- Sold nearly 406 kgs of premium cannabis despite having only 20% of the grow rooms in Kelowna 1 operational in Q4 18
- Gross revenue of C$3.3 million, net revenue of C$2.9 million, with an average net realized price of C$7.08/gram after receiving sales license in August 2018
- Broke ground on 50,000 square foot, first-of-its-kind R&D Facility in partnership with Hawthorne Canada, a subsidiary of The Scotts Miracle-Gro Company
The Flowr Corporation (TSXV:FLWR; OTC:FLWPF) (“Flowr” or the “Company”), a Canadian Licensed Producer and global leader in premium cannabis R&D, innovation, and cultivation, today announced its results for the fourth quarter and full year ended December 31, 2018. The Company’s financial statements and management’s discussion and analysis for the periods are available on SEDAR at www.sedar.com. All results are reported in Canadian Dollars.
“2018 was an incredibly eventful year at Flowr and we are only just getting started. As a global leader in the premium cannabis industry, our design and cultivation expertise along with our superior IP know-how enables us to grow high quality cannabis on a large scale at what we believe will be industry-leading yields. The revenue numbers reflect our ability to grow and process high quality product with only a fraction of our facility and packaging area complete. Once our Kelowna 1 facility is completed in Q3 2019, our operational efficiency will only improve.”
Flowr Co-CEO Vinay Tolia continued, “The fourth quarter of 2018 marked a major milestone for Flowr, as we launched our medicinal and recreational sales channels after receiving our licenses in August 2018, and sold nearly 406 kilograms of premium cannabis, despite having only 20% of our grow rooms in Kelowna 1 operational during the quarter itself. As of today, we have 10 grow rooms in Kelowna 1 licensed for use and expect to have all 20 grow rooms fully constructed in the third quarter of 2019. Completion of Kelowna 1 should enable us to begin capitalizing on strategic growth opportunities for medicinal and recreational use with approximately 10,000 kilograms of capacity for premium cannabis flower on an annualized basis.”
Results of Operations Three Months Ended December 31, 2018, and December 31, 2017
Net loss in Q4 2018 totaled $6,059,002 which was $4,171,257 higher than the net loss in Q4 2017. The increase is mainly driven by the ramp up of the activities related to cultivation operations, harvests and sales. Key costs in Q4 2018 were cost of sales, selling, general and administrative expenses and share-based compensation partially offset by unrealized gains on changes in fair value of biological assets.
Selling, general and administrative expenditures, consisting primarily of salaries and professional fees, were $4,286,622 in Q4 2018 compared to $1,411,933 in Q4 2017. Share-based compensation was $3,356,823 in Q4 2018 compared to $601,536 in Q4 2017. Share-based compensation expense in Q4 2018 resulted from the issuance of stock options in the latter half of 2018 primarily to officers and directors of the Company.
Adjusted EBITDA (Non-IFRS Measure)
Adjusted EBITDA is net loss, plus (minus) income taxes (recovery), plus (minus) interest income (expense), net, plus depreciation and amortization, plus share-based compensation, plus (minus) non-cash fair value adjustments on biological assets and inventory sold, plus listing expense costs and plus (minus) loss (gain) on investments. Management believes this measure provides useful information as it is a commonly used measure in the capital markets and as it is a close proxy for repeatable cash used by operations.
Adjusted EBITDA losses were higher for the three and twelve months ended December 31, 2018 compared to 2017 by $1,832,000 and $6,053,000, respectively, due to the ramp up of cultivation, operating activities and sales in 2018.
Recent Business Developments
- On December 20, 2018 Flowr announced that it had entered into an agreement to acquire a 19.8% interest in Holigen Holdings Limited (Holigen). Holigen is a European-based cannabis company in the process of developing large-scale cannabis cultivation facilities and Good Manufacturing Process (GMP) compliant production facilities that are expected to provide finished medical cannabis products, pharmaceutical ingredients, and plants and seeds to medical cannabis markets globally. Benefitting from Portugal’s climate, cost-effective land and labour, and the high crop yields it expects to generate by employing Flowr’s cultivation IP that has been provided by Flowr, Holigen could be among the lowest cost producers in the world. The closing of the acquisition is subject to certain customary closing conditions.
- In February 2019, another stage of construction was completed resulting in 6 additional grow rooms, similar in size to existing grow rooms, with 4 available for use and propagated with plants. Flowr expects to complete construction of Kelowna 1 by the end of Q3 2019. As of today, Flowr has a total of 10 grow rooms licensed, of which 8 are propagated with plants. Upon completion of the final stages of construction, an additional 10 grow rooms will become available.
- On February 5, 2019 Flowr announced that it submitted an application to list its common shares on The NASDAQ Capital Market (“NASDAQ”) and filed a Form 40-F Registration Statement with the U.S. Securities and Exchange Commission (“SEC”). The listing of Flowr’s shares on the NASDAQ will be subject to a number of regulatory requirements, including registration of the common shares with the SEC and a determination by the NASDAQ that Flowr has satisfied all applicable listing requirements. Subject to approval for listing, the common shares will continue to trade on the TSXV under FLWR. A trading date will be made public once all regulatory formalities are satisfied.
- On March 8, 2019 Flowr announced its FlowrRx® products are now available for purchase through Shoppers Drug Mart’s online medical cannabis site, shoppersdrugmart.ca/cannabis and that Shoppers Drug Mart will be the direct-to-patient online provider of FlowrRx® products in Canada. Medical Cannabis by Shoppers Drug Mart is currently available only to patients in Ontario. Previously FlowrRx® products were available online to patients registered via Flowr’s website.
Recent Leadership Developments
- Expansion of the R&D team with the hiring of North America’s first cannabis cultivation Doctor of Philosophy (Ph.D.) Deron Caplan as director of plant science.
- Celebrated Canadian Chef Ryan Reed to develop signature edible cannabis products. Chef Reed will collaborate closely with Flowr’s R&D Team to research and develop high-quality edibles that are expected to address the needs of a premium client.
- Promotion of Jason Broome to the role of Chief Research and Innovation Officer (CRIO). Mr. Broome previously served as Senior Vice President of Operations. As CRIO, Mr. Broome will seek to develop new high-quality products and lead Flowr’s research into cultivars, form factors and delivery systems for the global markets. He will also oversee Flowr’s state-of-the-art R&D facility, part of an exclusive partnership with Hawthorne Canada, a subsidiary of The Scotts Miracle-Gro Company.
- Flowr is expected to begin selling a wide selection of cannabis cultivars in both clone and seed form in Q2 2019. The Company expects that its highly efficient cultivation process will allow it to produce more than 3.2 million high quality clones on an annualized basis once its initial cultivation facility is completed. These clones will be incremental to Flowr’s cultivation process and therefore will be in excess of what it needs for its retail and medical production.
- On February 12, 2019, Flowr completed the purchase of land adjacent to its Kelowna 1 facility. The Company intends to use these properties for greenhouse and outdoor production of cannabis and extraction of such other form factors (“Flowr Forest”). Pending Health Canada approval, Flowr plans to begin construction of 42 greenhouses, each of approximately 4,500 sq. ft. in size. As well, there are plans for roughly 150,000 sq. ft. of outdoor grow on the same land. The products cultivated from Flowr Forest are intended to be used for extraction in developing edibles and concentrates.
- Flowr intends to develop a second facility (“Kelowna 2”) on adjacent land parcels that have already been purchased. Kelowna 2 is expected to be four times the size of Kelowna 1 and have 80 grow rooms. The Company would require additional sources of financing to move forward with the project.
Conference Call and Webcast
Flowr will host a conference call and webcast today at 5:00 p.m. Eastern Time. A question-and-answer session will follow.
Toll Free: 1-877-705-6003
A telephonic replay of the call will be available later that same day through Thursday, April 18, 2019. To listen to the archived call, dial Toll Free 1-844-512-2921 or Toll/International 1-412-317-6671 and enter replay pin number 13689126, or access the webcast replay via Flowr’s website.
About The Flowr Corporation
Flowr, through its subsidiaries, holds a cannabis production and sales license granted by Health Canada. With a head office in Toronto and a production facility in Kelowna, BC, Flowr builds and operates large-scale, GMP-designed cultivation facilities. Flowr’s investment in research and development along with its sense of craftsmanship and a spirit of innovation is expected to enable it to provide premium-quality cannabis that appeals to the adult-use recreational market and addresses specific patient needs in the medicinal market.
For more information, visit www.flowr.ca. Follow Flowr on Twitter: @FlowrCanada; Facebook: Flowr Canada; Instagram: @flowrcanada; and LinkedIn: The Flowr Corporation.
On behalf of The Flowr Corporation:
Co-CEO and Director
Non-IFRS Financial Measures
This press release makes reference to certain measures that are not recognized measures under International Financial Reporting Standards (“IFRS”). These non-IFRS measures are not recognized measures under IFRS and do not have a standardized meaning prescribed by IFRS, and are therefore unlikely to be comparable to similar measures presented by other companies. When used, these measures are defined in such terms as to allow the reconciliation to the closest IFRS measure. These measures are provided as additional information to complement those IFRS measures by providing further understanding of the Company’s results of operations from management’s perspective. Accordingly, they should not be considered in isolation nor as a substitute to the Company’s financial information reported under IFRS. Management uses non‐IFRS measures such as Adjusted EBITDA to provide investors with supplemental information of the Company’s operating performance and thus highlight trends in the Company’s core business that may not otherwise be apparent when relying solely on IFRS financial measures. Management believes that securities analysts, investors and other interested parties frequently use non‐IFRS measures in the evaluation of issuers. Management also uses non‐IFRS measures in order to facilitate operating performance comparisons from period to period, prepare annual operating budgets, to assess its ability to meet future debt service requirements, in making capital expenditures, and to consider the business’s working capital requirements. Readers are cautioned that the non‐IFRS measures contained herein may not be appropriate for any other purpose.
This press release includes forward-looking information within the meaning of Canadian securities laws regarding Flowr and its business, which may include, but are not limited to: statements with respect to Holigen, including the closing of the acquisition, facilities Holigen is proposing to complete, the products it proposes to produce and sell, and the markets it proposes to operate and distribute its products in, Holigen potentially being among the lowest cost producers in the world, Flowr intending to use the Flowr Forest for greenhouse and outdoor production of cannabis and extraction of such other form factors, the Company initiating its licensing process with Health Canada and obtaining its license for Flowr Forest, the Company planning to begin construction and growing the Flowr Forest in 2019 and beyond, the products cultivated from the Flowr Forest being used for extraction in developing edibles and concentrates, the number of greenhouses, size of greenhouses, and size of the outdoor grow at the Flowr Forest, the Company intending to develop Kelowna 2, the planned size of Kelowna 2 and the number of grow rooms expected in Kelowna 2, Flowr only getting started with its planned operations and strategic direction, Flowr’s design and cultivation expertise and superior IP know-how enabling it to grow high quality cannabis on a large scale at industry leading yields, Flowr’s operational efficiency improving with the completion of the Kelowna 1 facility, Flowr having 20 grow rooms fully constructed in the third quarter of 2019, the completion of the Kelowna 1 facility enabling Flowr to begin to capitalize on strategic growth opportunities, the number of kilograms of capacity on an annualized basis, Flowr beginning to sell a wide selection of cannabis cultivars in both seed and clone form in the timeframe disclosed herein, the Company’s cultivation process allowing it to produce high quality clones, the number of clones that Flowr expects to produce on an annualized basis upon completion of the Kelowna 1 facility, the clones being incremental to the Company’s cultivation process and in excess of what it needs for its retail and medical production, the completion and timing of completion of the Kelowna 1 facility, the additional grow rooms that will become available upon completion of the Kelowna 1 facility, the listing of the Company’s common shares on the NASDAQ, the timing thereof and trading of the common shares being approved for listing, Chef Reed developing signature edible cannabis products and high quality edibles that are expected to address the needs of a premium client, the timing of the availability of edible products, Mr. Broome developing high quality products and leading Flowr’s research into cultivars, form factors and delivery systems for the global markets, Flowr being well positioned to complete its facilities build-out and ramp-up production in 2019 and capitalize on its strategic growth opportunities globally, Flowr’s investment in research and development along with its sense of craftsmanship and a spirit of innovation enabling it to provide premium-quality cannabis that appeal to the adult-use recreational market and address specific patient needs in the medicinal market and other factors. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “is expected”, “expects”, “scheduled”, “intends”, “contemplates”, “anticipates”, “believes”, “proposes” or variations (including negative and grammatical variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Such statements are based on the current expectations of Flowr’s management and are based on assumptions and subject to risks and uncertainties. Although Flowr’s management believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this press release may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting Flowr, including, but not limited to, Flowr being delayed in closing the acquisition of Holigen or such acquisition not being completed, Holigen being unable to complete construction of its proposed facilities or being unable to get the required licenses to operate such facilities, Holigen not being able to produce and/or sell the products described herein or in the markets it proposes to sell such products, Holigen not being among the lowest cost producers in the world, resulting in decreased margins, higher costs and additional financing requirements, the inability of Flowr to use the Flowr Forest for greenhouse and outdoor production of cannabis and extraction of such other form factors, as result of the inability to receive required approvals and licenses, which could have a material adverse impact on Flowr’s results of operations, financial condition and business, the number of greenhouses, size of greenhouses and/or size of outdoor production being materially less than the numbers described herein, which could materially adversely impact the products to be cultivated and produced out of the Flowr Forest and the Company’s forecasts, the Company failing to initiate its licensing process with Health Canada and/or being unable to obtain its Health Canada license for the Flowr Forest, the Company being delayed in initiating its licensing process or Health Canada not approving the license for the Flowr Forest, which could have a material adverse impact on its financial condition, results of operations and business, the Company being delayed in constructing the Flowr Forest or not being able to construct or plant the Flowr Forest at all for any reason, including as a result of not receiving required approvals or due to weather conditions, which could have a material adverse impact on Flowr’s financial condition, results of operations, business, and/or ability to compete in the other form factor markets, the products cultivated from the Flowr Forest not being used or the inability to use such products for extraction in developing edibles and concentrates, any delay in the timing that edibles and concentrates are expected to be legally sold in Canada, which could materially adversely impact Flowr’s future cash-flows and forecasts, Flowr not being in a position to launch cannabis oils and vape technologies in 2019 or not launching them at all, which could have a material adverse impact on Flowr financial results, operations and financial condition, including losing competitive advantages over other licensed producers, the Company not being able to construct the Kelowna 2 facility, which would reduce Flowr’s capacity and have an impact on future financial results, Kelowna 2 being smaller and/or containing fewer grow rooms than as described herein, which could materially reduce the Company’s future planned capacity and forecasts, Flowr not being well positioned to execute on its planned operational and strategic direction, the inability of Flowr’s design and cultivation expertise and superior IP know-how enabling it to grow high quality cannabis on a large scale at industry leading yields, Flowr’s operational efficiency not improving as a result of the completion of the Kelowna 1 facility, Flowr failing to complete the 20 grow rooms or such rooms not being fully operational on the timing described herein, which could have a material adverse impact on Flowr’s business, financial condition and results of operations, the completion of the Kelowna 1 facility not allowing Flowr to begin to capitalize on strategic growth opportunities, Flowr not achieving or producing the number of kilograms of capacity on an annualized basis as set forth herein, which could have a material adverse effect on Flowr’s business, financial condition and results of operations, Flowr not being able to or being delayed in selling a wide selection of cannabis cultivars in both seed and clone form in 2019, which could have a material adverse impact on Flowr’s business, financial condition and results of operations, the Company’s cultivation process not enabling it to produce high quality clones, Flowr not being able to produce the number of clones set forth herein or at all on annualized basis upon completion of the Kelowna 1 facility, which could have a material adverse impact on Flowr’s business, financial condition and results of operations, the clones that Flowr produces not being incremental to the Company’s cultivation process and in excess of what it needs for its retail and medical production, which could have a material adverse impact on Flowr’s business, financial condition and results of operations, the Kelowna 1 facility not being completed or completed in time, the additional grow rooms that will become available upon completion of the Kelowna 1 facility not becoming available on time or at all, which could have a material adverse impact on Flowr’s business, financial condition and results of operations, the listing of the Company’s common shares on the NASDAQ not being approved or further delayed, which could impact the liquidity of the Company’s common shares or cause a significant decline in the price of the common shares, Chef Reed not being able to develop signature edible cannabis products and high quality edibles that are expected to address the needs of a premium client, any delay in the timing of the availability of edible products, which could materially adversely impact additional revenue streams for Flowr, Mr. Broome not being able to lead and develop high quality products and Flowr’s research into cultivars, form factors and delivery systems for the global markets, which could have a material impact on Flowr’s growth and share of an addressable market, the steps taken by Flowr not preparing it financially and/or operationally for the recreational use market and/or to execute on its business strategy, Flowr not completing the build out and/or ramp-up of production in 2019, which could materially adversely impact Flowr’s financial condition, results of operations and business, Flowr not being able to execute on growth strategies, including international opportunities, which could adversely impact Flowr’s growth and future prospects, Flowr not being able to sustain its competitive advantage in cultivation and being unable to remain at the forefront of industry innovation, whether as a result of failed construction of the facilities or otherwise, Flowr not being able to meet demand or fulfill purchase orders, which could materially impact revenues and its relationships with purchasers, Flowr requiring additional financing from time to time in order to continue its operations or expand domestically or globally and such financing not being available when needed or on terms and conditions acceptable to the Company, new laws or regulations adversely affecting the Company’s business and results of operations, results of operation activities and development of projects, project cost overruns or unanticipated costs and expenses, the inability of Flowr’s products to be high quality, the inability of Flowr’s products to appeal to the adult-use recreational market and address specific patient needs in the medicinal market, the inability of Flowr to produce and distribute premium, high quality products, the inability to supply products or any delay in such supply, Flowr’s securities, the inability to generate cash flows, revenues and/or stable margins, the inability to grow organically, risks associated with the geographic markets in which Flowr operates and/or distributes its products, risks associated with fluctuations in exchange rates (including, without limitation, fluctuations in currencies), risks associated with the use of Flowr’s products to treat certain conditions, the cannabis industry and the regulation thereof, the failure to comply with applicable laws, risks relating to partnership arrangements (including the Hawthorne partnership), possible failure to realize the anticipated benefits of partnership arrangements (including the Hawthorne partnership), product launches (including, without limitation, unsuccessful product launches), the inability to launch products, the failure to obtain regulatory approvals, economic factors, market conditions, risks associated with the acquisition and/or launch of products, the equity and debt markets generally, risks associated with growth and competition (including, without limitation, with respect to Flowr’s products), general economic and stock market conditions, risks and uncertainties detailed from time to time in Flowr’s filings with the Canadian Securities Administrators and many other factors beyond the control of Flowr. Although Flowr has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking information can be guaranteed. Except as required by applicable securities laws, forward-looking information speaks only as of the date on which it is made and Flowr undertakes no obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events, or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Tim Streeb, ICR
Rebecca Brown, Crowns Agency
Raphael Gross, ICR
The Flowr Corporation
1-647-483-7065 ext. 1520
Codebase Ventures Inc. (“Codebase” or the “Company”) (CSE:CODE)(FSE:C5B)(OTCQB:BKLLF) is pleased to announce that it has issued a total of 7,400,000 options pursuant to its incentive stock option plan (“Plan”) to management, employees and consultants. Each option entitles the holder to subscribe for one common share of the Company for $0.265 for a period of 5 years, subject to the terms of the Plan
The Company has also agreed to engage Aktiencheck.de AG, for €50,000 for a European marketing and news dissemination program. The length of such program depends upon the Company’s future news flow.
About Codebase Ventures Inc.
Codebase Ventures Inc. seeks early-stage investments in sectors that have significant upside. We seek innovators who are establishing tomorrow’s standards. We support those innovators and help take their ideas to market.
For further information, please contact:
George Tsafalas – Ivy Lu
Telephone: Toll-Free (877) 806-CODE (2633) or 1 (778) 806-5150
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management’s current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “predicts”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
SOURCE: Codebase Ventures Inc.
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Khiron Receives Accreditation for UK Medical Cannabis Education and Partners with UK’s Cellen Therapeutics to Improve Clinician Education
- Company has received UK Continuing Professional Development (“CPD”) accreditation for its global education platform, Khiron Academy
- UK medical professionals may now earn CPD credits through Khiron’s medical cannabis education program
- The Company has entered into a strategic partnership with Cellen Therapeutics, a leader in digital healthcare in the UK, to increase patient access via medical cannabis education
- As a leading international medical cannabis educator, nearly 1,000 medical professionals in Latin America and the United Kingdom have registered for, or completed, Khiron Academy training
Khiron Life Sciences Corp. (“Khiron” or the “Company”) (TSXV: KHRN) (OTCQX: KHRNF) ( Frankfurt : A2JMZC), a vertically integrated cannabis leader with core operations in Latin America and Europe is pleased to announce it has received UK Continuing Professional Development (“CPD”) accreditation for Khiron Academy, the Company’s global medical cannabis education platform.
Additionally, following its accreditation, the Company has entered into a strategic partnership with Cellen Therapeutics, a leader in digital healthcare in the UK and fellow founding member of Project Twenty21, to increase patient access through medical cannabis education initially. Khiron Academy will be made available to prescribers in the UK that have registered with Cellen’s MedCanHub, an emerging education portal. Cellen is market leader, widely recognized for also launching the UK’s first digital pain clinic, Leva.
Tejinder Virk , President of Khiron Europe, commented, “Over the last year, Khiron has seen a direct correlation between physician education and patient access. With Khiron Academy’s CPD accreditation and through our strategic partnership with Cellen Therapeutics, we are positioned to reach a growing number of medical professionals, and in turn, provide patients with greater access to medical cannabis products.”
Eric Bystrom , CEO of Cellen commented, “We are pleased to be joining forces with Khiron on educating prescribing specialists in the UK. Khiron is a clear global leader in medical cannabis education. We share common values in improving patient lives by educating doctors and optimizing the standard of medical care. Our aim is to create a practical guide for responsibly prescribing patients with safe and efficacious medical cannabis products.”
In the UK, Khiron continues to leverage educational materials developed by the Company to train medical professionals in Latin America , along with clinical data from thousands of Khiron patients. In addition to Cellen’s MedCanHub (accessible to medical professionals at https://medcanhub.cellenhealth.com/ ), Khiron Academy is available to members of the Medical Cannabis Clinicians Society (MCCS) and core to the training of prescribing specialists for Project Twenty21, a 20,000-patient observational study backed Drug Science in UK.
To date, the Company has trained nearly 1000 medical professionals in Latin America and the UK. Over the last year, physicians trained by Khiron in Latin America have issued over 13,000 prescriptions, with a compound monthly growth rate of nearly 50%. Khiron Academy will be a platform for sharing the Company’s clinical expertise, in conjunction with clinical data arising from Khiron’s wholly-owned clinics in LatAm.
About Khiron Life Sciences Corp.
Khiron is a vertically integrated medical and CPG cannabis company with core operations in Latin America , and operational activity in Europe and North America . Khiron is the leading medical cannabis provider in Colombia and the first company licensed in Colombia for the cultivation, production, domestic distribution and sales, and international export of both low and high THC medical cannabis products. The Company has filled medical cannabis prescriptions in Colombia , Peru , Germany and the United Kingdom , and is positioned to commence sales in Mexico , Germany and Brazil in 2021.
Leveraging wholly-owned medical clinics and proprietary telemedicine platforms, Khiron combines a patient-oriented approach, physician education programs, scientific expertise, product innovation, and agricultural infrastructure to drive prescriptions and brand loyalty. Its Wellbeing unit launched the first branded CBD skincare brand in Colombia , with Kuida TM now marketed in multiple jurisdictions in Latin America , the US and United Kingdom . The Company is led by Co-founder and Chief Executive Officer, Alvaro Torres , together with an experienced and diverse executive team and Board of Directors.
Visit Khiron online at investors.khiron.ca and on Instagram @khironlife.
This press release may contain certain “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Khiron undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of Khiron, its securities, or financial or operating results (as applicable). Although Khiron 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 Khiron’s control, including the risk factors discussed in Khiron’s Annual Information Form which is available on Khiron’s SEDAR profile at www.sedar.com . The forward-looking information contained in this press release is expressly qualified by this cautionary statement and is made as of the date hereof. Khiron 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.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
T: +1 (647) 556-5750
Europe Communications Manager
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SOURCE Khiron Life Sciences Corp.
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Khiron Life Sciences
TRACE’s plant-based and alkaline wellness products to expand into key markets of Japan, China and the Philippines
Emerging leader in innovative health and wellness beverages and consumer products, BevCanna Enterprises Inc . ( CSE:BEV , Q:BVNNF , FSE:7BC ) (“ BevCanna ” or the “ Company ”) announces today its anticipated expansion into the Asia Pacific region, through its wholly-owned subsidiary Naturo Group. After completing a comprehensive market, distribution and partner assessment, the Company intends to initially launch its portfolio of TRACE health and wellness products in the key markets of Japan, China, and the Philippines, through multi-channel distribution outlets including e-commerce, retail, and wholesale.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210413005502/en/
TRACE product family (Photo: Business Wire)
With a combined population of 1.633 billion people, or 21 percent of the world’s citizenry, the three countries signify a substantial opportunity for BevCanna. The markets’ growing and prosperous middle-class consumer base represents an ideal demographic for the TRACE products, as consumers increasingly opt for healthier lifestyle choices. The global nutraceutical market size is projected to reach US$722.49 billion by 2027, expanding at a CAGR of 8.3% over the forecast period; Asia-Pacific is expected to witness the fastest growth over the forecast period, particularly in Japan and China. 1 The Japanese market is particularly suited for the introduction of the TRACE brand, with its consumers having developed a decided preference for natural, health-conscious products. Two-thirds of Asian consumers believe in superfoods and natural health products for treating ailments 2 , representing a prime demographic for wellness-focused products.
“The Asian market is a natural fit for our TRACE line of plant-based and alkaline products,” said Melise Panetta, President of BevCanna. “We’ve been actively evaluating the market potential, while also fielding increased interest from Asian customers and partners in our TRACE plant-based mineral products and our Canadian natural alkaline spring water. Our portfolio of products will address a growing demand for nutraceuticals and wellness-focused natural products, and we’re pleased to announce our anticipated expansion into these significant markets”.
TRACE’s proprietary plant-based mineralized beverages and nutraceuticals contain fulvic and humic minerals, sourced from ancient organic compounds that are highly concentrated sources of trace minerals. Recognized benefits of the Health Canada-approved formulations include cognitive performance, gut health, immune function, and aiding the body in metabolizing carbohydrates, fats, and proteins. Mineral-enhanced water is increasingly popular in Asia for its purported benefits to human immune systems and brain health.
TRACE’s proprietary alkaline spring water is bottled at source in British Columbia’s Okanagan region. The alkaline water provides additional benefits to the consumer as compared to most tap and conventional bottled water, including the increased presence of hydroxyl ions, increased hydration, improved bone health, healthier skin and decreased gastrointestinal symptoms.
2 Natural Products Global June 27, 2017
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 anticipated expansion into the Asia Pacific region, through its wholly-owned subsidiary Naturo Group, through multi-channel distribution outlets including e-commerce, retail, and wholesale; the markets’ growing and prosperous middle-class consumer base represents an ideal demographic for the TRACE products, as consumers increasingly opt for healthier lifestyle choices; that Asian consumers represent a prime demographic for wellness-focused products; the increased interest from Asian customers and partners in the Company’s TRACE plant-based mineral products and its Canadian natural alkaline spring water; that the Company’s portfolio of products will address a growing demand for nutraceuticals and wellness-focused natural products; 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.
For media enquiries or interviews, please contact:
Wynn Theriault, Thirty Dash Communications Inc.
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Trulieve acquires dispensary permits from Solevo Wellness West Virginia LLC for $650,000
Trulieve Cannabis Corp . (CSE: TRUL) (OTCQX: TCNNF), a leading and top-performing cannabis company in the United States and the largest cannabis company in Florida announced today that it acquired Solevo Wellness West Virginia LLC (“Solevo”) and its three West Virginia dispensary permits for $650,000 . Solevo was awarded two permits in Morgantown and one in Parkersburg in January 2021 as part of the West Virginia application process.
“This acquisition enables Trulieve to broaden and solidify our position in the newly created West Virginia market. Solevo was granted three dispensaries as part of the application process entered by the Company before becoming part of the Trulieve family. Adding Solevo to our production and dispensary permits, as well as our recently announced definitive agreement to acquire Mountaineer Holdings and its cultivation and dispensary permits, will create a fully vertical presence in the state with nine dispensaries,” said Kim Rivers , CEO of Trulieve. “We look forward to providing the highest level of cannabis products and customer experience through authentic and reciprocal relationships to West Virginia patients.”
Trulieve acquired Solevo and its three dispensary permits for an upfront payment of $150,000 in cash, and $500,000 in Trulieve subordinate voting shares (“Trulieve Shares”). Stock price is based on 10-day VWAP from the last trading day before signing. The transaction is contingent upon West Virginia state regulatory approval and customary closing conditions.
Advisors and Counsel
Fox Rothschild LLP is acting as legal counsel to Trulieve.
Trulieve is a vertically integrated “seed-to-sale” company 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 operates in California , Massachusetts , Connecticut and Pennsylvania . Trulieve is listed on the Canadian Securities Exchange under the symbol TRUL and trades on the OTCQX Best Market under the symbol TCNNF.
This press release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or the securities laws of any state of the United States and may not be offered or sold within the United States (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
To learn more about Trulieve, visit www.Trulieve.com .
The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.
This news release includes forward-looking information and statements, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company and statements with regard to the Report and the Company’s response thereto. Words such as “expects”, “continue”, “will”, “anticipates” and “intends” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on the Company’s current projections and expectations about future events and financial trends that management believes might affect its financial condition, results of operations, business strategy and financial needs, and on certain assumptions and analysis made by the Company in light of the experience and perception of historical trends, current conditions and expected future developments and other factors management believes are appropriate. Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein. Although the Company believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Any forward-looking information and statements herein are made as of the date hereof, and except as required by applicable laws, the Company assumes no obligation and disclaims any intention to update or revise any forward-looking information and statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward looking information and statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws.
SOURCE Trulieve Cannabis Corp.
View original content: http://www.newswire.ca/en/releases/archive/April2021/13/c3491.html
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Better Plant Sciences Inc. (CSE: PLNT) (OTCQB: VEGGF) (FSE: YG3) (“Better Plant”) or (the “Company”) a wellness company that develops and sells sustainable, plant-based products, is pleased to announce that it’s Jusu Home and Body line is now available for purchase on Faire Wholesale Marketplace (“Faire” or “www.faire.com”), an online wholesale marketplace valued at US $2.5 billion. Jusu Home and Body products are currently featured in their “New Arrivals” section.
Better Plant Announces Agreement with Faire Wholesale Marketplace For Jusu Home and Body Products
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Growing by 200% year over year, Faire currently serves over 170,000 independent retailers across North America, representing more retail locations than Marks & Spencer, Boots, Aldi, Starbucks, and Tesco combined. The platform has also recently launched in the United Kingdom and the Netherlands, with other European markets to follow in the coming months. “This partnership with Faire gives boutique retailers access to Jusu Home and Body products on a global scale and will showcase to retailers that are outside of our typical demographic”, says Amber Allen, Head of Sales for Better Plant. “We look forward to promoting Jusu products on this platform and connecting with many diverse buyers.”
Faire provides a holistic, end-to-end platform that enables independent retailers to build, grow, and run their businesses. Leveraging the Faire platform benefits retailers with perks such as payment flexibility and security, free returns, shipping solutions and data-driven recommendations.
According to a report by Globe Newswire, the global market for natural and organic personal care products is projected to reach a revised size of US $23.6 billion by 2027, growing at a CAGR of 9.3% over the analysis period 2020-2027.
Faire is a curated wholesale marketplace connecting more than 40,000 local retailers with thousands of emerging and established brands. Faire enables independent retailers to grow their business with the advantages of big box terms and empowers makers to seamlessly build and run their wholesale business. Faire was founded in 2017 and is powered by the idea that the future is local. Faire is backed by investors including Y Combinator, Lightspeed Venture Partners, Forerunner Ventures, Khosla Ventures, Sequoia Capital, Founders Fund, and DST Global. The company is headquartered in San Francisco, Kitchener-Waterloo, and Salt Lake City. To learn more, visit www.Faire.com.
About Better Plant:
Better Plant harnesses plant intelligence and leverages modern science to offer sustainable, plant-based products that are better for health and better for the earth. It makes and sells over 90 proprietary products, all made with 100% natural ingredients, under the brands Jusu, Urban Juve and Wright & Well. It has a direct-to-consumer platform for refrigerated goods that offers easy online ordering and convenient home delivery in select cities in Alberta and BC. Better Plant operates Jusu Bar, a quick serve restaurant alternative in Victoria, BC, which serves up fresh, healthy, and nutritious options with a focus on Jusu cold-pressed juices. Jusubar.com offers home delivery of refrigerated plant-based beverages consisting of cold-pressed juices and packaged juice cleanses. Through its Shopify enabled eCommerce sites getjusu.com and urbanjuve.com, Better Plant sells plant-based personal care products, including skin care, hair care, body care and baby care. Jusu also has a line of plant-based all-natural home cleaning products that are sold to cleaning companies, retailers and sold directly to consumers. Better Plant also offers operational, financial, and other services to companies with businesses that align with Better Plant’s mission to help create a better world. Better Plant incubated NeonMind, which sells medicinal mushroom infused coffees and is developing drugs with psychedelic ingredients to treat obesity and to suppress appetite. Better Plant owns approximately 27% of NeonMind, which trades separately as a public company under the tickers (CSE: NEON) and (OTCQB: NMDBF).
Penny White, President & CEO
Amber Allen, Head of Sales
The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this news release.
Cautionary Statement Regarding Forward-Looking Statements
This press release includes forward-looking information and statements (collectively, “forward looking statements”) under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates, forecasts, beliefs and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such risks, uncertainties and factors include, but are not limited to: risks related to the development, testing, licensing, brand development, availability of packaging, intellectual property protection, reduced global commerce and reduced access to raw materials and other supplies due to the spread of COVID-19, the potential for not acquiring any rights as a result of the patent application and any products making use of the intellectual property may be ineffective or the company may be unsuccessful in commercializing them; and other approvals will be required before commercial exploitation of the intellectual property can happen. Demand for the company’s products, general business, economic, competitive, political and social uncertainties, delay or failure to receive board or regulatory approvals where applicable, and the state of the capital markets. Better Plant cautions readers not to place undue reliance on forward-looking statements provided by Better Plant, as such forward-looking statements are not a guarantee of future results or performance and actual results may differ materially. The forward-looking statements contained in this press release are made as of the date of this press release, and Better Plant expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/80230
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