Sugarbud receives license to sell Cannabis 2.0 from Health
Calgary, ALBERTA, Sep 29, 2021 (GLOBE NEWSWIRE) – Sugarbud Craft Growers Corp. (TSXV: SUGR, SUGR.DB, SUGR.WR, SUGR.WS, SUGR.WT) (OTCQB: SBUDF) (“Sugarbud “or the” Company“) is pleased to announce that it has received Health Canada approval for its amended license (the”Licence“) enabling the sale of cannabis extracts, edibles and topicals (“Cannabis License 2.0“). Sugarbud is now able to sell its expanded portfolio of exceptional Artisanal Cannabis 2.0 products directly to all authorized provincial and territorial distributors / retailers as well as to nationally registered medical patients.
âToday’s announcement represents another critical step and an important catalyst for future growth as we continue to develop and advance our business operations and create overall value for the company’s shareholders,â said said Sugarbud CEO John Kondrosky. âReceipt of our Cannabis 2.0 license was the last remaining regulatory step required to effectively market and sell our entire portfolio of artisanal cannabis products directly nationally,â continued Mr. Kondrosky.
The Company estimates that less than 20% of all active federally approved licensees are licensed to sell Cannabis 2.0 products to authorized provincial and territorial distributors / retailers as well as registered medical patients.
âReceipt of our Cannabis 2.0 Sales License is important and is the result of a successful full review process. It’s a testament to our day-to-day operational readiness and unwavering commitment to compliance as well as the dedication to high quality products and customer satisfaction that our employees continue to demonstrate every day, âconcluded Mr. Kondrosky.
The company plans to launch its first Cannabis 2.0 products directly in the fourth quarter of 2021.
“Handcrafted Cannabis for a New Era”
Sugarbud is a consumer-focused, Alberta-based artisanal cannabis company focused on the cultivation and production of premium quality artisanal cannabis products in selected batches. Our vision and mission is to become a trusted and respected consumer brand renowned for delivering exceptional, high-quality artisanal cannabis products to legal markets, delighting the most discerning cannabis consumers.
The Sugarbud Craft Cannabis Collection offers consumers “Handcrafted Cannabis for a New Era”. The company is proudly Albertan and prides itself on sharing Western Canada’s long tradition of exceptional artisanal cannabis with discerning enthusiasts. Sugarbud strives to define the intersection of craftsmanship, quality and product value to consumers in the Canadian craft cannabis space.
Sugarbud Craft Cannabis products are currently available to adult recreational consumers in the Yukon Territory, British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec and nationally to patients. registered medical professionals through CannMart.com.
We are proud, we take our time â¦â¦â¦. Live the difference
Forward-looking statements and cautions
This press release contains forward-looking statements. Specifically, and without limitation, this press release contains statements regarding: Sugarbud’s assessment of future plans, operations and cultivation and transformation of cannabis, including sales, marketing and distribution opportunities; the quality of the products; the development, production, sale and distribution of Sugarbud’s Craft Cannabis collection, including new product lines and their features; future growth; and customer satisfaction. When used in this document, the words “will”, “anticipate”, “believe”, “estimate”, “expect”, “intention”, “can”, “plan”, “should” , and similar expressions are intended to be part of statements that identify forward-looking statements. Forward-looking statements are based on the expectations and assumptions made by Sugarbud. Forward-looking statements are subject to a wide range of risks and uncertainties, and while Sugarbud believes the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be achieved. A number of important factors could cause actual results to differ materially from forward-looking statements, including, but not limited to: currently contemplated expansion and development plans may cease or change; cannabis production may be lower than expected; the ability to ship cannabis products may be lower than expected; demand for Sugarbud’s products may be lower than expected; the results of production and sales activities; results of scientific research; changes in prices and costs of inputs; demand for labor; demand for products; failure by counterparties to fulfill contractual obligations; failure to maintain consumer brand recognition and customer loyalty; dependence on relationships with wholesalers and retailers for product distribution and inability to maintain strategic business relationships; intense competition, including from illicit sources; the uncertainty and continuous evolution of the markets; product liability litigation; use of information technology; infringement of intellectual property; not benefit from partnerships; sensitivity of end customers to increasing sales taxes and economic conditions; failure to comply with certain regulations; the departure of key management personnel or the inability to attract and retain talent; actions and initiatives of the federal and provincial governments and changes in government actions, initiatives and policies, as well as their execution and impact; the ability to implement business strategies; the state of national capital markets; the ability to obtain financing; changes in general market conditions; industry conditions and events; the size of the medical marijuana market and the recreational marijuana market; government regulations, including future legislative and regulatory developments regarding medical and recreational marijuana; construction delays; risks inherent in agricultural activity, such as insects, plant diseases and similar agricultural risks which can have a significant impact on the size and quality of the harvest of cannabis crops; competition from other industry participants; and other factors more fully described from time to time in reports and documents filed by Sugarbud with securities regulatory authorities. Further, the Company cautions that the current global uncertainty regarding the spread of the COVID-19 virus and its effects on the wider global economy could continue to have a significant negative effect on the Company. While the precise impact of the COVID-19 virus on Society remains unknown, the rapid spread of the COVID-19 virus may continue to have a significant adverse effect on global economic activity and may result in volatility and channel disruption. global supply, operations, people mobility and financial markets, which could affect interest rates, credit ratings, credit risk, inflation, business, financial conditions, results operating and other factors relevant to the Company. Please refer to Sugarbud’s most recent Annual Information Form as well as management’s discussion and analysis for additional risk factors related to Sugarbud, which can be viewed under Sugarbud’s profile at www.sedar. com. Except as required by applicable law, Sugarbud assumes no obligation to publicly update or revise any forward-looking statements.
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