Infused beverage expert will leverage the powerful sales platform to retail hemp-based CBD beverages and access U.S. and global markets
VANCOUVER, BC, Sept. 8, 2020 /CNW/ - Emerging leader in infused cannabis beverages, BevCanna Enterprises Inc., (CSE: BEV) (OTCQ: BVNNF) (FSE: 7BC) ("BevCanna" or the "Company") is pleased to announce that further to its news release dated September 4, 2020, available under the Company's profile at www.sedar.com, it has completed the acquisition of Naturally Pure Therapy Products Corp. ("Pure Therapy"), an arm's length private British Columbia corporation.
"We're pleased to have completed the transaction as quickly as we did" said John Campbell, Chief Strategy Officer at BevCanna. "The Pure Therapy products will be an excellent addition to our portfolio and we'll be able to leverage the powerful direct sales platform to retail our own BevCanna hemp-based CBD beverages to a large and growing customer base. We see this as an excellent entry point into the burgeoning U.S. and the worldwide market."
The closing of the acquisition occurred under the terms announced in the Company's news release dated September 4, 2020. No finder's fee was paid in connection with the acquisition. The acquisition is an arm's length transaction.
None of the securities issued on closing of the acquisition were registered under the United States Securities Act of 1933, as amended (the "1933 Act"), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.
About BevCanna Enterprises Inc.
BevCanna Enterprises Inc. (CSE: BEV, Q:BVNNF, FSE:7BC) BevCanna Enterprises Inc. develops and manufactures cannabinoid–infused beverages and consumer products for in–house brands and white label clients. With decades of experience creating, branding and distributing iconic brands that have resonated with consumers on a global scale, the team demonstrates an expertise unmatched in the emerging cannabis beverage category. Based in British Columbia, Canada, BevCanna owns a 298–acre outdoor cultivation site in the Okanagan Valley and the exclusive rights to a pristine spring water aquifer, access to a world–class 40,000–square–foot, HACCP certified manufacturing facility, with a current bottling capacity of up to 210M bottles per annum. BevCanna has also now acquired US natural health and wellness e-commerce retailer Pure Therapy Products. BevCanna's vision is to be a global leader in infused innovations.
On behalf of the Board of Directors:
Chief Financial Officer, Chief Strategy Officer and Director, BevCanna Enterprises Inc.
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company, including the statements regarding the benefits of combining the businesses of Pure Therapy and the Company. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include adverse market conditions and other factors beyond the control of the parties. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information contained in this news release.
SOURCE BevCanna Enterprises Inc.
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