Arev Brands International Ltd (CNSX:AREV) is not wasting any time and has already started scaling up the manufacturing and commercialization of its recently acquired Bare Topicals brand, which, it says, will lead to near-term revenue.
As reported on November 12, Arev completed the purchase of the brand of cannabis-based skin creams, from Alternative Extracts Inc for C$160,000 in stock.
"This acquisition is another that adds to the portfolio of products AREV continues to assemble,” CEO Mike Withrow had said in a regulatory release.
The Bare Topicals portfolio includes: Bliss -a love oil; Heat - arthritis pain relief stick Lifted - a lip balm; Magik - a pain relief and healing stick; Protect - a hand and body lotion.
There is also Recover - a pain relief cream; Releaf - a pain relief spray; Release - a massage oil; Soothe - eczema and problematic skin treatment.
Arev said it will be using the same proven award-winning formulations but will now include hemp root extract.
"The use of hemp root extracts enables the Bare brand to be sold and shipped anywhere in the world, bringing near-term revenue to Arev," it said.
"In addition to the hemp root extract, another improvement is a new base that hydrates the skin better, leaving it silky smooth."
In September this year, the group completed its acquisition of cannabis strain-focused BC Bud Depot (BCBD) in a C$5.25mln deal.
Director Nils Rehmann resigns
BCBD has one of the world's largest seed banks and has won over 40 awards over the past 14 years.
Its breeding methods for new cannabis strains are available for licence to production companies.
In 2004, it was the first Canadian company in history to win a top strain at an international competition with 'BC God Bud' - now Canada's most award-winning strain of all time.
Last week, Arev said its BC Bud Depot subsidiary had begun an intensive phase of developing cannabis strains.
Vancouver-based Arev said in a press release the unit was working to fulfil the demand for cannabis strains in the medicinal and recreational markets.
Also in today's release, Arev said that director Nils Rehmann had resigned from the firm due to time constraints, with immediate effect.
Shares shed 8.2% in Toronto to $0.225.