Kaival Brands soars on distribution deal with Philip Morris unit

Kaival Brands Innovations

13/06/2022 22:19

** Shares of vaping products distributor Kaival Brands
Innovations Group Inc  KAVL  jump as much as 54.91% to $2.68 in
extended trading 
    ** Co says it signed an agreement with a unit of Philip
Morris International Inc  PM.N  for the development and
distribution of electronic nicotine delivery system
(ENDS)products in markets outside of the U.S.
    ** KAVl is a global distributor of products manufactured by
vaping products maker Bidi Vapor
    ** The agreement grants PM a license of some intellectual
property rights relating to Bidi Vapor's ENDS device, BIDI
    ** Stock had more than doubled YTD, as of last close 
  

 (Reporting by Rithika Krishna in Bengaluru)
 ((Rithika.Krishna@thomsonreuters.com; Twitter: https://twitter.com/rithika_krishna;))