Nabis will be the sole supplier of vapor pods in the US state of Arizona, including custom pods sold under the company’s recently launched BIS brand of CBD products.
The Wisp system functions as a home appliance, the company said, and is the world’s first single-use pod vaporizing system.
"We are thrilled to announce our strategic agreement with CannaKorp,” Nabis CEO Shay Shnet said in a statement. “This ‘thoughtful technology’ used with our herbal blends offers choice, expertise and consistency in a new way, keeping in line with our mission to innovate and become a recognized leader in the industry.”
As CannaKorp’s exclusive Arizona provider, Shnet added, Nabis will also produce any future brands that CannaKorp partners with, in the state.
"This partnership brings an exciting new approach to our entrance in the state of Arizona,” CannaKorp CEO Saul Niddam said in the statement. “Not only will Nabis sell ultra-premium product Wisp Pods at their soon-to-launch retail stores, but they will also provide a statewide, wholesale distribution network for the Wisp System.”
Shares of Nabis slid 10% to C$0.09 on Bay Street on Wednesday and 6.9% to US$0.07 in New York.
—Updated to include stock movement—
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