Chill Brands Group PLC Vape Sale into Major Retailer (4386X)
20 Diciembre 2023 - 1:00AM
UK Regulatory
TIDMCHLL
RNS Number : 4386X
Chill Brands Group PLC
20 December 2023
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT)
REGULATIONS 2019/310.
20 December 2023
Chill Brands Group plc
("Chill Brands" or the "Company")
Vape Sale into Major Retailer
Chill Brands Group, the consumer packaged-goods distribution
company, is pleased to announce the sale of its Chill ZERO
nicotine-free vapour products into a top five UK supermarket.
The Company has received a substantial initial purchase order
which will see the listing of its Chill ZERO products in 1,500 of
the leading supermarket chain's UK stores (the "Order").
Chill ZERO products will enter these stores during Q1 2024.
Following this roll-out, Chill ZERO vape products will have been
sold into more than 2,100 locations in the UK including independent
and chain stores, receiving combined gross sales and purchase
orders in excess of GBP1.85 million (including VAT) in the short
time since their launch on 7 August 2023.
A further announcement will be made closer to the launch of
Chill ZERO products into these stores.
Callum Sommerton, Chief Executive Officer of Chill Brands, said:
"I am thrilled and immensely proud to announce that we have reached
agreement to sell our Chill ZERO vape products into a major UK
supermarket. This milestone not only signifies a major leap forward
for Chill Brands in terms of revenues, but also serves as a
resounding validation of our product's appeal and the strength of
our brand.
These retail locations offer a high-visibility platform for our
products, enhancing their sales potential while improving
recognition of the Chill brand. We look forward to launching into
their supermarket and convenience stores in early 2024 as we
further solidify our position in the market."
To support the continued growth of its sales channels while
facilitating the working capital needs of the Order, the Company
has secured a supply chain debt financing facility from a major
shareholder, Mr Jonathan Swann. This facility has a total credit
limit of GBP1,000,000, carries a monthly interest rate of 2% on
funds drawn, is unsecured and has a term of one year (the
"Facility"). Mr Swann is considered a related party as a result of
his 6.55% shareholding in the Company. The board of directors of
Chill Brands consider the terms of the Facility to be fair and
reasonable and in the best interests of all shareholders. The funds
will support the acquisition of inventory and the roll-out of
products to new stores, reducing the cashflow impact of the
Company's rapid expansion.
-ENDS-
About Chill Brands Group
Chill Brands Group plc (LSE: CHLL, OTCQB: CHBRF) is concerned
with the development, marketing and distribution of wellness and
recreational products containing natural, functional ingredients.
The Company's proprietary product range is distributed by some of
the most recognisable convenience retail outlets in the US and
includes nicotine-free disposable vapour products that cater to the
rapidly growing market for tobacco alternatives. Chill Brands also
operates the chill.com e-commerce website, on which it is building
a marketplace of products from third-party brands.
Publication on website
A copy of this announcement is also available on the Group's
website at http://www.chillbrandsgroup.com
Media enquiries:
Chill Brands Group plc contact@chillbrandsgroup.com
Allenby Capital Limited (Financial
Adviser and Broker) +44 (0) 20 3328 5656
Nick Harriss/Nick Naylor/Lauren Wright
(Corporate Finance)
Kelly Gardiner (Equity Sales)
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END
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December 20, 2023 02:00 ET (07:00 GMT)
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