PM - Kaival Brands rallies as it sets to distribute Philip Morris' new e-vapour product in Canada

• Kaival Brands Innovations Group ( NASDAQ: KAVL ) is up 15% , Monday, after reporting the launch of Philip Morris International's ( PM ) e-vapor product- VEEBA- in Canada.
• The move comes under the licensing agreement between Kaival Brands and Philip Morris Products for development and distribution of electronic nicotine delivery system (ENDS) products outside the U.S.
• The deal provided PMI the license to use Florida-based Bidi Vapor's intellectual property, patents and development methods in the launch of VEEBA.
• Kaival Brands and Philip Morris International Inc. are the exclusive global distributors of products manufactured by  Bidi Vapor.
• "The Agreement with Philip Morris Products was a remarkable accomplishment for the company and now we have advanced to the next phase of international distribution with the actual launch of their custom branded product, VEEBA. We are excited to support PMI's efforts to provide a range of alternatives compared to cigarettes," said Eric Mosser, President and Chief Operating Officer of Kaival Brands.
• Earlier: Kaival Brands announces leadership transitions

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