap alias Berner, and his growing partner Jai.
“We’re excited to partner with Humble & Fume as we look to broaden the reach of our Cookies brand,” said Cookies president Parker Berling.
“Their deep expertise in distribution makes them the ideal partner to support Cookies’ home state.”
Read more: Humble & Fume forms joint venture, expands cannabis distribution to California
Read more: Humble signs sales agreement with California-based LEUNE
This May, Humble & Fume reported third-quarter net revenue of $16 million which is a decrease of 4 per cent from the last quarter. The company highlighted its quarterly expansion in California and onboarded partners during the third quarter that are anticipated to contribute to an annualized revenue of US $25-35 million as of the next quarter.
Company stock went up by 35 per cent on Thursday to $0.70 on the Canadian Securities Exchange.
