Indus Holdings, Inc. Expands Operations Into Nevada And Oregon
California cannabis leader set for tremendous growth after acquiring facilities in neighboring states
SALINAS, Calif., May 14, 2019 /PRNewswire/ — Indus Holdings, Inc. (“Indus”) (CSE: INDS), announced that it has signed a definitive agreement to acquire the assets of W The Brand (“W Vapes”), a multi-state manufacturer and distributor of cannabis concentrates, cartridges and disposable pens, in a cash and stock transaction. The transaction solidifies Indus’ position as a market leader and dominant force in the cannabis industry through expansion of its operations beyond California into the cannabis-friendly states of Nevada and Oregon.
We are excited to expand the Indus footprint as it creates further awareness to our brands and more opportunities for our incredible team. Having established a dominant presence in the world’s largest cannabis economy, we are taking a natural step forward, and we’re excited to introduce Nevada and Oregon consumers to our lineup of award-winning Indus brands.
Robert Weakley, Indus Co-Founder and Chief Executive Officer Key Highlights In Nevada, Indus will acquire a recently renovated 24,000-square foot cultivation and production facility with expansion capacity to bring its total footprint to nearly 76,000 square feet. The Nevada facility is less than two miles from the Las Vegas Strip, a location that links Indus to 40 local dispensaries and a robust tourism sector that attracts 42 million visitors annually. Nevada’s cannabis industry has experienced unprecedented growth since recreational use became legal in January 2017, with an estimated $1 billion in sales projected by 2024, according to the Nevada Dispensary Association. To the north, Indus is expanding into Oregon with an operation that includes a recently opened, 6,000 square-foot manufacturing facility near downtown Portland that includes a warehouse, office and lab space, as well as extraction capabilities. With the turn-key capabilities of the W Vapes operations, the transaction allows the expansion of Indus’ award-winning portfolio of California brands into Nevada and Oregon. W Vapes currently