Canna Hemp products are now selling in 15 retail locations in California and Infused has recently hired two additional sales representatives
Recreational cannabis focused group () saw its shares advance over 7% on Tuesday as it said it had decided to indefinitely postpone the spin out of its Infused MFG business.
Infused is a Nevada-based firm that provides legal hemp-derived and cannabidiol (or CBD) products, and Friday Night bought a 91% stake last year.
Friday Night unveiled the spin-out plan last month.
"Infused's Canna Hemp brand has seen strong demand in the California market since the state-level legalisation on January 1, 2018," said Friday Night.
The California cannabis market is currently estimated to be worth US$8.5bn, it added.
Canna Hemp products are now selling in 15 retail locations in California and Infused has recently hired two additional sales representatives to expand on its distribution network.
In today's statement, TGIF said: "After careful review of the evolving Las Vegas market and the success in the California market, the company has decided to indefinitely postpone the spin out of Infused MFG.
"Management believes Infused and the Canna Hemp brand will continue to show strong growth and success in new markets and will provide value to the shareholders of Friday Night."
TGIF shares in Toronto added 7.69% to C$0.56.