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Lotus Welcomes Direct Delivery Program for BC Craft Cannabis Growers

·4 min read
Lotus Ventures, Inc.

VANCOUVER, BC / ACCESSWIRE / August 31, 2022 / Lotus Ventures Inc. (CSE:J)(OTC Pink:LTTSF) ("Lotus" or the "Company") a licensed cannabis producer, wholesaler, and the owner and operator of Lotus Cannabis Co., a premium consumer brand in Canada, is pleased to hear that the British Columbia General Employees' Union has agreed to pause its job action while working towards a tentative agreement with the Public Service Agency. This results in the continuation of centralized operations at the BC Cannabis Wholesale distribution centres. In addition to centralized wholesale operations restarting in the province, Lotus has submitted its application for the newly authorized "Direct Delivery Program" in BC for craft cannabis growers producing under 3,000 kilograms per year.

The Direct Delivery Program is an important step for premium-craft growers like Lotus, as it authorizes the Company to sell its cannabis directly to licensed retailers in BC, or to licensed processors signed up with the program, which in turn can then sell packaged production directly to licensed cannabis retail stores in the province. Despite the strike that had been in place in BC since August 15, 2022, the Direct Delivery Program provides Lotus an additional opportunity and an expedited way to diversify its sales channels, and to have its cannabis flower listed in local BC retail stores. "There are currently over 350 private retailers in BC, and we look forward to working with the ones who share our authentic values and have consistently supplied Canadians with quality cannabis through the first three years of legalization," said Lotus COO Carl Correia.

For BC retailers interested in stocking Lotus Cannabis flower, please send an email to info@lotuscannabis.ca with your store's name and the appropriate contact information. Lotus will be continuing to develop its marketing strategy as previously mentioned in its press release dated July 27, 2022.

For more information on the BCLDB Direct Delivery Program, please visit: https://www.bcldbcannabisupdates.com/LDBDirectDeliveryProgram.

ON BEHALF OF THE BOARD:

Lotus Ventures Inc.

"Dale McClanaghan"
Dale McClanaghan, President and CEO

About Lotus Ventures Inc.

Lotus Ventures Inc. (CSE:J) (OTC:LTTSF) is a BC-based licensed producer and wholesaler of premium cannabis. Lotus owns and operates the consumer brand Lotus Cannabis Co. which has had its cannabis flower sold by wholesale partners in nine Canadian provinces to date, except Quebec. Lotus is an experienced cannabis cultivator with operations in the North Okanagan, BC, and the Lotus Kalifornia and Tranquil Elephantizer flower is currently sold in Ontario in partnership with Kolab Project.

To invest in the Company, Lotus Ventures Inc. is listed on the Canadian Securities Exchange under the symbol J and on the OTC Markets under the symbol LTTSF.

For More Information:

President & CEO
Dale McClanaghan
dalemcclanaghan@gmail.com
604-644-9844

Investor Relations
Daniel McRobert
investors@lotuscannabis.ca
604-842-4625

BC Retailer Inquiries
info@lotuscannabis.ca

To learn more, visit lotuscannabis.ca/updates or follow the Lotus brand on social media.

Instagram: @lotuscannabisco
Twitter: @lotuscannabisco
LinkedIn: @lotuscannabisco
Facebook: @lotuscanna

Forward-Looking Information:

This document includes certain statements that are not descriptions of historical facts but are forward-looking statements. Such statements include, among others, those concerning our expected financial performance and strategic and operational plans, our future operating results, our expectations regarding the market for medical and recreational cannabis products, our expectations regarding the continued growth of the medical and recreational cannabis market, as well as all assumptions, expectations, predictions, intentions, or beliefs about future events. Users are cautioned that any such forward-looking statements are not guarantees of future performance and that a number of risks and uncertainties could cause our actual results to differ materially from those anticipated, expressed or implied in the forward-looking statements. These risks and uncertainties have not been documented or mentioned in this document nor other communications made by the company. The words "believe," "expect," "anticipate," "project," "targets," "optimistic," "intend," "aim," "will" or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. The Company assumes no obligation and does not intend to update any forward-looking statements, except as required by law.

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

SOURCE: Lotus Ventures, Inc.



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