Lotus Ventures Inc. (CSE:J, FRA:LV9, OTC:LTTSF) (the “Company” or “Lotus”) would like to provide an update to its shareholders and prospective investors. As the Company has continued to ramp up to full production over the past month, our operational team has successfully populated 6/6 of the production rooms with plants at various stages. Lotus has its first scheduled harvest for the end of September 2019 and will be harvesting two and a half batches per month yielding 165,000 grams once at full capacity.

Favourable Initial Health Canada Facility Inspection:


During the ramp-up period, Health Canada made an initial inspection and has confirmed that our operation is compliant under the Cannabis Act and its Regulations.

B2B Sales to Commence:

As per the definitive agreement between Lotus and Auxly Cannabis Group Inc. (“Auxly”) dated September 11, 2018, Auxly has committed to purchase 50% of the initial facility’s production at a fixed cost, which is expected to be enough to cover the Company’s production costs. The remaining 50% of production will be initially sold to either a Licence Holder with a Processing licence, or to Auxly based on wholesale prices sourced by Lotus.

Facility Expansion:

The Lotus management has taken an experienced and conservative approach when planning its future expansion. Our team’s focus is to act in the best interest of our shareholders, and the Company continues to seek non-dilutive financing, including bank debt and/or other methods. Our management team has a corporate banking background and believes it can obtain non-dilutive financing moving forward.

The expansion facility is in for building permits and will be up to an additional 30,000 square feet including an in-house processing lab. Using an automated growing technique, Lotus estimates its production to be increased by approximately 4,000,000 grams of cannabis flower per year.

Financial Projections:

Lotus designed its operation under the premise that it can grow high-quality cannabis at a low-cost due to the customization of its facility, automated production systems, and the personal care given to each individual plant by its operational team. The Company estimates its production costs to be below $1.50 per gram (once at full capacity) and has continued to keep its operating expenses low with the goal to be cash flow positive in the calendar year of 2020.

ON BEHALF OF THE BOARD
Lotus Ventures Inc.
“Dale McClanaghan”
Dale McClanaghan, President and CEO

About Lotus Ventures Inc.
Lotus Ventures Inc. (CSE: J) is an Okanagan-based licensed producer focused on growing exceptional cannabis products for the B2B and future recreational market in Canada. Lotus operates an innovative 22,500 square foot growing facility with access to unique proven strains and an entirely handcrafted production process created by one of the regions most experienced growing teams.

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.

Click here to connect with Lotus Ventures Inc (CSE:J) for an Investor Presentation.

Source: www.newswire.ca

Lexaria Bioscience Corp. (NASDAQ:LEXX)(NASDAQ:LEXXW)(CSE:LXX) (the “Company” or “Lexaria”), a global innovator in drug delivery platforms, is pleased to announce the appointment of Mr. Al Reese, Jr., to its Board of Directors

Mr. Reese has over 40 years experience in public and private businesses including as CFO of a formerly Nasdaq-listed energy company where he arranged finance transactions totaling over $10 billion dollars during his 20-year tenure. Mr. Reese was a Director and Chairman of the Audit Committee of a community bank in Texas for ten years until such time as it was acquired by a larger banking group in 2018.

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Not for Distribution to United States Newswire Services or for Dissemination in the United States

Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or the “Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced today the pricing of its previously announced best efforts overnight marketed offering (the “Offering”) of subordinate voting shares (the “Offered Securities”) of the Company at a price of C$16.00 per share for a total gross proceeds of approximately US$125 Million. The issue price represents a 3.3% discount to the last close of the Company’s subordinate voting shares traded on the Canadian Securities Exchange as of January 14, 2021. 100% of the Offering is expected to be purchased by a total of seven new and existing institutional investors, including current shareholder, Wasatch Global Investors.

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H.C. Wainwright & Co. (“Wainwright”) acted as the sole book-running manager for the Offering and is a non-related party to the Company.

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