Hempsana Receives Amended Sales License Allowing Sale of Cannabis 2.0 Products

- September 23rd, 2021

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES. Hempsana Holdings Ltd. is excited to announce that the Company has received approval from Health Canada to amend their cannabis licence to authorize the activity of sale of cannabis extracts, beverages, edibles, and topical products. The …

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

Hempsana Holdings Ltd. (the “ Company ” or “ Hempsana ”) is excited to announce that the Company has received approval from Health Canada to amend their cannabis licence to authorize the activity of sale of cannabis extracts, beverages, edibles, and topical products. The amended licence will allow Hempsana to supply and sell finished cannabis products directly to provincial distributors and other authorized Canadian retail supply channels.

Randy Ko, co-founder and CEO of Hempsana says, “The ability to sell Cannabis 2.0 products into the Canadian marketplace through our Cannabis Sales Licence is a significant milestone as it expands our revenue stream beyond delivering high quality API grade cannabis derivatives to our B2B customers. It also provides us with a unique opportunity to take advantage of our rare cannabinoid production capabilities as we look to incorporate cannabinoids such as CBN and CBG into specialized API quality products that consumers will be able to enjoy.”

About Hempsana Holdings Ltd.

The Company’s business involves the manufacturing of cannabis derivatives and producing cannabis extracts for use in finished products including extracts, beverages, edibles, and topical creams. Hempsana’s Health Canada Standard Processing Licensed, and EU-GMP compliant facility provides the Company with access to wholesale and retail channels in Canada and internationally.

READER ADVISORY

The securities set forth herein have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements and forward-looking information within the meaning of applicable Canadian and U.S. securities laws. The use of any of the words “expect,” “anticipate,” “continue,” “estimate,” “objective,” “ongoing,” “may,” “will,” “project,” “should,” “believe,” “plans,” “intends” and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this press release contains forward looking statements and information concerning the business and operations of the Company. The forward-looking statements and information are based on certain key expectations and assumptions made by management, including expectations and assumptions concerning the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information. There can be no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to, general economic conditions and the state of the regulatory environment. Please refer to the Company’s public record on SEDAR at www.sedar.com for more details on the risks faced by the Company. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward- looking information for anything other than its intended purpose. Management of the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

Randy Ko
Director and Chief Executive Officer
T: (647) 255-8849
E: randy@hempsana.ca

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