Flower One Provides Corporate Update Including Planting Update of the Largest Cultivation Facility in Nevada
The Company has made significant operational progress on many fronts including:
A. Conversion of 400,000 Square Feet of Greenhouse Cultivation Capacity
In May of last year, the Company began a 12-month process of converting the largest commercial greenhouse in Nevadafor large-scale hydroponic cannabis cultivation. The conversion is now approximately 95% complete, and is expected to be fully completed on schedule.
The Company has now hit an important milestone as it has initiated the onboarding of plants into its greenhouse. To date, the Company has achieved the following cultivation milestones:
- Two climate-controlled, spectrum adjustable cutting cells are in full operational mode and have rooted more than 100,000 cannabis cuttings (small plants).
- In the greenhouse, the Company has constructed three expansive, multi-density ebb and flood zones, which are now fully populated with plants.
- The greenhouse has been designed to have eight large “flower” zones. Once fully canopied, the greenhouse is expected to operate on a perpetual cycle of harvesting one zone per week (representing, on average, 10,000 plants per harvest). To date, we are 50% canopied, with four of the eight zones planted, amounting to 200,000 square feet of plants.
We anticipate that the Company’s inaugural Zone One harvest will commence in June, 2019. Once fully canopied, the Company should be capable of producing over 140,000 lbs (or 62,500 kg) of dry flower annually, and will house in the eight flower zones over 80,000 plants per crop cycle.
B. Construction of 55,000 Square Foot Post-Harvest, Extraction and Packaging Facility
The construction of the Company’s production facility is progressing.
The Company has now completed the buildout of the initial 15,000 square feet of this facility, including a fully automated wetting line, pruning line and two high-tech cutting cell rooms.
The exterior construction of the additional 40,000 square foot, two-story structure was completed in March 2019. The Company has now commenced the internal work to support the installation of the post-harvest, extraction and packaging line technology.
The Company plans to accelerate operations in the coming months to support the inaugural Zone One harvest in the Company’s flagship greenhouse cultivation facility.
C. Building a Strategic Portfolio of Brand Partners: Eight Brands and Counting
The Company’s business model is focused on leveraging the scale of its cultivation and production capabilities to become the leading brand-fulfillment partner in Nevada. For established cannabis brands looking to build national prominence and gain Nevada market share, having a retail shelf presence in the unique and growing Las Vegas and state-wide market is paramount.
To this end, the Company is committed to delivering turnkey solutions and superior quality to support all of our Brand Partners. The Company can provide seed-to-retail-ready product that is custom packaged and delivered to retail with a commitment to consistent, reliable, high-volume delivery to meet our Brand Partners’ requirements.
The Company is in the process of assembling a very strong roster of Brand Partners, having announced eight such Brand Partners already in 2019.
Flower One’s Growing Brand Partners
Rapid Dose Therapeutics: RDT has developed a proprietary, fast-dissolve cannabis delivery technology. This smoke-free technology represents a unique delivery platform that is both discrete and easy to use which makes it very compelling for the tourism-driven Nevada cannabis and CBD market.
Flyte Concentrates: As a distillate brand, Flyte Concentrates is best known for its two product lines: FlytePen and JetPack. FlytePen is a slim distillate vaporizer system with a cartridge containing 0.8ml of premium cannabis oil. Using a proprietary process and formulation, the FlytePen can rapidly vaporize the thickest and most purified cannabis oils.
In addition, Flyte JetPacks are convenient single-dose 10ml liquid THC or CBD shots, about 2mm thick and about the size of a credit card. The contents of the package can be added to any hot or cold beverage for a discreet experience.
Old Pal: Known for being one of the fastest growing cannabis brands in California, the Old Pal suite of products is primarily pure, dried, packaged, shareable flower. The products are available in three varieties: Indica, Sativa, and Hybrid. Already the lowest cost provider of legal cannabis in California, the partnership with Flower One will reinforce the value-oriented positioning of the Old Pal brand. Old Pal’s half ounce, pre-ground rolling kit is an all-in-one convenient cannabis solution for consumers on-the-go and includes branded rolling papers that uniquely pay homage to cannabis culture circa 1960s and 1970s.
Palms: Another California based cannabis brand, Palms is about providing a thoughtful experience with the casual and recreational consumer in mind. Their products lines such as ‘Social’ and ‘Chill’, ensures that consumers are able to find a product that speaks to their experience level and knowledge base. Palms’ ‘Social’ sativa pre-roll features a sour tangie strain with a distinct citrus scent and flavor. The ‘Chill’ indica hybrid pre-roll induces a relaxing experience, featuring a taffie strain with subtle citrus flavors blended with hints of caramel.
HUXTON: Arizona-based HUXTON, is known for their knowledge in cannabis science and terpene chemistry. They focus on using premium strains and uniquely formulate each of HUXTON’s blended product categories, HIFI, RISE and ZEN, which Flower One will be launching in Nevada. Each VIBE product series is labeled by “how it will make you feel,” allowing consumers to easily pick their desired experience. Great market positioning for consumers visiting Las Vegaswho are often looking to experiment and sample new brands. Flower One will be making HUXTON’s experience-based products available in Nevada in pre rolls, flower tins, and vape pens.
CannAmerica Brands: From one of the United States’ true cannabis pioneers has emerged Colorado-based CannAmerica Brands and its signature Fruit Juice Gummies and Super Soft Gummies products. With their partnership with Flower One will come new and improved formulas which will be categorized according to three flavour profiles: sweet (strawberry banana, peach, orange sherbet), sour (blue raspberry, cherry, bomb pop) and a sweet and sour combination. In addition, new, sleek packaging will also be part of the brand partnership with Flower One in order to drive brand consistency in Nevada and across all of CannAmerica Brands’ markets.
Grenco Science: California-based Grenco Science are pioneers in the cannabis hardware space, responsible for engineering the advanced technology behind the internationally-available and ever popular G Pen line of cannabis vaporizers. The ability to innovate is key in the cannabis hardware space and Flower One sees the launch G Pen’s new Gio vaporizer as revolutionizing the cannabis experience to align with a modern lifestyle. The Gio is a draw-activated concentrate vaporizer that is intuitive, portable, and accessible, and features a cutting-edge cartridge system with an optimized heating temperature and integrated airpath for maximum vaporization, and consistent, smooth, and flavorful pulls.
The Medicine Cabinet: An ultra-premium house of brands, The Medicine Cabinet aims to offer the most discerning consumers a variety of high end, boutique-style recreational products and brands, including: Don Pablo’s signature line of hand rolled Premium Classics and Premium Exotics, Bomb Girl’s sleek selection of pre-rolled Baby J’s, and Slims, and for the connoisseur, Coffeeshop Classics, a premium packaged flower brand.
Management believes that having a mix of brands and product offerings that cover a diverse consumer spectrum is very important to the Company, as it will allow Flower One to respond to consumer expectations and desired experiences across the full pricing and product category matrix.
Management expects that the Company’s portfolio of Brand Partners will continue to grow and give the Company an expanding and diversified mix of product, stock keeping units (SKUs) and delivery platforms, including packaged flower, pre-rolls, oils, distillates, concentrates, gel caps, vaporizers, edibles and topical to deliver greater choice and brand diversity – something that both consumers and Nevada cannabis retailers expect as the market continues to grow and mature.
D. Transforming the Company’s 25,000 Square Foot Indoor Cultivation & Production Facility
The Company continues to maximize the full suite of human talent, resources and assets at its 25,000 square foot indoor cultivation and production facility (originally acquired from NLV Organics Inc.). The Company’s cultivation team has executed on the project of growing and transferring the initial plant material from the Company’s indoor facility to the greenhouse.
With the completion of the transfer of plant material to the greenhouse, the Company’s intended use of the indoor facility will now focus on:
- Testing and trialing new cannabis strains prior to scaling their cultivation at our greenhouse.
- Preservation and vaulting of our ever-expanding genetic bank, which currently comprises a library of over 100 unique cannabis strains.
- Craft cultivation of select strains to support our Brand Partners and any strategic, limited run SKUs.
- Select processing and production of Brand Partner SKUs.
The Company’s goal is to create a high-performing research centre, aimed not only at accelerating the diversification of cannabis strains for Nevada’s growing recreational market, but to better support the successful expansion and product lines of our Brand Partners.
E. Retail Channel Filling: The Benefits of Scale
With the Company’s cultivation, production and Brand Partner efforts advancing on schedule, the Company is increasingly turning its attention to working closely with Nevada’s expanding retailers.
To this end, in March the Company launched Old Pal in the Nevada market and the Company is now working toward launching SKUs for all of our Brand Partners in Nevada, including Flyte Concentrates and CannAmercia Brands, whose launch is currently expected to occur in this second quarter.
To support the Company’s retail channel filling efforts, the Company plans to lease and open two new facilities:
- A 4,000 square foot Sales Office to house the Company’s Nevada sales and marketing team, which is also expected to include a call center and showroom to display the range of product SKUs the Company will be producing for its Brand Partners.
- A 30,000 square foot Pre-Packaging and Inventory Management Facility that would be responsible for managing the logistics and supply chain management of the Company’s Brand Partners product packaging, hardware and ancillary labelling materials.
We are also pleased to announce the hiring of long-time Nevadan Debbie Bingham as the Director of Sales and Marketing for Flower One’s Nevada operations. Debbie brings a depth of experience in business development, sales, marketing, business unit planning and channel and partner development to the Flower One team. Previously, Debbie was an integral part of growing Vegas.com into a US$300M company through her knowledge of executing a range of B2B and B2C business strategies.
F. Company Financings and Exchange Traded Funds (ETFs)
In February, the Company completed a US$30M lease equipment facility, with US$20M being drawn down to date. This provides the Company with additional financial flexibility to be responsive in managing the Company’s growth plan in Nevada and beyond.
In March, the Company completed its first prospectus offering as a public company for a total raise of CAN$57.5M (including full exercise of over-allotment option). We have used and plan to use these funds for the ongoing construction and development of our flagship greenhouse and production facility, working capital and general corporate purposes.
These successful financings were followed more recently by three Exchange Traded Funds (ETFs) taking positions in the Company. These ETFs are the Horizons U.S. Marijuana ETF, the Horizons Emerging Marijuana Growers Index ETF, and the Evolve U.S. Marijuana ETF.
This has been a period of positive operational performance for the Company. The Board, Advisory Team and Management wish to acknowledge and express our sincere thanks to the entire Flower One team for the passion and tireless commitment to deliver results for the Company. We have a best-in-class team and are extremely proud of all that they have accomplished to date.
On behalf of our Board, Advisory Team, and Management, we also wish to express our ongoing gratitude to you for being a valued shareholder and for sharing our vision of Flower One.
President and CEO
Flower One Holdings Inc.
Cautionary Note Regarding Forward Looking Information
Statements in this press release that are not statements of historical or current fact constitute “forward looking information” within the meaning of Canadian securities laws and “forward looking statements” within the meaning of United States securities laws (collectively, “forward-looking statements”). Such forward-looking statements involve known and unknown risks, uncertainties, and other unknown factors that could cause the actual results of the Company to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms “believes,” “belief,” “expects,” “intends,” “anticipates,” “potential,” “should,” “may,” “will,” “plans,” “continue” or other similar expressions to be uncertain and forward looking. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Forward-looking statements may include, without limitation, statements relating to the successful execution of the Company’s strategy, including its plan to become the leading brand fulfillment partner in Nevada, the Company’s ability to complete the conversion of the greenhouse on schedule, the expected operation and perpetual cycle harvesting zone of the Company’s greenhouse, the timing of Flower One’s inaugural Zone One harvest, the production and housing capacity of the Company once fully canopied, potential accelerated operations of the 55,000 Square Foot Post-Harvest, Extraction and Packaging Facility, the Company’s ability to incorporation new brand partners and develop new products, the continued growth, maturity and retail sales of the cannabis sector in Las Vegas and, more broadly, in Nevada, and the United States, the Company’s ability to consistently meet its Brand Partners requirements, the effect of the Company on its Brand Partners’ brands, the focus of the Company’s indoor facility, the Company’s ability to create a high-performing research centre, the Company’s ability to achieve scale cultivation, the Company’s ability to launch SKUs for all of its Brand Partners, the Company’s ability to open new sales and marketing and pre-packaging and inventory management facilities, the Company’s ability to raise further capital and the confidence the capital markets will express in supporting Flower One’s overall business plan, future profitability, , dividends, volume and pace of anticipated catalysts for the Company, new opportunities, future growth and production, potential return on equity, date of completion of the processing facility, future retail presence and potential benefits of retail strategy, and potential capabilities of the cultivation and processing facility in Nevada.
The Company is indirectly involved in the manufacture, possession, use, sale and distribution of cannabis in the recreational and medicinal cannabis marketplaces in the United States through its subsidiary Cana Nevada Corp. Local state laws where Cana Nevada Corp. operates permit such activities; however, these activities are currently illegal under United States federal law. Additional information regarding this and other risks and uncertainties relating to the Company’s business are contained under the heading “Risk Factors” in the Company’s short form prospectus dated March 22, 2019 filed on its issuer profile on SEDAR at www.sedar.com.
Although Flower One has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; investing in target 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 and state adoption due to inconsistent public opinion and perception of the medical-use and adult-use marijuana industry and; regulatory or political change.
The forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement, the “Forward-Looking Statements” section contained in the Company’s most recent management’s discussion and analysis (“MD&A”), which are available on SEDAR at www.sedar.com. All forward-looking statements in this press release are made as of the date of this press release. The Company does not undertake to update any such forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. The forward-looking statements contained herein are also subject generally to assumptions and risks and uncertainties that are described from time to time in the Company’s public securities filings with the Canadian securities commissions, including the Company’s most recent MD&A.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR THEIR REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
For further information: Investor Relations & Media: NATIONAL Capital Markets, 416.848.9835, firstname.lastname@example.org; Flower One Holdings Inc.,Ken Villazor, President and CEO, 416.913.9642, email@example.com
Curaleaf Holdings, Inc. (CSE: CURA OTCQX: CURLF) (“Curaleaf” or the “Company”) a leading international provider of consumer products in cannabis, today announced that it will report its financial and operating results for the first quarter ended March 31, 2021 after market close on May 10, 2021 .
Management will host a conference call and audio webcast that evening at 5:00 p.m. ET consisting of prepared remarks followed by a question and answer session related to the Company’s operational and financial highlights.
Curaleaf First Quarter 2021 Financial Results Conference Call
Monday, May 10, 2021
5:00 p.m. ET
+1-888-317-6003 (U.S.), +1-866-284-3684 (Canada) or +1-412-317-6061 (Int’l)
For interested individuals unable to join the conference call, a dial-in replay of the call will be available until May 17, 2021 and can be accessed by dialing +1-877-344-7529 (U.S.), +1-855-669-9658 ( Canada ) or +1-412-317-0088 (International) and entering replay pin number: 10155488.
About Curaleaf Holdings
Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) (“Curaleaf”) is a leading international provider of consumer products in cannabis with a mission to improve lives by providing clarity around cannabis and confidence around consumption. As a high-growth cannabis company known for quality, expertise and reliability, the Company and its brands, including Curaleaf and Select, provide industry-leading service, product selection and accessibility across the medical and adult-use markets. In the United States , Curaleaf currently operates in 23 states with 105 dispensaries, 23 cultivation sites and over 30 processing sites, and employs over 4,600 team members. Curaleaf International, is the largest vertically integrated independent cannabis company in Europe with a unique supply and distribution network throughout the European market, bringing together pioneering science and research with cutting-edge cultivation, extraction and production. Curaleaf is listed on the Canadian Securities Exchange under the symbol CURA and trades on the OTCQX market under the symbol CURLF. For more information, please visit https://ir.curaleaf.com .
Curaleaf Holdings, Inc.
Carlos Madrazo , SVP IR & Capital Markets
Tracy Brady , VP Corporate Communications
SOURCE Curaleaf Holdings, Inc.
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Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), a leading and top-performing cannabis company based in the United States announced today the opening of two new stores, the Company’s 85 th and 86 th nationwide to commemorate the 50 th anniversary of 420, the holiday recognizing cannabis culture.
The new Florida dispensaries, the Company’s 80 th and 81 st in the state, located in Eustis and Palm Beach Gardens , further demonstrate Trulieve’s goal of ensuring direct, reliable access to medical cannabis across its home state.
In addition to promotions happening in-stores and online, partner representatives from Blue River , Black Tuna, SLANG Worldwide, and Sunshine Cannabis will be at the Palm Beach Gardens location. Select brand representatives will also be available at the Eustis opening.
In honor of the Company’s newest dispensaries, all patients — from those new to Trulieve to the dedicated Truliever community — will be eligible for a 25% in-store discount at the Palm Beach Gardens and Eustis dispensaries on opening day.
“It’s great to be celebrating 50 years of 420 in the cannabis community today. We’ve come a long way,” said Trulieve CEO Kim Rivers . “Medical cannabis has brought comfort and relief to so many patients, and we’re excited to celebrate an event that has such a huge cultural significance. The positive impact on communities and individuals by medical cannabis cannot be fully quantified. Trulieve is grateful to provide these resources to our patients and customers and be an integral part of the changing community.”
ANNOUNCING : Trulieve Palm Beach Gardens Grand Opening
WHERE : 3555 Northlake Blvd, Suites 14099 and 14103, Palm Beach Gardens, FL 33403
WHEN : Tuesday, April 20, 2021 , at 9:00 a.m.
ANNOUNCING : Trulieve Eustis Grand Opening
WHERE : 2901 S. Bay St, Eustis, FL 32726
WHEN : Tuesday, April 20, 2021 , at 9:00 a.m.
In stores and online, patients will find Florida’s largest selection of THC and CBD products in a variety of delivery methods, including edibles, smokable cannabis, concentrates, tinctures, topical creams, vaporizers, and more. Trulieve also offers home delivery statewide for patients and convenient in-store pickup at each of its dispensaries in Florida .
To assist patients with ordering, Trulieve has made the entire catalog of products available for online ordering, with in-store pickup and statewide home delivery options available. Patients can schedule a complimentary 30-minute virtual consultation with a Trulieve certified consultant to help navigate questions on products, devices, or review their doctor’s recommendation.
All visitors are required to wear masks for the duration of their dispensary visit. Only patients and their state-approved caregivers will be allowed inside the waiting room and dispensary at this time.
The Office of Medical Marijuana Use recently announced the registry has surpassed 530,000 registered medical marijuana patients with an active ID card, with Trulieve consistently selling approximately half of the state’s overall volume per the Florida Department of Health. To support the state’s rapidly growing patient base, there are over 2,400 registered ordering physicians in the State of Florida .
For more information, please visit www.Trulieve.com .
Trulieve is primarily a vertically integrated “seed-to-sale” company in the U.S. and is the first and largest fully licensed medical cannabis company in the State of Florida . Trulieve cultivates and produces all of its products in-house and distributes those products to Trulieve-branded stores (dispensaries) throughout the State of Florida , as well as directly to patients via home delivery. Trulieve also has operations in California , Massachusetts , Connecticut and Pennsylvania. Trulieve is listed on the Canadian Securities Exchange under the symbol TRUL and trades on the OTCQX market under the symbol TCNNF .
To learn more about Trulieve, visit www.Trulieve.com .
SOURCE Trulieve Cannabis Corp.
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CANBUD Distribution Corp. (CSE:CBDX, FSE:CD0) leverages on timely and methodical execution of its revenue generating plan. It operates a trinitarian enterprise model in the plant-based protein, psychedelic pharmaceutical and non-psychedelic nutraceutical, and hemp cannabinoids (CBD) spaces. (www.canbudcorp.com).
The company’s vision and mission is to become a world leader in science and technological innovations through plant and mushroom-based disruptive wellness and environmental solutions.
MISSISSAUGA, Ontario TheNewswire – April 19, 2021 Sire Bioscience Inc. (CSE:SIRE) (OTC:BLLXF) (FSE:BR1B) (CNSX:SIRE.CN) (“ SIRE ” or the “ Company ”) is pleased to announce that, in addition to Purple K, Canada’s top selling creatine pills, the Company’s wholly owned subsidiary, Fusion Nutrition Inc. (“ Fusion ”) in the coming 12 weeks will be launching 3 new creatine products:
– Purple K powder
– Purple K PURE capsule
– Purple K PURE powder
Brian Polla, CEO, COO and a director of the Company commented: “ For the first time under new management Fusion is shipping and selling products directly from the United States. This presents us with a significant potential new client base. This is the first country that we have opened, outside of Canada. Based on the market research we have conducted; we expect strong success with the launch of these new products”.
The Canadian Securities Exchange (“CSE”) has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
About Sire Bioscience
SIRE is headquartered in Mississauga, Ontario, and is managed by a group of successful entrepreneurs who have extensive experience in the areas of consumer-packaged goods, manufacturing, logistics, and distribution. SIRE is a CPG life science company focused on the plant-based foods and supplements industry.
For additional information contact:
Sire Bioscience Inc.
Forward‐Looking Information Cautionary Statement
This press release may contain certain “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Forward-looking statements may be identified by statements containing the words “believes”, “anticipates”, “plans”, “intends”, “will”, “should”, “expects”, “continue”, “estimate”, “forecasts” and other similar expressions. Forward-looking statements herein include, but are not limited to, statements expectations of management’s focus on and growth expectations of the Fusion product lines and the Company’s business and strategic plans. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. SIRE undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of SIRE, its securities, or financial or operating results (as applicable). Although SIRE believes that the expectations reflected in forward-looking statements in this press release are reasonable, such forward-looking statement has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond SIRE’s control, including the risk factors discussed in SIRE’s Listing Statement dated August 22, 2019 which is available on SIRE’s SEDAR profile at www.sedar.com . The forward-looking information contained in this press release is expressly qualified by this cautionary statement and are made as of the date hereof. SIRE disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
Copyright (c) 2021 TheNewswire – All rights reserved.
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BevCanna’s Naturo Group Signs Exclusive Distribution Agreement for TRACE in Japan and the Philippines
Market entry will address pent-up demand in the Japanese & Philippine markets for TRACE proprietary plant-based mineral formulation and wellness-focused products
Emerging leader in innovative health and wellness beverages and natural products, BevCanna Enterprises Inc. ( CSE:BEV , Q:BVNNF , FSE:7BC ) (“ BevCanna ” or the “ Company ”) announces today that has entered into an exclusive sales agency distribution agreement with Yokohama-based Mirai Marketing Inc. (“Mirai”) to bring Naturo Group’s TRACE proprietary plant-based mineral consumer products to Mirai’s extensive Japanese and Philippine sales and distribution networks.
Mirai will assist BevCanna with their entry into the new markets, providing connections to established companies with robust distribution networks. Mirai has significant knowledge and relationships in the wellness products market and has facilitated over $100M in transactions with some of Asia’s largest trading companies and retail chains. The well-known distributor will leverage this extensive experience to rapidly scale the TRACE brand throughout the territories. The initial term of the agreement will be two years, with exclusivity subject to a minimum net revenue of C$1.0M over the course of the term and incentives to reach over C$5.0M during the term.
“We’re in active discussions with a number of distributors, wholesalers, trading companies and retailers to determine the best fit for the TRACE brand in the Japanese and Philippine markets,” said Melise Panetta, President of BevCanna. “Japanese consumers in particular are very health-conscious, and prospective partners have confirmed that the wellness benefits of our TRACE portfolio will be very appealing to this demographic.”
With over 40 years of experience working with some of Asia’s largest corporations, Mirai Marketing was founded by a team of Canadian and Japanese principals who have extensive experience in international sales, management and project development in a range of industries. Mirai is actively focusing on expanding sales of Naturo Group’s beverage and natural wellness products throughout Asia.
“We’re very excited to represent the TRACE products in the Japanese and Philippine marketplaces,” said Hideaki Sakuma, COO of Mirai. “We’ve seen an incredible growth in the demand for wellness-focused products by Asian consumers in recent years and an eagerness to participate in the evolution of health products. The TRACE line is certain to be a strong performer in this emerging market.”
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 .
On behalf of the Board of Directors:
John Campbell, Chief Financial Officer and Chief Strategy Officer
Director, BevCanna Enterprises Inc.
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: the Company’s agreement with Mirai, including the potential benefits thereof; the Japanese market for TRACE products and that the Company’s products will be very appealing to Japanese consumers; that there has been incredible growth in the demand for wellness-focused products by Japanese consumers in recent years and an eagerness to participate in the evolution of health products; that the TRACE line is certain to be a strong performer in this emerging market; 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.
Stock Option Grant
In connection with the sales agency distribution agreement with Mirai, the Company has granted (the “Grant”) an aggregate of 1,000,000 stock options (each, an “Option”) to purchase up to 1,000,000 common shares of the Company to Mirai. The Options granted vest upon the achievement of certain sales performance milestones and are exercisable for a period of 25 months from the date of Grant at a price of $1.50 per common share.
None of the securities acquired in the Grant will be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This news release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.
For media enquiries or interviews:
Wynn Theriault, Thirty Dash Communications Inc.
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