Further decreasing product costs for its consumer brands and increasing accessibility to CBD pouches within the UK market.
LONDON and BELFAST, UK / ACCESSWIRE / December 15, 2021 / (CSE:POKO) - Poko Innovations, Inc., an award-winning international UK based CBD & Fintech company, is pleased to announce that their fully owned subsidiary Poko Group UK Ltd has recently signed an agreement with Active CBD Manufacturing Ltd. to allow Poko Group to reduce the final purchase cost of its CBD pouches, significantly increasing its ability to close distribution deals and improve accessibility to this product in the UK market.
Active CBD Manufacturing Ltd. is a UK based contract manufacturer working within the CBD edibles space and is specializing in CBD edibles including CBD Pouches. CBD pouches are a natural, vegan friendly, non-smokable and non-vapable method of consuming CBD. These discreet pouches are made from natural coconut fibres and it is one of the main consumer products Poko is focused on within the UK and EU markets.
The deal is positioned to allow Poko to significantly reduce their production cost through a) being supplied the raw materials at cost, where they previously had paid a 100% margin and b) Be given direct access to the production factory where the manufacturing takes place. This agreement is in exchange for an undisclosed number of share options in Poko Innovations Inc. (POKO:CSE).
David Wood, Business Development Director says of the partnership, "I believe Poko has a bright future and I feel share options gives us an upside to be part of that success story we believe Poko will be. By helping Poko reduce its costs, we believe we are giving them the support Poko needs to finalize deals with distribution companies, we have belief in its management team and their strategy for the UK and EU markets"
Poko's CBD Pouches will be launched via the UK market and are positioned as a solution for CBD users who do not enjoy the strong taste often associated with CBD tinctures and are looking for a discreet, smoke and vape free solution to taking CBD throughout the day, to help with anxiety, stress and sleep. It will also be positioned to work as an addition to the popular snus pouches on the market, providing a product that allows the user to switch from nicotine to CBD products in the evening to improve their sleep cycle.
The pouches come in 8 different flavours; Berry Breeze, Berry Blast, Mango Crush, Strawberry Haze, Blackcurrant Anise, Glacial Mint, Ice Apple and Cherry Orchard. Each tin consists of 20 individual pouches and each pouch contains 20mg of CBD. The method of consumption allows for optimal CBD bioavailability. The pouches retail at £15 for the individual tin or £36 for a set of three.
Strategic opportunities for Poko:
- Reduces the per unit cost of its pouches.
- Gives greater control over the production process with direct access to the factory.
- Increase margins on existing CBD pouches to help increase the distribution network.
- Increase accessibility to our CBD pouches to the consumer market through increase in distribution.
"This agreement is another very important step in our aim to be a profitable, sought after CBD brand in the UK market, by reducing the cost base we have increased our potential of further large distribution deals and made our margins more lucrative for our existing partners." David Hughes CEO and Co-Founder stated. "We strive to produce products that offer innovative methods to consuming CBD and integrating it into peoples lifestyles, and for us accessibility to the product is key, we feel this partnership is an excellent step towards our CBD pouches being available across the UK".
The Poko Story
Poko Innovations Inc. has been focused in the reduction of the cost base for its consumer products to ensure it can gain a foothold in what we consider to me a much less crowded market then i the US or elsewhere in North America. By establishing a foothold in the UK and EU in early 2022 we believe we can create high lifetime value customers and high shareholder values.
Once established the management will focus its efforts on the fintech branch of the business where there is additional value to be achieved for shareholders.
Poko Innovations, Inc. is an award-winning international UK based integrated company with a robust portfolio of CBD brands, a financial services platform, LumiPay, a range of consumer brands and a roster of marketing and media sites.
The business is broken into independent units that work together to leverage their strengths:
Poko comprises of four segments:
- Consumer Brands:
Poko is the group's flagship award winning skincare brand, poko Canndid, brings fun, affordable and easy to use CBD products to the markets - Fintech Platform:
Lumipay is an easily-integrated payment platform gateway service www.lumi-pay.com - News and Media Sites:
The Extract is a B2B news and media sites
Candid Magazine, a B2C culture magazine www.candidmagazine.com - White labelling Service:
Cannmed Products brings together several vetted, compliant CBD manufacturing companies www.cannmedproducts.com
About The Poko Group, Ltd
The Poko Group is a collection of CBD focused companies that bring innovative, inspiring solutions to the CBD industry through the company's leading platforms which, when working together, form a complete ecosystem.
The Poko Group has is an award-winning UK CBD company that has developed a unique business model comprising complete "turnkey solutions," including fintech payment processing and white label opportunities. Poko plans to export its signature products to the EU and the USA. For more information, please visit https://www.pokogroup.com/.
Forward-Looking Statements
With the exception of the historical information contained in this news release, the matters described herein, may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded by, followed by, or that otherwise, include the words "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans" and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could", are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. These statements, involve unknown risks and uncertainties that may individually or materially impact the matters discussed, herein for a variety of reasons that are outside the control of the company, including, but not limited to, the company's ability to raise sufficient financing to implement its business plan, the impact of the COVID-19 pandemic on the company's business, operations and the economy in general, and the Company's ability to successfully develop and commercialize its proprietary products and technologies. Readers are cautioned not to place undue reliance on these forward- looking statements, as actual results could differ materially from those described in the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the company's filings with the SEC, which are available at the SEC's website (www.sec.gov). The company disclaims any intention or obligation to update, or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Relations
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Porter, LeVay & Rose, Inc.
T: (973) 865-9357
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SOURCE: Poko Innovations Inc
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