Specifically, its Immune Support product line has been received exceptionally well by consumers since it launched on March 14 this year, the e-commerce focused company told investors in an update.
"The total number of customers acquired by First Class CBD in March 2020 is 20,959, including 6,419 immune customers with an initial average spend of C$218.40 per customer," it added.
Mota Ventures, based in Vancouver, has its sights set on becoming a vertically integrated CBD company with operations in Europe and the Americas.
The company aims to establish sales channels and a distribution network internationally through its acquisition of the brand, Sativida and First Class CBD.
The company also revealed it will be launching a new brand - Nature’s Exclusive CBD - on April 6 this year. This will introduce a line of Immune Support and CBD products with a higher content of CBD.
"The month of March has been exceptional, with new customer signups exceeding expectations," said Ryan Hoggan, CEO of Mota.
"We believe this is a testament to our ability to adapt to the fast-paced eCommerce sector and ability to identify upcoming trends in consumer demand. I am very excited with the rapid progress and look forward to releasing March results in the upcoming days."
Shares advanced 7.7% in Toronto to stand at C$0.42 each.
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