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Mota Ventures sees 'exceptional' sales in March and is set to launch new product line

The Immune Support product line has been received exceptionally well by consumers since it launched on March 14 this year

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Mota Ventures has its sights set on becoming a vertically integrated CBD company with operations in Europe and the Americas

Mota Ventures Corp (CSE:MOTA) (OTCMKTS:PEMTF) has described sales in March as "exceptional" with products under its First Class CBD brand driving the unexpected growth.

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.

READ: Mota Ventures brings in C$1.72 million to advance First Class CBD brand

"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.

---Updates for share price---

Contact the author at [email protected]

Quick facts: Mota Ventures

Price: 0.395 CAD

CSE:MOTA
Market: CSE
Market Cap: $39.38 m
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Full interview: Mota Ventures sees strong sales increase amid COVID-19 Crisis

Mota Ventures (CSE: MOTA-OTCMKTS: PEMTF) CEO Ryan Hoggan joined Steve Darling from Proactive Vancouver to discuss how the company is doing during the Corona Virus crisis and how it has affected sales. Hoggan also told Proactive about a new product line the company has started and how excited...

on 1/4/20

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