During the past trading week (August 13 to 17), the US alcohol producer behind Corona beer announced it will be increasing its stake in a Canadian cannabis producer, further legitimizing the growth of the industry.
A report on the market and reactions following the decision by Ontario to open the recreational cannabis retail market to private companies complete this cannabis weekly round-up.
The decision by Constellation Brands (NYSE:STZ) on Wednesday (August 15) to increase its stake in Canadian licensed producer (LP) Canopy Growth (TSX:WEED,NYSE:CGC) sent the cannabis public markets off to the races thanks to another vote of confidence from an established market.
The alcohol company will invest C$5 billion in Canopy and obtain 104.5 million shares, effectively gaining a 38-percent stake. The two will continue to work on the development of infused cannabis beverages and the actual capital will be used by Canopy to fund its international expansion.
Charles Taerk, president and CEO of Faircourt Asset Management, told INN this move was a much-needed “shot in the arm to remind [investors] that it’s not just about the short term.”
He added, “it legitimizes the Canadian businesses and it legitimizes global recreational and medical opportunities, and then you ask the question ‘ok who’s next?’ … that is really a list of companies that we feel are well positioned, have capacity and don’t have a dance partner, so it’s potential.”
Ontario gives green light to private cannabis retail
After weeks of speculation, Ontario’s newly elected Progressive Conservative government announced it will privatize the retail cannabis market set to open following the legalization of adult-use cannabis on October 17. However, actual retail shops will not open in the province until the spring next year.
Between legalization and next spring, consumers will only be allowed to buy legal pot for recreational use through an online system — a move that will lead to the continued use of the black market in Ontario, according to several experts and observers of the industry.
“Ontario will begin to consult on a number of rules all retailers will be mandated to follow including set hours of operation and staff training,” the province said.
This process will include conversations with Ontario municipalities, indigenous communities, law enforcement, public health advocates, businesses and consumer groups and provincial representatives.
Nearly the entire Canadian cannabis stock market took a hit in reaction to the Ontario delay on Tuesday (August 14). Taerk said at the time that the short-term moment of weakness could offer investors a chance to “add to certain positions.”
Show notes from MJBizCon INT’L
The Investing News Network (INN) covered three days of action at MJBizCon INT’L in Toronto. Talks covered valuations, risks investing in the cannabis space, new markets and general advice for investors.
On Tuesday, attendees got a crash course on the finer details of cannabis investing. Canopy Ventures Managing Director Micah Tapman told INN that investors need to be aware of the baseline risk involved with the space and how different the risk is compared to other investments.
Jason Zandberg, cannabis equity analyst for PI Financial, said during a presentation at the show that he is expecting the market to change rapidly with specialization entering the picture in the Canadian landscape. The analyst also expressed bullish sentiment for the growing retail side of the business. “If we do see this overcapacity situation, we believe retailers will be in great position to capitalize on the lower price,” he said.
Jennifer Sanders, CEO of equity firm CNS Equity Partners, spoke at MJBizCon INT’L on the challenges companies are facing when attempting to move brands or products into foreign markets. Sanders told INN capitalization plays a massive role in the expansion she described.
“If someone does not have or they don’t have access to someone who has that international advisory, international council auditing, tax … there’s really no way that they are going to be able to navigate properly, it’s extremely expensive to bring these people on,” Sanders told INN.
Following Ontario’s decision, a variety of cannabis companies unveiled strategies to make a run at getting retail licenses in the province. One is Second Cup (TSX:SCU), which has a partnership with National Access Cannabis (TSXV:META). On Thursday (August 16), the duo unveiled a plan to apply for a retail license and potentially revamp existing Second Cup locations in Ontario to become Meta Cannabis Supply-branded shops.
“Second Cup has exceptional quality real estate in locations throughout Ontario and we plan to leverage this to provide safe and responsible access to legal cannabis,” Mark Goliger, CEO of National Access Cannabis, said in the release.
Due to the decline and rapid rush following both the Ontario and Constellation Brands announcements, most of the cannabis public sector was turbulent this past trading week. CannTrust Holdings (TSX:TRST) managed to find some stability and gains boosted by its second-quarter results for 2018. The Canadian LP reported a 99-percent rise in its revenue during the quarter.
Following the opening of its 450,000-square-foot Niagara Perpetual Harvest Facility, the company has already started work on the 600,000-square-foot expansion. CannTrust expects the finalized version of its facility to produce 100,000 kilograms of cannabis per year.
Aurora Cannabis (TSX:ACB) is another producer that has started unveiling its retail strategy through a partnership with alcohol retailer Alcanna (TSX:CLIQ). The partnership announced an evaluation is underway for over 100 locations in Ontario to set up Aurora-branded shops.
Don’t forget to look for our coverage of MJBizCon INT’L, with show notes from the floor and exclusive interviews on INN. You can also follow us @INN_Cannabis for real-time news updates!
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
** This article is updated each week. Please scroll to the top for the most recent information**
Cannabis Weekly Round-Up: Aurora Makes Retail Play in Alberta
By Bryan Mc Govern, August 10, 2018
During the past trading week (August 6 to 10), one of the biggest Canadian licensed producers (LP) announced its entry into the retail space in Alberta.
A new market report highlighting the shortfalls of the legal recreational cannabis market in California and market updates complete this Cannabis Weekly Round-Up.
The Investing News Network (INN) reported on Aurora Cannabis’ (TSX:ACB) planned retail presence in Alberta through its partnership with Alcanna (TSX:CLIQ), an alcohol retailer. The two companies will work on the development of 37 cannabis shops in the province following the legalization of adult-use cannabis in Canada on October 17.
The shops will be branded under the Aurora name and will carry products from the LP and its recent acquisitions, CanniMed Therapeutics and MedReleaf. Aurora has obtained a supply contract with Alberta worth 25,000 kilograms of product during the first six months of sales in the western market.
Alcanna will manage and operate the chain of retail shops, and announced that outside of Alberta it plans to enter each Canadian market as it is allowed.
Alberta Gaming, Liquor and Cannabis (AGLC) says Aurora is allowed to carry Aurora-branded cannabis exclusively; however, the producer is not allowed to buy back all of its supply from the province.
“Any [licensed producers] that become affiliated or have stores that want to carry their products exclusively they can, but they can’t be in the position that they are going to purchase all the product outright,” Heather Holmen, spokesperson for AGLC, told INN.
Eaze, a cannabis delivery company in California, issued a report on the challenges the adult-use market in the state still faces due to the continued presence of illicit options for consumers. The report indicates that one in five Californians polled have bought a black market product in the past three months, despite general satisfaction with legal venues.
The biggest criticisms identified for legal adult-use cannabis shopping were a lack of electronic payments and taxes raising prices above the desired purchasing point.
“Simply stated, California has done a great job of telling consumers that cannabis is legal but has a long way to go in making it easy to get safe, legal and affordable cannabis,” the Eaze report says.
Canadian producer acquires rights for patented drug delivery method
The system operates involves applying a lotion that carries a combination of Tetrahydrocannabinol (THC), cannabidiol (CBD) and tetrahydrocannabinolic acid (THCA) through the skin in a way that keeps them concentrated and treats pain better than smoking cannabis.
David Sutton, president and chief operating officer of NanoSphere, told INN this partnership is key to getting the product approved by Health Canada. Delta 9 holds a strong relationship with the agency having gone through the inspections needed to become an LP.
“The lack of a standardized delivery system has been the single greatest impediment for doctors who would otherwise prescribe cannabis for various medical conditions,” said John Arbuthnot, CEO of Delta 9.
Since the partnership was unveiled on July 31, Delta 9’s share price had risen 7.44 percent as of the closing bell on Thursday (August 9). After enjoying an initial rise, NanoSphere’s share price has declined since the agreement, with the cannabis producer down 11.9 percent and reaching a closing price of C$0.37 on Thursday.
Tetra Bio-Pharma (TSXV:TBP), a cannabis company working on the development of its PPP001 drug, announced it has obtained approval for a trial to challenge the effectiveness of opioid drugs compared to its candidate. Health Canada agreed on Thursday to the terms for a new study comparing PPP001 in the management of breakthrough cancer pain.
“We’ve taken a pharmaceutical pathway of drug development involving collaborative dialogue with Health Canada and the FDA to bring cannabis and cannabinoid products to market so that physicians, who have been hesitant to recommend it, will have a new, trusted therapeutic option for their patients,” said Guy Chamberland, interim CEO and chief scientific officer.
Following this announcement, Tetra Bio-Pharma dropped 20.21 percent from its previous close of C$0.94 a day before to C$0.75, representing a C$0.19 loss for shareholders.
Cannabis operator Liberty Health Sciences (CSE:LHS) announced on Tuesday (August 7) that it will be increasing its production capacity for the Florida market thanks to the start of production at its 360 Campus facility in Gainesville.
As part of the expansion, Liberty Health will also set up five new medical centers across the state. All of its delivery hub services will have a turnaround of 24 hours or less across the state.
Don’t forget to follow us @INN_Cannabis for real-time news updates!
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco Labs” or the “Company”), a vertically integrated multistate operator and the number one U.S. wholesaler of branded cannabis products and Bluma Wellness Inc. (“Bluma Wellness”), a vertically integrated operator in Florida, today announced the closing of the Company’s previously announced acquisition of Bluma Wellness.
– Cresco Labs now has meaningful operations in 10 states.
– The Company’s footprint includes all 7 of the top-10 most populated states in the country with cannabis programs.
– Florida, with more than 525,000 1 medical cannabis patients and a state population greater than 21 million people, represents one of the largest absolute growth opportunities among cannabis markets.
– Bluma Wellness’ competitive advantages in Florida include one of the state’s only cultivation facilities producing ultra-premium quality flower as well as a differentiated retail model including strategic, high-volume storefronts and an omnichannel sales platform.
– Operations include 8 dispensaries strategically located around the state, offering same-day delivery and curbside pickup. 7 more dispensaries are currently in permitting and/or are under construction.
– 54,000ft 2 of cultivation in Indiantown is currently under expansion and will continue to deliver premium craft flower at greater scale to support additional store openings and expanded product offerings.
“The closing today represents yet another strategic acquisition in a top-5 market that is true to our strategy – building the most strategic geographic footprint and achieving material market share positions within each state. Cresco Labs and Bluma Wellness have proven track records of operational execution and together have key advantages for growth and a clear pathway to scale. We look forward to amplifying operations and executing our playbook in Florida this year and in the years to come.” said Charlie Bachtell, CEO and Co-Founder of Cresco Labs.
“We couldn’t be more excited to begin working with Cresco Labs to execute our shared vision for aggressive expansion in Florida,” said Brady Cobb, CEO of Bluma Wellness. “Cresco’s deep operational efficiency and relentless focus on quality, combined with Bluma’s best-in-state cultivation operations and innovative approach to retail, creates the perfect operating environment for our continued success in Florida.”
The acquisition was completed by way of a plan of arrangement (the “Arrangement”) under the provisions of the Business Corporations Act (British Columbia). Pursuant to the terms of the Arrangement, holders of common shares of Bluma Wellness (“Bluma Shares”) received 0.0859 subordinate voting shares of Cresco Labs (“Cresco Shares”) for each Bluma Share held. In total, Cresco Labs acquired 184,814,281 Bluma Shares, representing all of the issued and outstanding Bluma Shares, in exchange for 15,875,449 Cresco Shares.
It is anticipated that the Bluma Shares will be delisted from the Canadian Securities Exchange (“CSE”) as of the close of trading on April 14, 2021, and Bluma intends to submit an application to the applicable securities regulators to cease to be a reporting issuer and to terminate its public reporting obligations.
Pursuant to the letter of transmittal mailed to shareholders of Bluma Wellness as part of the materials in connection with the special meeting of Bluma Wellness shareholders held on March 19, 2021, in order to receive the portion of the Cresco Shares to which they are entitled, registered holders of Bluma Shares are required to deposit their share certificate(s) or DRS statements representing their Bluma Shares, together with a duly completed letter of transmittal, with Odyssey Trust Company, the depositary under the Arrangement. Shareholders whose Bluma Shares are registered in the name of a broker, dealer, bank, trust company or other nominee must contact their nominee to deposit their Bluma Shares.
About Cresco Labs Inc.
Cresco Labs is one of the largest vertically integrated multistate cannabis operators in the United States, with a mission to normalize and professionalize the cannabis industry. Employing a consumer-packaged goods (“CPG”) approach, Cresco Labs is the largest wholesaler of branded cannabis products in the U.S. Its brands are designed to meet the needs of all consumer segments and comprised of some of the most recognized and trusted national brands including Cresco, High Supply, Mindy’s Edibles, Good News, Remedi, Wonder Wellness Co. and FloraCal Farms. Sunnyside, Cresco Labs’ national dispensary brand, is a wellness-focused retailer created to build trust, education and convenience for both existing and new cannabis consumers. Recognizing that the cannabis industry is poised to become one of the leading job creators in the country, Cresco Labs operates the industry’s largest Social Equity and Educational Development initiative, SEED, which was established to ensure that all members of society have the skills, knowledge and opportunity to work and own businesses in the cannabis industry. Learn more about Cresco Labs at www.crescolabs.com .
Forward Looking Statements
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as, ‘may,’ ‘will,’ ‘should,’ ‘could,’ ‘would,’ ‘expects,’ ‘plans,’ ‘anticipates,’ ‘believes,’ ‘estimates,’ ‘projects,’ ‘predicts,’ ‘potential’ or ‘continue’ or the negative of those forms or other comparable terms and includes, but is not limited to, statements relating to the expected timing by which Bluma Wellness will be de-listed from the CSE and the intention to apply to have Bluma Wellness cease to be a reporting issuer and terminate its public reporting obligations. The Company’s forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to those risks discussed under “Risk Factors” in the Company’s Annual Information Form for the year ended December 31, 2020 dated March 26, 2021, and other documents filed by the Company with Canadian securities regulatory authorities; and other factors, many of which are beyond the control of the Company. Readers are cautioned that the foregoing list of factors is not exhaustive. Because of these uncertainties, you should not place undue reliance on the Company’s forward-looking statements. No assurances are given as to the future trading price or trading volumes of Cresco Labs’ shares, nor as to the Company’s financial performance in future financial periods. The Company does not intend to update any of these factors or to publicly announce the result of any revisions to any of the Company’s forward-looking statements contained herein, whether as a result of new information, any future event or otherwise. Except as otherwise indicated, this press release speaks as of the date hereof. The distribution of this press release does not imply that there has been no change in the affairs of the Company after the date hereof or create any duty or commitment to update or supplement any information provided in this press release or otherwise.
1 Florida Office of Medical Marijuana
Jason Erkes, Cresco Labs
Chief Communications Officer
Jake Graves, Cresco Labs
Manager, Investor Relations
For general Cresco Labs inquiries:
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Construction of New Facility Under Way
TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) (“TransCanna” or the “Company”) is pleased to announce the appointment of commercial farming and construction expert, Josh Baker, to its Board of Directors today.
The appointment comes in conjunction with the Company’s first draw down of its recently secured $2M construction loan. Mr. Baker is the US-based lender’s nominee to the Board, who will provide guidance and stewardship while the loan is deployed to increase production capacity at the Company’s Daly Facility in Modesto, California.
Mr. Baker brings a wealth of relevant experience to the Board. He is a 6th generation farmer local to the Central Valley, with decades of experience building and operating commercial and residential family farms, giving him an intimate understanding of everything that goes into agricultural construction and how to optimally and efficiently grow and market crops.
As the Board Member representing the lender’s interests, Mr. Baker will monitor the construction project and confirm when each phase is complete.
Phase One, currently underway, includes the construction of a 6,000 sq ft vegetative room, and five new cultivation rooms that can produce up to 200 lbs of harvest every two weeks.
“I’m extremely excited to join TransCanna, and would not have joined if I didn’t see the tremendous potential here,” said Mr. Baker. “The $2M construction loan will help bring it to profitability, and I really see it becoming one of the greatest cannabis companies in California in the next three years.”
Bob Blink, Company CEO, said, “Everyone has hit the ground running with this new loan. As of today, we already have new construction workers at the facility, and expect to have plants in the new cultivation rooms within the next three weeks.”
The Company wishes to provide an update with respect to the previously announced Management Cease Trade Order (the “MCTO”) issued by the British Columbia Securities Commission on March 31, 2021. The MCTO was issued in connection with the delay by the Company in filing its annual financial statements, management’s discussion and analysis and related officer certifications for the financial year ended November 30, 2020 (collectively, the “Required Filings”) before the prescribed deadline of March 30, 2021. The Company continues to work closely with its auditor and expects to file the Required Filings on or before May 31, 2021.
The Company is providing this status update in accordance with National Policy 12-203 Management Cease Trade Orders (“NP 12-203”). The Company intends to follow the provisions of the Alternative Information Guidelines set out in NP 12-203, including the issuance of bi-weekly default status reports in the form of news releases. The Company confirms as of the date of this news release that there has been no material change in the information contained in the announcement issued on April 1, 2021, and there is no other material information concerning the affairs of the Company that has not been generally disclosed.
TransCanna Holdings Inc. is a California-based, Canadian-listed company building cannabis-focused brands for the California lifestyle, through its wholly-owned California subsidiaries.
TransCanna‘s wholly owned subsidiary Lyfted Farms is California’s authentic cannabis brand whose pioneering spirit has been continuously providing the finest cannabis flower genetics and cultivation methods since 1984. The Lyfted Farms brand of exclusive cannabis flower is sold at premium retailers throughout the state. With its new cultivation facility in Daly, California, the company is now poised to become one of the largest and most efficient vertically integrated cannabis companies in the California market.
On behalf of the Board of Directors
Bob Blink, CEO
Certain information in this release may contain forward-looking statements, such as statements regarding future expansions and cost savings and plans regarding production increases and financings. This information is based on current expectations and assumptions, including assumptions concerning the completion of the expansion of the Daly Facility, government approval of pro-cannabis policies, greater access to financial services and increased cultivation capacity, that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Risks that could cause results to differ from those stated in the forward-looking statements in this release include unexpected increases in operating costs, a continued strain on farmers due to fires and the Coronavirus pandemic and competition from other retailers. All forward-looking statements, including any financial outlook or future-oriented financial information, contained in this release are made as of the date of this release and are included for the purpose of providing information about management’s current expectations and plans relating to the future. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to the Company. Additional information identifying risks and uncertainties is contained in the Company’s filings with the Canadian securities regulators, which filings are available at www.sedar.com.
Neither the Canadian Securities Exchange (“CSE”) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
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– Virtual Investor Conferences and KCSA Strategic Communications today announced the agenda for the upcoming KCSA Cannabis Industry Virtual lnvestor Conference. Individual investors, institutional investors, advisors and analysts are invited to attend. The program opens at 10:15 AM ET, with the first live webcast at 10:30 AM ET, on Tuesday, April 20 th .
REGISTER NOW AT: https://bit.ly/329Ti0Y
It is recommended that investors pre-register and run the online system check to expedite participation and receive event updates. There are no fees to log-in, attend the live presentations or ask questions.
April 20 th Agenda:
IM Cannabis Corp.
(NASDAQ: IMCC | CSE: IMCC)
Aleafia Health Inc.
(OTCQX: ALEAF | TSX: AH)
Clever Leaves Holdings Inc.
(NASDAQ: CLVR, CLVRW)
(OTCQX: FFNTF | CSE: FFNT)
Fire & Flower Holdings Corp.
(OTCQX: FFLWF | TSX: FAF)
The Valens Company Inc.
(OTCQX: VLNCF | TSX: VLNS)
Slang Worldwide Inc.
(OTCQB: SLGWF | CSE: SLNG)
ManifestSeven Holdings Corp.
(Pink: MNFSF | CSE: MSVN)
Stem Holdings, Inc.
(OTCQX: STMH | CSE: STEM)
Australis Capital Inc.
(OTCQB: AUSAF | CSE: AUSA)
Experion Holdings Ltd.
(OTCQB: EXPFF | TSX-V: EXP)
Sugarbud Craft Growers Corp.
(OTCQB: SBUDF | TSX-V: SUGR)
Fiore Cannabis Ltd.
(OTCQX: FIORF | CSE: FIOR)
To facilitate investor relations scheduling, for more information about the program and to view a complete calendar of Virtual Investor Conferences, please visit
About Virtual Investor Conferences SM
Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly-traded companies to meet and present directly with investors.
A real-time solution for investor engagement, Virtual Investor Conferences is part of OTC Market Group’s suite of investor relations services specifically designed for more efficient Investor Access. Replicating the look and feel of on-site investor conferences, Virtual Investor Conferences combine leading-edge conferencing and investor communications capabilities with a comprehensive global investor audience network.
About KCSA Strategic Communications
KCSA Strategic Communications ( www.kcsa.com ) is a fully-integrated communications agency specializing in public relations, investor relations, social media and marketing with expertise in financial and professional services, technology, healthcare, cannabis, media and energy companies. Since 1969, the firm has demonstrated strategic thinking and program execution that drives results for its clients in the ever-changing communications and digital landscape. The firm’s clients are its best references.
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Launching Digital Sales Platform
Global Wellness Strategies Inc. (CSE: LOAN) (FSE: O3X4) (OTCQB: PNNRD) (formerly Redfund Capital Corp.) (“Global” or the “Company”) announces KaleidoMyco agreement with digital marketing firm The Wolf of Marketing to launch digital sales platform.
KaleidoMyco is about the creation of a strong bond with online consumers and bucking the trend of having to go to stores during the new wave of Covid 19. Building a robust digital sales platform to immediately roll out new hemp extract infused functional mushroom SKUs is the first stage of building a trailblazer in myco wellness products.
The Wolf of Marketing was founded by Adam Stamatis, a full-service marketing agency that helps companies build an online presence and drive growth and sales. Within 20+ years, The Wolf of Marketing has become the industry’s leader for building user-friendly custom websites with time-tested digital strategies that focus on customer acquisition and retention. Adam Stamatis and The Wolf of Marketing team are excited to partner with KaleidoMyco and help identify gaps, create a better web platform, and build a customized strategy that aligns with our unique business needs.
“Creating the #1 global brand of hemp extract infused myco products is foremost to KaleidoMyco. This signing represents a major collaboration for KaleidoMyco, working together closely with Adam and his team to help build the revenues of the company. The Wolf of Marketing has the experience we’ve been looking for because they worked with top-hemp companies and increased their ROI.” Stated Meris Kott, CEO, Global Wellness Strategies Inc.
KaleidoMyco is the world’s first company combining hemp extract, adaptogens and myco based ingredients to produce world-class, data-driven, science-based wellness products. It is dedicated to driving ground-breaking innovations in the production and delivery of myco derived formulations. KaleidoMyco has a team of experts who are actively working to lay the foundation in the psilocybin space as more developments in regulation become available.
Global Wellness Strategies is a prospect generator that provides high growth companies with financial, operational, and management assistance in the fast-growing market for wellness consumer products. The focus of the Company is on global wellness, hemp and CBD, healthcare-related target companies.
Further information about the Company is available on www.SEDAR.com under the Company’s profile.
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. Certain statements contained in this release may constitute “forward-looking statements” or “forward-looking information” (collectively “forward-looking information”) as those terms are used in the Private Securities Litigation Reform Act of 1995 and similar Canadian laws. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated”, “anticipates” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company, its financing and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/80391
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Health and wellness, beverage and natural products company BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC) recently announced that following the appointment of former Pepsi Co. executive, Melise Panetta to President of the organization. it has further bolstered its leadership team with veteran consumer packaged goods (“CPG”) expertise, which is anticipated to deepen and expand BevCanna’s existing sales and distribution network, and accelerate growth.
To that end, the announcement that it has added two veteran CPG (Consumer Packaged Goods) senior sales leaders to the organization is noteworthy. According to the release , Raffael Kapusty will join the company as Vice-President of Sales and Insights and Bill Niarchos will hold the role of Vice-President of Sales and Sales Operations.
Both executives have impressive resumes that dovetail nicely into BevCanna’s strategic growth and expansion trajectory. The release explains that the pair will work collaboratively to accelerate BevCanna’s transformation into a diversified beverage and natural products company with a multi-channel sales and distribution network.
Priorities will include further bolstering BevCanna’s white-label clientele and expanding its international CPG distribution network of U.S. and Canadian big box retailers.
To that end, Raffael Kapusty is an accomplished CPG industry leader with more than 25 years of experience in both the Canadian and U.S. retail spaces. Some of the big names she has worked with and for include ACNielsen Canada and over 100 leading Canadian & global CPG manufacturers. Notably, she has also held senior category and key account management roles at Kruger, SC Johnson and Unilever Canada.
Those relationships and expertise will be joined by Niarchos’ formidable CV which includes Director of Sales with Bayer Consumer Health and managing the strategic direction and growth of Loblaw & SDM. The veteran executive has held a number of progressive roles including Colgate Palmolive for more than 14 years and helped manage trade channels in various capacities, including as National Account Manager at Walmart and Costco.
The caliber of personnel and deep expertise in consumer-packaged goods is expected to add immense value that the Company believes will help make BevCanna a big name in its own right in the future.
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