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Sunday, September 25, 2022

(CSE:PLCN) Is it the right time to invest in Cannibble Foodtech Ltd.?

Cannibble Foodtech Ltd. (PLCN), founded in 2018, is an innovative food tech startup. The company, based in Israel, manufactures food mix products and sells them under The Pelicann brand. What makes Cannibble unique is that it enhances those products with hemp seeds and hemp protein.

Hemp belongs to the same plant species as cannabis but contains little quantities of tetrahydrocannabinol, less than 0.3 percent. Moreover, the company sells its products only where regulations allow it to do so.

Cannibble Foodtech came into the limelight after its shares started trading on the Canadian Securities Exchange (CSE) in March. The listing came one year after the company raised approx. $2.5 million through Canada’s crowdfunding platform FronFundr.

Recent Developments

Cannibble’s products have been gaining popularity due to their unique taste and texture. The company recently launched a new range of Pelicann products on Amazon USA. The new product line includes flavored protein shakes, a brownie mix and a protein cupcake in chocolate flavor. According to the company, all the products are healthy, sugar-free, and enhanced with superior quality organic hemp protein.

Last month, Cannibble inked a similar agreement with Sam’s Club, enabling it to sell its “Pelicann Protein Brownie Mix” at Sam’s Club Puerto Rico stores on a trial basis. The company called the development a major landmark.

Separately, Cannibble announced in March that it received another big order from an existing client in Nevada. That client ordered about 2,000 kgs of unique powder mix products prepared by Cannibble in various flavors filled with hemp ingredients.

Bottomline

Cannibble Foodtech’s recent deals with Amazon and Sam’s Club will help it boost its reach and sales in the coming quarters. Given its recent performance, it can potentially become the next big name in the food industry.

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