Xanthic Biopharma Inc. doing business as Green Growth Brands Ltd. (“Green Growth”) (CSE:GGB) announced today that it currently intends to make an offer (the “Offer”) to purchase all of the issued and outstanding common shares (the “Aphria Shares”) of Aphria Inc. (“Aphria” or the “Company”) (TSX: APHA and NYSE: APHA) which it does not already own.
The Offer will provide Aphria shareholders with 1.5714 common shares of Green Growth (the “Green Growth Shares”) for each Aphria Share and represents premiums of 45.5% over Aphria’s closing price on the Toronto Stock Exchange (the “TSX”) on December 24, 2018 and 46.0% over Aphria’s volume weighted average price on the TSX for the last 10 trading days ended December 24, 2018. The Offer values Aphria at approximately C$2.8 billion (US$2.1 billion) based on a valuation of C$7.00 per share for Green Growth Shares.
“We believe our offer will create value for both Aphria and Green Growth shareholders. We are confident that the significant premium we are offering and the opportunity to participate in the growth of a stronger, combined company are so compelling that we are taking our offer directly to Aphria’s shareholders. Together, we can unleash synergies between our teams, assets and geographies, forming a combined enterprise that will accelerate our collective growth strategies in Canada, the U. S. and overseas,” said Peter Horvath, CEO of Green Growth.
Green Growth expects to complete a concurrent brokered financing of C$300 million, at a price per share of C$7.00, to both illustrate confidence in the value of the consideration under the Offer and to fund the business growth of the combined entity. Green Growth expects that certain of its existing shareholders will commit to backstop the C$300 million financing concurrently with the execution of a business combination agreement with Aphria or the take up of shares under the anticipated Offer.
Prior to announcing its intention to take the Offer directly to shareholders, Green Growth engaged Aphria’s board to attempt to negotiate a friendly business combination that included, among other things, a very short exclusivity period to allow both parties to seriously consider the combination; a full go-shop provision in favor of Aphria; and the preservation of Aphria’s management and commitment to board representation at the combined company. Aphria’s shareholders should be aware that Green Growth offered that upon a friendly business combination with support from Aphria’s board, Green Growth would invest C$50 million in equity at an Aphria per share value of C$11.00.
Why a Combined Green Growth and Aphria is Better for Shareholders
Combining Aphria with Green Growth is the fastest way to create significant value for shareholders of both companies. The combined entity:
Creates an Unparalleled North American Player with Canadian and U.S. Operations. Aphria has a large footprint in Canada and supply agreements with all provinces and the Yukon Territory and strong strategic partnerships establishing wholesale supply agreements. Green Growth operates vertically integrated cannabis operations including cultivation, manufacturing and retail assets in Nevada, including recently being awarded seven retail cannabis dispensary licenses. Together, the pro forma company will have a strong foundation, extensive retail relationships and infrastructure to capture significant future growth as international markets evolve.
Increases Scale, Footprint, and Creates the Preeminent U.S. Consolidator. The combined company will be the largest U.S. operator by market capitalization and the only North American cannabis operator.
Combines Aphria’s Cultivation and Production Capacity with Green Growth’s Retail Strength. The combined company will marry Aphria’s low-cost cultivation and near-term production capacity with Green Growth’s vast retail know-how to capture market share while maintaining lean margins. Aphria’s current cash cost per gram is C$1.30 and is expected to further decrease to C$0.95 per gram with projected annual capacity of over 250,000 kg by early 2019 (Aphria Q1 2019 Investor Presentation dated October 11, 2018). Green Growth’s strong management team has a proven track record of delivering at the retail level and is already operating a best-in-class dispensary in Las Vegas.
Poised to Benefit from Transformational Cannabis-Related Regulatory Changes in the World’s Largest Cannabis Market. Green Growth will soon be rolling out a consumer-focused line of CBD products, initially focused on topicals and balms, and is well-positioned to benefit from further pro-cannabis U.S. regulation in the near-to-medium term.
Unites Best-in-Class Management Teams: Aphria’s Pharmaceutical and Greenhouse Operational Experience and Green Growth’s Proven Retail Expertise. Aphria’s team is comprised of veterans in the greenhouse industry and proven operators of large pharmaceutical companies. Green Growth’s CEO held senior positions at a number of well-known retailers including Designer Shoe Warehouse Inc. and L Brands Inc. (Victoria’s Secret). Additionally, Green Growth’s largest shareholder, the Schottenstein family, has deep relationships in the retail sector.
Benefits to Aphria Shareholders
While Aphria shareholders may be discouraged by recent events and having seen their investment significantly impacted, they should be aware of the immediate benefits of the Offer and reasons to tender:
- Significant and immediate 45.5% premium to market price.
- Meaningful ownership position in a combined entity that is poised for further growth.
- Potential for further downward share price impact if the Offer is not accepted.
Green Growth believes it already has support for the Offer from Aphria shareholders holding approximately 10% of the outstanding Aphria Shares. Green Growth has additionally acquired a meaningful toehold position in Aphria.
It is expected that following the Offering Green Growth will continue to be listed on the Canadian Securities Exchange under the symbol GGB.
Questions? Need more help? Aphria shareholders should contact Kingsdale Advisors, the information agent and depositary for the Offer, at 1-866-851-3214 (North American Toll-Free Number) or +1-416-867-2272 (Outside North America) or via email at firstname.lastname@example.org.
Intention to Make an Offer
Full details of the Offer are expected to be set out in the formal Offer and take-over bid circular which is expected to be mailed to Aphria shareholders, a copy of which is expected to be available at www.sedar.com under Aphria’s profile. Green Growth expects to formally commence the Offer and mail the Offer and take-over bid circular to Aphria shareholders over the coming weeks.
Readers are cautioned that Green Growth may determine not to make the Offer if (i) Aphria implements or attempts to implement defensive tactics in relation to the Offer, (ii) Green Growth uncovers or its contemplated funding sources uncover or otherwise identify information suggesting that the business, affairs, prospects or assets of Aphria have been impaired or uncovers or otherwise identifies other undisclosed material adverse information concerning Aphria or (iii) Aphria determines to engage with Green Growth to negotiate the terms of a combination transaction and Aphria and Green Growth determine to undertake that transaction utilizing a structure other than a take-over bid such as a plan of arrangement. Accordingly, there can be no assurance that the Offer will be made or that the final terms of the Offer will be as set out in this news release. In addition, the contemplated consummation of a concurrent brokered financing of C$300 million, at a price per share of C$7.00, and the contemplated backstop commitment in that regard, are subject to a variety of contingencies and conditions, including satisfactory completion of customary due diligence as to both Aphria and Green Growth, agreement on mutually agreeable definitive documentation, and other customary undertakings and conditions. No binding commitment of any kind has yet been made in this regard, and readers should not assume any such commitment will be made unless and until reflected in a binding instrument agreed by the contemplated funding sources, which cannot and should not be assumed or assured.
The Offer will be undertaken in accordance with National Instrument 62-104 – Take-Over Bids and Issuer Bids and will be subject to a number of customary conditions, including: (i) there being deposited under the Offer, and not withdrawn, at least 66 2/3% of the outstanding Aphria Shares (calculated on a fully diluted basis), excluding Aphria Shares held by Green Growth; (ii) receipt of all governmental, regulatory, stock exchange and third party approvals that Green Growth considers necessary or desirable in connection with the Offer; (iii) there being no legal prohibition against Green Growth making the Offer or taking up and paying for the Aphria Shares; (iv) Aphria not having adopted or implemented a shareholder rights plan, disposed of any assets, incurred any material debts, implemented any changes in its capital structure or otherwise implemented or attempted to implement a defensive tactic; (v) no material adverse change having occurred in the business, affairs, prospects or assets of Aphria; (v) Green Growth not becoming aware of Aphria having made any untrue statement of a material fact or omitting to state a material fact that is required to be made to any securities regulatory authority; (vi) approval by the shareholders of Green Growth in accordance with the policies of the Canadian Securities Exchange; and (vii) the statutory minimum condition that 50% of the Aphria Shares having been tendered to the Offer, excluding Aphria Shares held by or over which control is exercised by Green Growth (which cannot be waived). If the Offer proceeds, Green Growth expects to call during the first quarter of 2019 a meeting of its shareholders to consider a resolution to approve the issuance of the Green Growth Shares in connection with the Offer. Green Growth expects the Offer, when made, will remain open for an acceptance period of at least 105 days from the date of mailing its take-over bid circular. It is within the power of the Board of Directors of Aphria to significantly shorten this minimum bid period, allowing shareholders to receive the benefits of Green Growth’s offer in only 35 days. Shareholders of the Company are encouraged to contact Aphria and to urge management and the Board to allow Green Growth’s takeover bid to proceed in the minimum time frame allowed.
Green Growth Brands has retained Canaccord Genuity as its financial advisor, Norton Rose Fulbright Canada LLP as its legal advisor, and Kingsdale Advisors as its strategic shareholder and communications advisor and depositary.
About Green Growth Brands
Green Growth brands expects to dominate the cannabis and CBD market with a portfolio of emotion-driven brands that people love. Led by renowned retailer Peter Horvath, the GGB team is full of retail renegades with decades of experience building successful brands. Join the movement at GreenGrowthBrands.com.
Executive Vice President, Communication Strategy
Cautionary Statement in Forward-Looking Information [NTD: Subject to ongoing review]
This press release contains certain statements and information which constitute “forward-looking information” within the meaning of applicable securities laws. Wherever possible, forward-looking information can be identified by the expressions “seeks”, “expects”, “believes”, “estimates”, “will”, “plans”, “may”, “believes”, “anticipates,” “target” and similar expressions (or the negative of such expressions). The forward-looking statements are not historical facts, but reflect the current expectations of Green Growth regarding future results or events and are based on information currently available to it. The forward-looking events and circumstances discussed in this release include, but are not limited to, (i) the Offer, the terms of the Offer and the anticipated timing of commencement of the Offer, (ii) the benefit of the Offer to both Green Growth and the Company, including the creation of wealth and value and the synergies that may be created by the Offer, (iii) the C$300 financing, its timing and terms, (iv) expectations regarding the ownership, management, operation and size of Green Growth following completion of the Offer, (v) the future strategy and plans of Green Growth, including following the Offering, and (vi) the cannabis industry and regulatory environment. Certain material factors and assumptions were applied in providing this forward-looking information. All material assumptions used in making forward-looking statements are based on Green Growth’s knowledge of its business and the business of Aphria, and, in some cases, information supplied by third parties, including the public disclosure made by the Company. Certain material factors or assumptions include, but are not limited to, (i) the current business conditions and expectations of future business conditions and trends affecting Green Growth and Aphria, including the US and Canadian economy, the cannabis industry in Canada, the US and elsewhere, and capital markets, and (ii) that there have been no material changes in the business, affairs, capital, prospects or assets of the Company, except as publicly disclosed by the Company before the date hereof. All forward-looking statements in this press release are qualified by these cautionary statements. Green Growth believes that the expectations reflected in forward-looking statements are based upon reasonable assumptions; however, Green Growth can give no assurance that the actual results or developments will be realized by certain specified dates or at all. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to vary materially from current expectations. In addition to risks noted elsewhere in this news release, material risks include, but are not limited to, (i) the risk that the Offer will not be commenced or that the conditions to the Offer will not be met, or met on a timely basis, or that the transaction will not be consummated for any other reason, (ii) changes in general economic conditions in Canada, the United States and elsewhere, (iii) changes in operating conditions (including changes in the regulatory environment) affecting the cannabis industry, (iv) fluctuations in currency and interest rates, availability materials and personnel, and (v) Green Growth’s ability to successfully integrate the operations of Green Growth and Aphria following completion of the Offer, including ability to retain key Aphria personnel and renegotiate certain contracts to obtain economies of scale or other synergies. Readers, therefore, should not place undue reliance on any such forward-looking information. Further, forward-looking information speaks only as of the date on which such statement is made. Green Growth undertakes no obligation to publicly update any such statement or to reflect new information or the occurrence of future events or circumstances except as required by securities laws. These forward-looking statements are made as of the date of this press release. Cautionary Statement Respecting the Proposed Offer
GREEN GROWTH HAS NOT YET COMMENCED THE OFFER NOTED ABOVE. UPON COMMENCEMENT OF THE OFFER, GREEN GROWTH WILL DELIVER THE TAKE-OVER BID CIRCULAR TO HOLDERS OF THE SHARES IN ACCORDANCE WITH APPLICABLE CANADIAN SECURITIES LAWS AND WILL FILE A TAKE-OVER BID CIRCULAR WITH THE SECURITIES COMMISSIONS IN EACH OF THE PROVINCES AND TERRITORIES OF CANADA. THE TAKE-OVER BID CIRCULAR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE OFFER AND SHOULD BE READ IN ITS ENTIRETY BY APHRIA’S SHAREHOLDERS. AFTER THE OFFER IS COMMENCED, APHRIA’S SHAREHOLDERS WILL BE ABLE TO OBTAIN, AT NO CHARGE, A COPY OF THE TAKE-OVER BID CIRCULAR AND VARIOUS ASSOCIATED DOCUMENTS UNDER APHRIA’S PROFILE ON THE SYSTEM FOR ELECTRONIC DOCUMENT ANALYSIS AND RETRIEVAL (SEDAR) AT WWW.SEDAR.COM. THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER TO BUY OR INVITATION TO SELL, OTHERWISE ACQUIRE, OR SUBSCRIBE FOR ANY SECURITY. THE OFFER WILL ONLY BE MADE PURSUANT TO A FORMAL OFFER AND TAKE-OVER BID CIRCULAR. THE OFFER WILL NOT BE MADE IN, NOR WILL DEPOSITS OF SECURITIES BE ACCEPTED FROM A PERSON IN, ANY JURISDICTION IN WHICH THE MAKING OR ACCEPTANCE THEREOF WOULD NOT BE IN COMPLIANCE WITH THE LAWS OF SUCH JURISDICTION. HOWEVER, GREEN GROWTH MAY, IN ITS SOLE DISCRETION, TAKE SUCH ACTION AS IT DEEMS NECESSARY TO EXTEND THE OFFER IN ANY SUCH JURISDICTION.
Securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Securities will not be offered, nor will deposits of securities be accepted from a person, in any State of the United States in which the offering of securities, or acceptance thereof, would not be in compliance with the laws of such jurisdiction.
Neither the SEC nor any securities commission of any State of the United States has (a) approved or disapproved of the Offer, (b) passed upon the merits or fairness of the Offer, or (c) passed upon the adequacy or accuracy of the disclosure in this document. Any representation to the contrary is a criminal offense in the United States.
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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