LOS ANGELES, — Driven Deliveries Inc. (the “Company” or “Driven”) (OTCQB: DRVD), California’s fastest growing online cannabis retailer and direct-to-consumer logistics company, announced today that the Company has reached an agreement in principle to acquire Mozen Inc, a California based cannabis lifestyle brand. The Company and Mozen will begin due diligence for the all stock transaction and the execution of a definitive merger agreement is expected to close during the third quarter of 2020.
The Company’s online retail divisions, Ganjarunner and Budee, have been carrying Mozen products for over a year with a high degree of success and consumer demand. The target audience is professionals between the ages of 30 and 55 who are looking at the benefits of cannabis, but have not been active users. The branding provides an easy understanding of the product effects and strengths which provides clarity in a rather confusing market full of buzzwords and ingredients.
Mozen currently offers 4 different disposable vaporizer SKU’s; Power Up, Seize the Day, Rest and Chill and Good Night. “The simplicity of the product positioning and packaging is unique and very well received by consumers,” said, Christian Schenk, CEO Driven Deliveries Inc. “Disposable vape pens is the 4th highest volume category on our menus. By owning the brand and the supply chain we will be better positioned to capture a higher margin for a leading product base among our customer base. The volume growth trend for vape products is continuing with increased demand.”
Driven plans to expand the portfolio of products as well as the distribution not only across the State of California, but out of State as well, where legally permissible.
“We evaluated several suitors during the first quarter of 2020 and Driven provided the most value for our loyal customers,” said Mark Davis, President, Mozen Inc. “We have always believed that a best-in-class delivery platform is the preferred method for adult professionals, parents and active retirees to purchase cannabis. We are really excited to work with the Driven team to expand the Mozen brand with more innovative products and new categories and execute our shared vision for creating a high growth Cannabis business. Our customers have had nothing but great experiences with Driven’s retail brands, ganjarunner and Budee and we have greatly benefited from their continued success. We look forward to working towards entering into a merger agreement with Driven,” added Davis.
Cannabis legalization across the globe has created a massive market for entrepreneurs and growers. Many players are turning to ecommerce solution for door-to-door deliveries. We at Panacea Infotech, a leading web development service provider in US, offer end-to-end ecommerce solutions and service to make your online cannabis business a huge success.
Source: PR Newswire