Geyser Brands Inc. (TSXV:GYSR) (“Geyser Brands” or the “Company”) is pleased to announce to its shareholders that the Company’s wholly-owned Licensed Producer, 0957102 B.C. Ltd. dba Apothecary Botanicals, successfully received a coveted Standard Processing License from Health Canada.
Geyser Brands Inc. (TSXV:GYSR) (“Geyser Brands” or the “Company”) is pleased to announce to its shareholders that the Company’s wholly-owned Licensed Producer, 0957102 B.C. Ltd. dba Apothecary Botanicals, successfully received a coveted Standard Processing License from Health Canada. The Standard Processing License enables the Company to expand on its long term vision and commence manufacturing premier products including tinctures and supplements.
“This is a huge milestone for Geyser Brands and something that we have been working towards for many months. The license allows us to add value to existing consumer healthcare brands by providing them the platform to add CBD. It also reflects our business model to focus our Licensed Producer on delivering scale through manufacturing and distribution. I wish to congratulate the team at Apothecary Botanicals and Geyser for all the hard work in obtaining this license. We are moving forward full steam with our vision and there is plenty more to come in the future.”
– Andreas Thatcher, CEO
In anticipation of receiving this approval, Apothecary Botanicals had started the physical modifications to its facility located in Port Coquitlam, B.C. earlier this month, with expected completion at the end of June 2019. The modifications and processes are designed to deliver GMP-compliant capacity. With the installation of manufacturing equipment, and the completion of distribution agreements, Apothecary Botanicals will be able to service the production needs of Geyser’s existing and third-party brands.
Geyser Brands’ acquisition target, Solace Management Group Inc., owns a number of brands with leading market positions in Canada. Solace’s trusted brands include Apawthecary Pets, WildTails pet products, Apothecary Naturals and Apothecary Ink — all of which currently use hemp oil in their formulations — are distributed into leading retailers across Canada including Bosley’s and Shoppers Drug Mart. The acquisition of Solace remains subject to TSXV approval and other requirements.
With the receipt of the Standard Processing Licence and capability within its Licensed Producer, Geyser is able to extend the brands into the highly regulated cannabis market in Canada, and expects to start production within the next 90 days. It also anticipates adding manufacturing capacity for edibles, extracts, and topicals, which will allow Apothecary Botanicals to extend the wider range of products from the Apothecary group of brands to be acquired into cannabis.
The modifications for the Apothecary Botanicals facility also includes a laboratory setup that anticipates the LP receiving its R&D license shortly. The Company is also anticipating receipt of its sales license soon after that which will solidify the Company’s ability to supply customers with premier products direct.
About Geyser Brands
Geyser Brands Inc. builds health-based hemp CBD consumer products in the Nutraceutical, Cosmetics, Food & Beverage and Pet sectors world-wide. R&D investment in NanoFusion, a proprietary all-natural nanotechnology, delivers topical, cream, beverages and baked goods, oil, and tincture formulations with superior bio-availability and water-solubility.
Geyser Brands owns a Health-Canada approved Licensed Producer (“LP”) in Port Coquitlam, B.C. that holds cultivation and processing licenses and is anticipating its R & D and sales licenses. The company is exclusively focusing on leveraging these assets to provide the regulatory infrastructure for its global brands and distribution strategy, acquiring hemp- and plant-based brands and infusing them with new CBD product lines in jurisdictions where the therapeutic ingredient is legal. The company’s proprietary NanoFusion technology surrounds oils and solves for the insolubility of CBD. Geyser Brands will utilize both of its GM- licensed facilities in British Columbia for the manufacturing and distribution of its hemp and CBD-based products internationally.
For more information, visit Geyser Brands’ website at www.geyserbrands.com.
On Behalf of the Board of Directors
Director and CEO
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CAUTIONARY AND FORWARD-LOOKING STATEMENTS
This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward‐looking statements or information. Forward‐looking statements and information are often, but not always, identified by the use of words such as “appear”, “seek”, “anticipate”, “plan”, “continue”, “estimate”, “approximate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe”, “would” and similar expressions. Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward‐looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with the marijuana industry in general such as operational risks in growing; competition; incorrect assessment of the value and potential benefits of various transactions; ability to access sufficient capital from internal and external sources; failure to obtain required regulatory and other approvals and changes in legislation, including but not limited to tax laws and government regulations. In addition, the proposed acquisition of Solace Management Group Inc. remains subject to the execution of a binding definitive agreement and other conditions, including the approval of the TSX Venture Exchange. There is no assurance that the proposed acquisition of Solace will be completed as described in this news release, or at all. Accordingly, readers should not place undue reliance on the forward‐looking statements, timelines and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive.