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Vancouver, British Columbia--(Newsfile Corp. - December 3, 2020) - PeakBirch Logic Inc. (CSE: PKB) (FSE: KYH2) ("PeakBirch" or the "Company") is proud to announce further global expansion into the UK market by entering into a relationship with AF Trading Ltd ("AF Trading") which allows PeakBirch and AF Trading to partner to provide PeakBirch's customers with access to a premium selection of vaporizers, glass, and accessory brands.
By entering into a relationship with AF Trading, PeakBirch will have gained vital access to a distribution facility in the UK that will enable it to service a new market through its portfolio of niche e-commerce websites, including NamasteVapes.com, and EveryoneDoesIt.com.
On November 1st, 2018 the UK legalized medicinal cannabis. The market is estimated to have 4.7 million cannabis users, and the market value is estimated to reach US$3 billion (£2.3 billion) by 2024. It is rapidly growing from an estimated starting point of approximately US$190,000 (£147,200) in 2019, as reported in the UK Cannabis report that is based on NHSBSA data gathered between November 2018 and August 2019 for England only.
"We are excited about entering into a relationship with AF Trading and the access it grants us to the UK market. We see a great potential in this new market. There are many comparable indicators that follow the same growth and regulatory trends we saw in Canada when it first legalized medicinal cannabis in 2001," says Marc Mulvaney, CEO of PeakBirch. "By leveraging our existing brand relationships, our technology, and our new relationship with AF Trading we are well positioned to open up our brands to new customers in the UK. We expect to carve out a sizeable market share. In terms of potential revenue, we see the UK as a favorable place to do business with fewer competitors compared to the US and a market size of approximately 4.7 million cannabis customers."
"Having access to a facility in the UK shields us in case of a disruptions in supply lines from Europe. PeakBirch is well positioned to handle any instabilities that may arise due to Brexit. The UK represents another step in our global expansion plans which include establishing a strong presence across Europe."
PeakBirch Logic specializes in expanding the online presence and revenue streams of niche e-commerce websites with established domain authority and a track record of sustainability. The Company's executive team have several decades of combined, hands-on experience growing retail brands within the cannabis industry.
To learn more about PeakBirch's expansion into Canada, please contact PeakBirch using the information below.
Marc Mulvaney, CEO
Phone: (725) 218-3097
PeakBirch is a cohesive ecommerce technology group scaling multiple online businesses to become internationally successful brands. With a strong focus on consumer journey, deep analytics and AI powered trend analysis PeakBirch unlocks the true growth potential of customer-centric brands by providing revenue acceleration with customer experience optimization via a lean platform. Through a combination of the latest digital best practices and a proven team, PeakBirch Logic is committed to generating significant and sustained return on investor capital over the long-term.
About AF Trading
AF Trading Ltd is a private company incorporated under the United Kingdom companies house act, with offices located in New Romney, Kent. AF Trading is a 3rd party fulfilment and distribution company, operating a 30,000 sq foot warehouse facility supporting its clients to offer distribution services to the UK and the rest of the world. AF Trading's clients are predominantly FMCG but have recently started to specialize in distribution of Medical Cannabis and related accessories
Neither the Canadian Securities Exchange nor its regulations services provider have reviewed or accept responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING INFORMATION
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include the cost of goods to be sold under the Company's drop-shipping model, changes in government regulations or enforcement, the ability for the Company to expand its US operations or expand to international markets including Canada and the United Kingdom, the success of the Company during the holiday season and on an ongoing basis, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws. This press release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Please refer to various risk factors discussed in the Company's continuous disclosure, including its listing statement, under the Company's profile on www.sedar.com.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/69427