Aura Health Announces $5.82 Million Closing of the Second Tranche of Its Subscription Receipt Offering and Share Exchange Transaction
Aura Health Inc. (the “Company” or “Aura”) (CSE:BUZZ) is pleased to announce that it has closed the second tranche of its previously announced “best efforts” private placement subscription receipt offering (the “Offering”) for additional gross proceeds of $2,820,070 (the “Second Tranche Offering”), as well as a share exchange transaction with FSD Pharma Inc. (“FSD”), a licensed producer under the Cannabis Act whereby, among other things, FSD issued $3 million of FSD shares (the “FSD Shares”) to the Company in exchange for $3 million of Aura shares (the “Aura Shares”). Since the FSD Shares were issued to the Company on a private placement basis, the Company is in the process of finalizing an up to $3 million bridge facility (the “Bridge Facility”) to cover the value of the FSD Shares until they are freely tradeable.
The gross proceeds of $1,919,929 raised pursuant to the closing of the first tranche of the Offering, the gross proceeds of $2,820,070 raised pursuant to the Second Tranche Offering, the $3 million of FSD Shares issued to Aura in connection with the Share Exchange and, the Bridge Facility, will generate $7,740,000 for the Company and will provide the Company with the funds required to close the proposed acquisition (the “Acquisition”) of an 80% equity interest in Pharmadrug Production GmbH (“Pharmadrug”), previously announced in a press release dated January 25, 2019.
Pharmadrug is a cash flow positive German pharmaceutical distribution company with over 20 years of operating history and a Schedule I European Union narcotics license that allows it to distribute medical cannabis to pharmacies in Germany and throughout the Eurozone as markets become legalized. Pharmadrug currently has supply agreements with Bedrocan International B.V. and with a Canadian Licensed Producer, and has received its first cannabis shipment and has commenced deliveries to pharmacies in Germany.
The Offering was led by Mackie Research Capital Corporation as the lead agent (the “Lead Agent”) and sole book runner, with a syndicate consisting of Haywood Securities Inc., PI Financial Corp., and Foundation Markets Inc. (together with the Lead Agent, the “Agents”).
Under the Offering, Aura issued a cumulative amount of 21,545,454 subscription receipts (each a “Subscription Receipt” and together, the “Subscription Receipts”) at a price of $0.22 per Subscription Receipt (the “Issue Price”) for aggregate gross proceeds of $4,740,000 (the “Offering”). Each Subscription Receipt issued under the Offering entitles the holder thereof to receive, without any further action on the part of the holder or payment of any additional consideration, one unit of Aura (each a “Unit” and together, the “Units”) consisting of one common share in the capital of the Company (each, an “Aura Share” and together, the “Aura Shares”) and one-half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”), with each Warrant exercisable at a price of $0.28, into one Aura Share for a period of 24 months following the date of the release of the proceeds of the Offering from escrow.
The proceeds of the Offering have been placed in escrow with Capital Transfer Agency, ULC (the “Escrow Agent”) on behalf of the purchasers of the Subscription Receipts and will be released to Aura upon satisfaction of certain escrow release conditions (the “Offering Escrow Release Conditions”), which include, among other things, that (i) all conditions precedent, undertakings and other matters to be satisfied, completed and otherwise met at or prior to the completion of the Acquisition have been met or waived in accordance with the agreement governing the Acquisition and (ii) the disposition of all of the Company’s interests in cannabis operations located in the United States on or before 5:00 p.m. (Toronto time) on or prior to May 10, 2019 or such later date as the Lead Agent may consent to in writing (the “Termination Time”). Should the Offering Escrow Release Conditions not be satisfied prior to the Termination Time, the Subscription Receipts will be cancelled and all proceeds from the Offering will be returned to the subscribers.
In connection with the Offering, the Agents were paid a cash commission equal to 7% of the gross proceeds of the Offering (the “Cash Fee”). Upon closing, the Agents also received compensation options (each, a “Compensation Option”) in a number equal to 7% of the number of Subscription Receipts sold under the Offering, with each Compensation Option being exercisable to purchase Subscription Receipts, or Common Shares and Warrants (if the Subscription Receipts have converted into Units as of the time of exercise of the Compensation Options), at the Issue Price for a period of 24 months from the date of closing of the Offering.
The Share Exchange with FSD Pharma Inc.
In connection with the Offering, Aura entered into a share exchange agreement (the “Share Exchange Agreement”) with FSD, a leading licensed producer under the Cannabis Act, whereby FSD acquired 13,562,386 Aura Shares valued at $3 million issued from treasury in exchange for 13,181,019 FSD Shares issued from treasury (the “Share Exchange”) valued at $3 million. The value of the Aura Shares and FSD Shares were determined by dividing $3 million by the 10 day VWAP of the Aura Shares and FSD Shares immediately prior to closing of the Share Exchange, disregarding any fractional shares. As party of the Share Exchange, FSD agreed to provide a “make-whole” payment to Aura immediately following the end of the applicable statutory hold period (the “Hold Period Expiry Date”) for the FSD Shares, payable in the form of additional FSD Shares issued from treasury, having a value equal to the excess, if any, of the per share price at which the FSD Shares were initially issued to Aura (the “Issue Price”) over the VWAP of the FSD Shares for the 10 consecutive trading days immediately prior to the Hold Period Expiry Date multiplied by the number of FSD Shares initially issued to Aura and divided by the price of the FSD Shares at the Hold Period Expiry Date. Alternatively, in the event that the aggregate realized price of the FSD Shares issued to Aura exceeds the aggregate Issue Price of such shares, after the principal of and accrued interest under the Bridge Facility has been repaid to the lender in full, Aura shall pay 50% of the excess to FSD immediately thereafter. As a result of the Share Exchange, FSD will become a new insider of Aura.
In connection with the Share Exchange, the FSD Shares and Aura Shares will be placed in escrow with an escrow agent (the “Escrow Agent”) and released to Aura and FSD respectively, upon the Escrow Agent receiving from the Company prior to 5:00 p.m. (Toronto time) on or prior to May 10, 2019 (or such later date as the Lead Agent may consent to in writing in accordance with the terms of the Offering) a certificate executed by FSD and the Company to the effect that: (i) the Offering Escrow Release Conditions have been satisfied; (ii) the Acquisition has closed; (iii) each of FSD and Aura are satisfied with their due diligence review of the other party; (iv) the Supply Agreement (as hereinafter defined) has been executed by FSD and Pharmadrug; and (v) the Consulting Agreement (as hereinafter defined) has been executed by FSD and Aura (collectively, the “Share Exchange Release Conditions”).
As part of the Share Exchange Release Conditions, Aura and FSD will enter into a consulting agreement (the “Consulting Agreement”) whereby Aura will assist FSD with obtaining euGMP certification at the existing licensed facility of FSD. While Aura has a pre-existing supply agreement with another producer that it is required to honour in priority, it is anticipated that FSD will become a preferred Canadian cannabis supplier to Pharmadrug for the German market. Pharmadrug will enter into a supply agreement with FSD (the “Supply Agreement”) whereby, upon proper euGMP certification Pharmadrug will commit to purchase 1,000 kilograms (or such greater or lesser amount as may be agreed from time to time by the parties) of Canadian produced cannabis product from FSD at a price of $7.00 per gram FOB Germany (subject to downward adjustment should market exigencies dictate), provided that the product is saleable in the German market (the “Purchase Commitment”). The Supply Agreement is not a “take or pay” arrangement. For greater certainty, the Supply Agreement will in no way limit or restrict the ability of Pharmadrug to freely source product from other suppliers in any other country, provided that the Purchase Commitment is satisfied.
In connection with the Share Exchange, Aura has agreed to pay the Lead Agent a corporate finance and structuring fee equal to 813,743 Aura Shares issued from treasury and to issue to the Lead Agent 813,743 Compensation Options.
All securities issued pursuant to the Offering and Share Exchange will be subject to a four month and one day hold period, from the closing date of the Offering, in accordance with applicable Canadian securities laws.
About FSD Pharma Inc.
FSD Pharma is focused on the development of the highest quality indoor grown, pharmaceutical grade cannabis and on the research and development of novel cannabinoid-based treatments for several central nervous system disorders, including chronic pain, fibromyalgia and irritable bowel syndrome. The Company has 25,000 square feet available for production at its Ontario facility with an additional 220,000 square feet currently in development (with an estimated cost of $250 per square foot to be completed in 2019). FSD facilities sit on 70 acres of land with 40 acres primed for development and an expansion capability of up to 3,896,000 square feet.
FSD’s wholly-owned subsidiary, FV Pharma, is a licensed producer under the Cannabis Act and Regulations, having received its cultivation license on October 13, 2017. FV Pharma’s vision is to transform its current headquarters in a Kraft plant in Cobourg, Ontario into the largest hydroponic indoor grow facility in the world. FV Pharma intends to cover all aspects of this exciting new industry, including cultivation, legal, processing, manufacturing, extracts and research and development.
About Aura Health Inc.
Aura Health is building an international network of vertically integrated cannabis assets. Through an established product line of cannabis-infused edible products and oil extracts, Aura is dedicated to building a high margin downstream business in the medical marijuana sector. The Company holds convertible debt that converts to 54% equity of HolyCanna, a cultivation and nursery license holder in Israel and is focused on acquiring strategic assets across the cannabis value chain, initially in Israel and Germany.
For further information, please contact:
Daniel Cohen, CEO
Aura Health Inc.
David Posner, Chairman
Aura Health Inc.
Caution Regarding Forward-Looking Information:
THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED NOR DOES IT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such statements include the entering into and the closing of the Bridge Facility, the satisfaction by the Company of the Offering Escrow Release Conditions (including the disposition of US assets), the satisfaction of the Share Exchange Release Conditions, the closing of the Acquisition, the completion of the Supply Agreement, obtaining proper euGMP certification, the fulfillment of the Purchase Commitment on favourable terms, the completion of the Consulting Agreement on favourable terms and the fulfillment by the Company of its obligations under the agreements referred to herein or in related press releases involving the Acquisition or the Offering, among others. There is no certainty that any of these events will occur. Although such statements are based on management’s reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances. Moreover, while the Company has the intention to dispose of its US assets which are not considered material, there is no guarantee that such disposition will occur.
The Company’s securities have not been registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or “U.S. Persons”, as such term is defined in Regulation S under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful.
Additionally, there are known and unknown risk factors which could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein, such as but not limited to dependence on obtaining regulatory approvals, owning interests in companies or projects that are engaged in activities currently considered illegal under United States federal law; changes in laws; limited operating history, reliance on management, requirements for additional financing, competition, hindering market growth; regulatory and political change.
All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
A report just released in early April confirms that the cannabis beverage sector is thriving. According to this report from industry stalwart, Marijuana Business Daily while sales for vapes, pre-rolls and flower were lackluster, cannabis beverages shined:
“The beverage category continued to shine in the first quarter, leading all categories with sales growing 68.4% over the same period last year and 14.2% versus the fourth quarter of 2020. Most beverage categories experienced double-digit growth going into 2021.”
That’s a staggering increase. And from the looks of the numbers, it’s a trend, not a fad. Cannabis beverages are becoming an option for consumers as more and more hit shelves and brands get smarter about dosing, flavors, and what customers want. With the summer months fast approaching, sales have been picking up in key markets.
It’s a good time to be a health and wellness company, and the cannabis beverage space as the category leads the industry in growth. There are only a few companies leading the industry, including HEXO Cannabis Canopy Growth Corp, Keef Beverages (Private). BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC) has been making significant progress recently, and is now run by former Pepsi Co. executive, Melise Panetta, a veteran CPG and Cannabis executive with years of expertise selling and marketing some of the world’s most recognized beverage brands. It also added two veteran CPG (Consumer Packaged Goods) senior sales leaders to the organization.
BevCanna not only owns their own water source, a pristine alkaline spring water aquifer in British Columbia, but a world–class 40,000–square–foot, HACCP certified manufacturing facility which has a bottling capacity to produce up to 200M bottles annually. BevCanna’s extensive distribution network includes more than 3,000 points of retail distribution through its market-leading TRACE brand in Canada, a growing natural health and wellness e-commerce platform, Pure Therapy , its fully licensed Canadian cannabis manufacturing plant and distribution network, and a partnership with #1 U.S. cannabis beverage company Keef Brands .
Growing product line, world class leadership, and a growing sales team with experience, BevCanna is positioned to capitalize on the growing demand of Cannabis 3.0 beverages, and it’s looking to capture a piece of the market, which appears to be one of the hottest right now in the ever expanding cannabis industry.
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BevCanna Enterprises (CSE:BEV,OTCQQ:BVNNF,FWB:7BC) CEO Marcello Leone shared how the company is scaling up its products to forge partnerships and explore opportunities across Canada, the US and Western Europe.
“Getting your standard processing license and being fully compliant at a federal level is critical in Canada, and we were successful in getting that done. Now we’re getting ready to launch our Keef line of beverages within the next 45 days,” Leone said.
As a young company, Leone said BevCanna has only started, but it took a four-pronged approach to make sure that it is a revenue-generating company prepared for the opening of many jurisdictions for CBD-based products.
“We are blessed that we have a beautiful infrastructure of our own, a state-of-the-art bottling facility with a capacity of almost 200 million bottles per annum and a strong balance sheet of $55 million. We are in a strong position to scale and grow this company.”
BevCanna has received a Standard Processing License from Health Canada and is now fully authorized to begin production at its full-service, high-capacity beverage manufacturing facility. The company will begin production of its white-label products, number one US cannabis beverage brand Keef and its in-house beverages through licensed Canadian retailers, positioning the company to fully capitalize on the burgeoning Canadian cannabis-infused beverage sector.
Watch the full interview with CEO Marcello Leone above.
This interview is sponsored by BevCanna Enterprises (CSE:BEV,OTCQB:BVNNF,FWB:7BC). This interview provides information which was sourced by the Investing News Network (INN) and approved by BevCanna Enterprises in order to help investors learn more about the company. BevCanna Enterprises is a client of INN. The company’s campaign fees pay for INN to create and update this interview.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with BevCanna Enterprises and seek advice from a qualified investment advisor.
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Positive distributor feedback and strong consumer interest accelerating launch with distributors
Emerging leader in innovative health and wellness beverages and products, BevCanna Enterprises Inc. ( CSE:BEV , Q:BVNNF , FSE:7BC ) (“ BevCanna ” or the “ Company ”) announces today that its wholly-owned subsidiary Naturo Group has successfully completed its initial shipment of TRACE plant-based products to one of Japan’s largest beverage distributors.
Following up on its recently announced Japanese distribution agreement with Mirai Marketing Inc., the Company is now in active discussions with established beverage distributors to leverage their robust distribution networks and integrate TRACE’s proprietary plant-based mineral formulation into their distribution pipeline, targeting the growing health-conscious consumer segment in Japan.
“BevCanna’s market research on Japanese purchaser preferences confirms that these consumers are very responsive to natural, health-conscious products, and that TRACE’s proprietary plant-based mineralized beverages and nutraceuticals will be well received,” said Melise Panetta, President of BevCanna. “Our first product shipment to Japan will build our distribution network within this burgeoning market and solidify Japan as a primary market within our international expansion strategy.”
About BevCanna Enterprises Inc.
BevCanna Enterprises Inc. ( CSE:BEV , Q:BVNNF , FSE:7BC ) is a diversified health & wellness beverage and natural products company. BevCanna develops and manufactures a range of plant-based and cannabinoid beverages and supplements for both in-house brands and white-label clients.
With decades of experience creating, manufacturing and distributing iconic brands that resonate with consumers on a global scale, the team demonstrates an expertise unmatched in the nutraceutical and cannabis-infused beverage categories. Based in British Columbia, Canada, BevCanna owns a pristine alkaline spring water aquifer and a world–class 40,000–square–foot, HACCP certified manufacturing facility, with a bottling capacity of up to 210M bottles annually. BevCanna’s extensive distribution network includes more than 3,000 points of retail distribution through its market-leading TRACE brand, its Pure Therapy natural health and wellness e-commerce platform, its fully licensed Canadian cannabis manufacturing and distribution network, and a partnership with #1 U.S. cannabis beverage company Keef Brands .
Disclaimer for Forward-Looking Information
This news release contains forward-looking statements. All statements, other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements in this news release include statements regarding: that the Company is now in active discussions with established beverage distributors to leverage their robust distribution networks and integrate TRACE’s proprietary plant-based mineral formulation into their distribution pipeline, targeting the growing health-conscious consumer segment in Japan; the Company’s first product shipment to Japan will build its distribution network within this burgeoning market and solidify Japan as a primary market within its international expansion strategy; and other statements regarding the business plans of the Company. The forward-looking statements reflect management’s current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking statements.
Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be put on such statements due to their inherent uncertainty. Factors that could cause actual results or events to differ materially from current expectations include, among other things: general market conditions; changes to consumer preferences; volatility of commodity prices; future legislative, tax and regulatory developments; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the inability to implement business strategies; competition; currency and interest rate fluctuations; inability to successfully negotiate and enter into commercial arrangements with other parties; and other factors beyond the control of the Company and its commercial partners. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law, and the Company does not assume any liability for disclosure relating to any other company mentioned herein.
On behalf of the Board of Directors:
John Campbell, Chief Financial Officer and Chief Strategy Officer
Director, BevCanna Enterprises Inc.
For media enquiries or interviews, please contact:
Wynn Theriault, Thirty Dash Communications Inc.
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Cresco Labs Announces the Appointment of Tarik Brooks to Its Board of Directors and the Retirement of Dominic Sergi
Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco Labs” or the “Company”), a vertically integrated multistate operator and the number one U.S. wholesaler of branded cannabis products, today announced an additional refreshment of its board of directors to further strengthen its leadership in the cannabis industry.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210422005351/en/
Cresco Labs appoints Tarik Brooks, President of Combs Enterprises, to its Board of Directors (Photo: Business Wire)
Appointment of Tarik Brooks
Cresco Labs has appointed Tarik Brooks to its board of directors, effective immediately. Mr. Brooks is a seasoned executive with more than 22 years of experience driving large scale business transformations across several industries including spirits, hospitality and media.
Currently, as President of Combs Enterprises, Mr. Brooks oversees all business operations and investments owned by Sean “Diddy” Combs. This diverse portfolio includes ventures in spirits (Ciroc Vodka and DeLeon Tequila), media (Revolt TV), music (Bad Boy Records), consumer packaged goods (AquaHydrate), and education (Capital Preparatory Schools). Mr. Brooks also leads all new business development activity, including the launch of “Our Fair Share”, a platform to help minority owned businesses access capital through the Paycheck Protection Program (PPP).
Prior to his current role, Mr. Brooks was the Chief Operating Officer of Account Management and Trading at Bridgewater Associates, the world’s largest hedge fund. Earlier in his career, Mr. Brooks served as Executive Vice President at RLJ Companies, a portfolio of companies owned by investor Robert L. Johnson, where Mr. Brooks led the development of gaming/nightlife ventures in the Caribbean and the completion of RLJ Kendeja, a resort hotel in Liberia.
Throughout his career, Brooks has negotiated transactions, including acquisitions and capital raises, led major strategic initiatives, and oversaw compliance in highly regulated industries. Mr. Brooks is a graduate of Howard University and Harvard Business School.
“I’m thrilled to welcome Tarik Brooks to our board of directors. He has remarkable experience building and managing consumer brands and will be an invaluable member of our organization as cannabis continues to evolve as a consumer packaged good,” said Tom Manning, Cresco Labs Executive Chairman. “We’ve taken a measured approach to building our board, periodically making refreshments that add new skills and experience to the group. Tarik represents another key appointment for Cresco Labs at a critical time of growth and expansion for the company.”
Retirement of Dominic Sergi
The Company announced today that Dominic Sergi, an original founder of Cresco Labs, has retired from the Company’s board of directors as part of the planned board refreshment process. Mr. Sergi currently serves as CEO of Clear Height Properties and spends his free time supporting the Nicholas D. Sergi Foundation. Mr. Sergi has been a foundational part of Cresco Labs since the company’s inception and his experience in real estate development has played an instrumental part in the construction of Cresco Labs’ asset base.
“I want to sincerely thank Dominic for his many years of service and for helping to guide this organization toward the top of the cannabis industry. Dominic is one of the most considerate and giving people I know and it has been a pleasure building this Company together,” said Charlie Bachtell, CEO of Cresco Labs.
About Cresco Labs Inc.
Cresco Labs is one of the largest vertically integrated multistate cannabis operators in the United States, with a mission to normalize and professionalize the cannabis industry. Employing a consumer-packaged goods (“CPG”) approach, Cresco Labs is the largest wholesaler of branded cannabis products in the U.S. Its brands are designed to meet the needs of all consumer segments and comprised of some of the most recognized and trusted national brands including Cresco, High Supply, Mindy’s Edibles, Good News, Remedi, Wonder Wellness Co. and FloraCal Farms. Sunnyside, Cresco Labs’ national dispensary brand, is a wellness-focused retailer created to build trust, education and convenience for both existing and new cannabis consumers. Recognizing that the cannabis industry is poised to become one of the leading job creators in the country, Cresco Labs operates the industry’s largest Social Equity and Educational Development initiative, SEED, which was established to ensure that all members of society have the skills, knowledge and opportunity to work and own businesses in the cannabis industry. Learn more about Cresco Labs at www.crescolabs.com .
Forward Looking Statements
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as, ‘may,’ ‘will,’ ‘should,’ ‘could,’ ‘would,’ ‘expects,’ ‘plans,’ ‘anticipates,’ ‘believes,’ ‘estimates,’ ‘projects,’ ‘predicts,’ ‘potential’ or ‘continue’ or the negative of those forms or other comparable terms and includes, but is not limited to, statements relating to the expected timing by which Bluma Wellness will be de-listed from the CSE and the intention to apply to have Bluma Wellness cease to be a reporting issuer and terminate its public reporting obligations. The Company’s forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to those risks discussed under “Risk Factors” in the Company’s Annual Information Form for the year ended December 31, 2020 dated March 26, 2021, and other documents filed by the Company with Canadian securities regulatory authorities; and other factors, many of which are beyond the control of the Company. Readers are cautioned that the foregoing list of factors is not exhaustive. Because of these uncertainties, you should not place undue reliance on the Company’s forward-looking statements. No assurances are given as to the future trading price or trading volumes of Cresco Labs’ shares, nor as to the Company’s financial performance in future financial periods. The Company does not intend to update any of these factors or to publicly announce the result of any revisions to any of the Company’s forward-looking statements contained herein, whether as a result of new information, any future event or otherwise. Except as otherwise indicated, this press release speaks as of the date hereof. The distribution of this press release does not imply that there has been no change in the affairs of the Company after the date hereof or create any duty or commitment to update or supplement any information provided in this press release or otherwise.
Jason Erkes, Cresco Labs
Chief Communications Officer
Jake Graves, Cresco Labs
Manager, Investor Relations
For general Cresco Labs inquiries:
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