Shares of Chill Brands Group PLC (LSE: CHLL, OTCQB: CHBRF) shot up by over 17% on Monday after the firm announced agreements with specialized carriers to distribute nicotine-free vapour products throughout all 50 US states.
The London-based company, Chill Brands, plans to begin selling nicotine-free vapour products directly to American consumers from June onwards, as revealed in a company press release.
“This marks a significant step for Chill Brands in our quest to increase our footprint in the flourishing US vapour market,” stated CEO Callum Sommerton.
The company highlighted that a 2019 act barred the US postal service from delivering vapour products, stopping “several rival brands from conducting direct-to-consumer online sales”.
However, the agreements Chill Brands has secured will allow customers to choose home delivery of its vapour products, despite similar restrictions placed by some major carriers on the shipment of such goods.
“We are thrilled to be initiating online vapour sales and eagerly anticipate introducing our brand to more adult consumers throughout the United States,” continued Sommerton.
In addition, Sommerton assured that the firm’s delivery partners will “implement age-verification protocols” to keep minors from purchasing the vapour products.
Stock value experienced a jump of 17.5%, reaching 13.2p.
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