Weekend Unlimited (CSE:POT, FSE:0OS1) President & CEO, Paul Chu has issued this important update to shareholders as the Company solidifies its cross border, multi state operations (MSO) and launches its portfolio of lifestyle brands.
Dear Weekend Unlimited Shareholder:
2019’s momentum continues to accelerate for our company, we have solidified pillars of our brand portfolio including Canna Candys, Verve Beverage Company, the alliance in Washington State with Boggy Boon and Orchard Heights and our interest in Northern Lights Supply in Alberta, which just received its retail license to operate.
On February 1st we announced that Weekend Unlimited had won the iconic POT symbol lottery held by the Canadian stock exchanges. This lottery captured global attention, with coverage that spanned media entities including Forbes, Yahoo Finance, MarketWatch, The Globe and Mail, VICE Media, Financial Post, CTV, CBC, BNN Bloomberg, The Toronto Star along with extensive coverage within cannabis publications and networks. It has also generated exploratory partnership discussions with multiple entities.
The Canadian Securities Exchange, and Canada overall, have been beneficiaries of the attention – in addition to our Company – as it has served to highlight Canada’s leadership position in cannabis legalization. We have been honored to have the opportunity to share our story so widely as a result, and to play a role in the growth of this burgeoning industry.
In the six weeks since becoming President and CEO, we have established a focused vision and are growing a team that is focused on an aggressive operational buildout. Allow me to share some highlights from that work:
- Weekend is a fast growing, multi-state operator committed to both wellness and recreational cannabis applications, and focused on developing lifestyle brands and experiences to define the future of the cannabis industry
- Our disciplined growth strategy centers upon defined CBD and THC business lines with a focus on brands that align with lifestyles for expansive retail distribution with CBD, and premium distribution in adult-use-legal markets.
- Weekend will launch and scale its own consumer packaged brands for CBD in states and international markets
- The Company is adding to its CPG experienced management team
With international interests in Canada and pending in Jamaica, Weekend will have a primary focus as a cross-border brand aggregator, bringing brands to market with CBD products and deploying the best practices of the consumer-packaged goods industry. We have a vertically integrated base of operations in California, the largest legal recreational cannabis market in the United States (CNBC), which will be leveraged to grow throughout the US. Here are some key points for your consideration:
- CBD provides the most lucrative opportunity to establish brand leadership for current and future expansion and sales
- CBD will pave the way for our brands in the THC space for future recreational legal markets
- Strong existing brand portfolio to accelerate distribution targeted to lifestyle applications
- In California we have vertical integration – extraction, production, distribution and ownership – with High Desert Group in Adelanto
- LIVE experiences to penetrate markets, facilitate adoption with tastemakers, and create demand
- NHL San Jose Sharks sponsorship – CHAMP athletic demographic to be scaled with an expanding line and spokespeople
- Overall, we are harnessing entrepreneurial talent and combining it with consumer-packaged goods best practices
Our position has only been strengthened with the recent support for the cannabis industry in the US, noting that new US Attorney General, William Barr has made a written pledge not to go after marijuana companies complying with state laws. As a multi state operator, this, combined with the Farm Bill passage has opened up opportunities in the US, the central focus of our business.
In Washington, the Orchard Heights – Boggy Boon alliance is already shipping product to retail stores, Canna Candys shipments will begin in February and Verve Beverage Company will be shipping in March. A new SKU for Canna Gummies has been added to our product line, gummies are the top selling candy format, and we have pending distribution deals close to completion for high volume retail placement.
We have implemented a centralized service capability to reduce costs and streamline effectiveness from production through to sales and service. As we advance on these priorities, we will be able to share details and results with shareholders. In addition, we are in the final stages of moving our head office in New York City.
This quarter will mark a tremendous period in the history of our Company as we launch our key brands into the marketplace and seize on the awareness that has resulted from the iconic POT symbol lottery – becoming a part of our story and the story of recreational cannabis legalization, forever.
To conclude, here is our renewed statement of purpose:
Weekend Unlimited exists to serve people’s desires for wellness and happiness by harnessing the properties of the cannabis plant by developing amazing products and experiences that enhance lifestyle choices.
Delivering Life’s Highs, Anytime, Anywhere!
President and CEO
For further information, please contact:
Mr. Paul Chu, President and CEO
Telephone: 1 (236) 317-2812 – Toll free 1(888) 556-9656
About Weekend Unlimited Inc.
Weekend Unlimited is capitalizing on its vast industry relationships to establish a lifestyle brand featuring premium products and delivering life’s highest moments. The company aggregates and scales small to medium brands, primarily in the categories of flower, extracts and edibles. Weekend Unlimited brands have best of class operations, distribution and strong revenue trajectories, making them ideal candidates for the deployment of capital and expertise through access to technologies, infrastructure and centralized systems. Learn more at www.weekendunlimited.com
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.
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