The Vancouver, British Columbia-based company confirmed Tuesday that it will cover 28 countries and 10 territories with Xebra’s THC and CBD infused beverage brands, including MADCAP soft drinks, and the slogan Crazy Good, HOLAHI iced teas, It’s High Time, HIGHJACK energy drinks, VICIOUS CITRUS lemonades, and the slogan Lemonade for Renegades, HIGHCASTLE waters, and more.
The news comes on the heels of the company’s announcement of having fully satisfied all terms necessary for its acquisition of Desart MX, SA de CV, via the issuance of 48 million company shares, which were issued to five Mexican vendors and are being placed in escrow with staged releases over 38 months.
Desart has been granted an injunction by the Mexican Supreme Court giving it a first-mover advantage in the Mexican CBD and CBG market. Official licenses will be granted by the Mexican Health Regulatory Agency (COFEPRIS) in due course. The Supreme Court decision is irrevocable and cannot be appealed.
Xebra highlighted that it’s working towards using the first-mover advantage and is in discussions to secure up to 300 hectares of suitable land for cultivation. Furthermore, several Canadian and American companies with cannabis processing and extraction expertise have expressed an interest in partnering in Mexico.
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Xebra shares traded 1.29% lower at 19 cents per share at the time of writing Tuesday.