Weekend Unlimited Industries Inc (CSE:POT) (OTCMKTS:WKULF) has had a great start to its operations in Oklahoma, where its branded products are now available in 35 stores, with 2,020 units sold since mid-December.
As a result, the cannabis-focused firm said it will accelerate its launch of Orchard Heights branded products in the US state, with a target to have them in the market by the end of the first quarter.
READ: Weekend Unlimited announces tie-up with True North Cannabis, name change and details of share consolidation
"With approximately 1500 retail stores in operation in the State of Oklahoma, in the first month the sales team has made pitches to approximately 15% of the market and delivered tremendous results, adhering to our mandate to have profitable operations," said Chris Backus, Weekend's CEO.
"We are targeting pitches to 300 new stores in the next month as the response to the brand has been outstanding. Our partners in Oklahoma, Ruby Mae's, are absolutely terrific and delivering on all our shared targets boding well for growth and future expansion."
"The market has fully embraced the WKND! brand and our relationships on the ground are really excited as we build a strong retail presence, growing the line with our Ruby Mae's portfolio," added Travis Hunter, Ruby Mae's CEO.
"We are paving the way to a dominant market share overall, and the addition of the Orchard Heights branded product line is being met with great enthusiasm from buyers."
The medical cannabis sector in Oklahoma has become one of the largest and most valuable in the USA.
It has exceeded predictions with over 200,000 medical cannabis patients registered, equal to 5% of the state's 4 million population and over US$350 million in sales in the first year.
Weekend contrasted that with Florida, with its 21 million population and only 300,000 registered users. It is evident that Weekend's strategy to be an early mover in Oklahoma is delivering results, the company said.
Name change announcement
Last Monday, the firm said it would change its name to Weekend Unlimited Industries Inc, as part of requirements under its move to British Columbia.
It also reported a tie-up with Calgary-based True North Cannabis, which it says, will realize the full value of its Northern Lights Organics hemp operation.
"True North has a proven track record for creating value for hemp growers across Canada by providing guidance and technology to produce commercially viable, extract-ready CBD biomass from industrial hemp, said Weekend in a statement.
Shares ticked up 1.54% to C$0.33 in Toronto.
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