Wildflower Brands Inc. (CSE:SUN, OTCQB:WLDFF, FWB:RSP) (the “Company”) is pleased to announce the signing of an exclusive distribution agreement for the South African market. Exclusivity was granted to Africann, a local company specializing, amongst others, in the distribution of best-of-breed North American hemp products, given its access and distribution channels in the local market.
Wildflower Brands Inc. (CSE:SUN, OTCQB:WLDFF, FWB:RSP) (the “Company”) is pleased to announce the signing of an exclusive distribution agreement for the South African market. Exclusivity was granted to Africann, a local company specializing, amongst others, in the distribution of best-of-breed North American hemp products, given its access and distribution channels in the local market. Africann currently distributes to all leading pharmacy, health and wellness chains and independent pharmacy groups in South Africa.
The Brightfield Group announced market intelligence stating the hemp CBD market will hit $22 billion in sales by 2022. A more recent study by Brightfield states that CBD products will account for 25% of all global cannabis sales. International markets are opening up to CBD-based products as regulatory bodies, such as the World Anti-Doping Agency and the United Nations’ World Health Organization, are increasingly reclassifying CBD as a safe compound that should not be prohibited.
William MacLean, CEO of Wildflower Brands, says, “More and more distributors are approaching us from all over the world to distribute Wildflower products. The consistent trend is that they are looking at the U.S. market to find CBD products to test and see what brands would fit the broadest consumer market. As global opportunities open up, Wildflower will see huge benefits from establishing itself early-on as a premium wellness brand. Expect to see Wildflower in many more newly emerging markets.”
“We are very excited to have the opportunity to bring the Wildflower range to South African consumers,” says Matthew Moodley, CEO of Africann, “Many years of research and design have gone into their products and we believe they will be well received by our market, which is eager to gain access to leading international wellness brands.”
Africann is a pan-African group focusing on the distribution of hemp and medicinal cannabis products. In addition, it holds several cultivation and manufacture licenses for medicinal cannabis in various African territories. Africann has built distribution channels to supply hemp and cannabis-based pharmaceuticals and nutraceuticals into the South African medical, pharmaceutical, pet and health & wellness markets.
Wildflower Brands is a Vancouver-based company developing and designing brands that focus on plant-based health and wellness products. All of our brands work in synergy, toward becoming a global wellness leader.
Investor Relations Contact:
Will Elston, Investor Relations
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. 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.
The forward‐looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws or the Canadian Securities Exchange. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
The Canadian Securities Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved of the contents of this press release.