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SpeakEasy Reaches Lock Up with Company's "Cannabis Complex" Buildings - Designed for Small Batch Cannabis At Scale

/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR
DISSEMINATION IN THE UNITED STATES /

VANCOUVER , May 21, 2019 /CNW/ - SpeakEasy Cannabis Club Ltd. (EASY.CN) (39H.F) (the "Company" or "SpeakEasy") is pleased to provide an update on the progress of SpeakEasy's Cannabis Complex. The Cannabis Complex is a facility designed around the needs of SpeakEasy's featured growers and embodies the philosophy of growing premium small batch cannabis at scale.  SpeakEasy's mission is to employ small-scale, time tested ideas that focus on quality and attention to detail.  Efficient scaling can then be done to meet the anticipated enormous demand.

Speakeasy Cannabis Club Ltd. (CNW Group/Speakeasy Cannabis Club Ltd.)

"We are extremely excited about the progress with our Cannabis Complex", said Marc Geen , CEO, SpeakEasy.  "It is a truly innovative and a sophisticated facility, designed for our high quality, small batch cannabis.  This state of the art facility allows us to have full control of our environment while avoiding pitfalls and keeping cost controls in place," further states Marc Geen .

Below are further updates and timetables associated with our planned progression through to full stage lockup.  SpeakEasy wishes to thank all of our valued shareholders for their commitment to our ever increasing and broad scope within the cannabis industry.

Key points on timings

  • Late thaw put us behind by 4 -6 weeks
  • The liner package in LP2 and LP3 allows us to make this time back


LP2 & LP3

  • Lock up is complete
  • Sign off on structural building structural is complete
  • Application for stage 2 permitting for occupancy has been submitted
  • Mechanical walkways are being fabricated
  • Concrete pad for walkways and loading docks is nearing completion
  • Design of mechanical/climate control systems are nearing completion
  • Interior liner package has been ordered, engineering has begun
  • Septic tanks are installed and approved and have received final permit
  • Design and engineering for the backup electrical systems has been completed
  • 13,500 ft2 concrete pad has been poured and finished (LP3 Only)


LP4

  • Application for our lockup permit is in process
  • Structural, civil, mechanical, electrical Schedule B(s) are being collected
  • Permit will be submitted within the next two weeks
  • Geotech work has been completed
  • Concrete forms for the pad have been completed
  • Septic tank has been ordered
  • Design and engineering for the backup electrical systems has been completed


About Craft Cannabis: 

As the beer and spirits industry have proven, the market for small batch, high quality product is immense.  The craft spirit market alone is estimated to be worth nearly $100 billion worldwide, in the next half decade.  Craft cannabis is an extremely valuable and an under produced commodity to which, SpeakEasy is poised to benefit from.

*Broken Coast Cannabis, a relatively tiny small batch cannabis company from British Columbia was acquired by Aphria for $230 million in January 2018 .

Unique cultivation, innate controls and the ultimate in customer satisfaction, are the achievements that we at SpeakEasy, strive for. The future is brighter than ever due to our land package that allows for near endless scalability.

About SpeakEasy Cannabis Club Ltd.:

SpeakEasy is a late stage applicant under the Access to Cannabis for Medical Purposes Regulations (the "ACMPR"), that is seeking to leverage three generations of farming experience in B.C., to produce high quality, small batch cannabis products once, it obtains a license to do so.   The Company currently owns 290 acres of land in Rock Creek, British Columbia . The Company's 10,000 square foot indoor facility will allow for the growth, production, and cultivation of small batch cannabis if and when the Company obtains a license from Health Canada. Construction has also commenced on an 80,000 square foot expansion facility.  Completion for the expansion is projected for Q2 2019.

Statement Regarding Forward-Looking Information

This news release contains statements that constitute "forward-looking statements." Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause SpeakEasy's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.

Forward-looking statements in this document include statements concerning SpeakEasy's intent to obtain a license under the ACMPR, its intent to produce and sell high quality craft cannabis once it receives a license from Health Canada, its mission to scale production to meet demand, its intention to complete construction of its facilities and the timeframe within which the construction of such facilities will be completed and all other statements that are not statements of historical fact.   

Although SpeakEasy believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.  By their nature, these statements involve a variety of assumptions, known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such statements.

Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; adverse industry events; future legislative and regulatory developments involving cannabis; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; the cannabis industry in Canada and generally; the demand for cannabis and cannabis related products, the ability of SpeakEasy to implement its business strategies; competition; the ability of SpeakEasy to obtain all applicable licenses under the ACMPR and other assumptions, risks and uncertainties.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

The Canadian Securities Exchange has not approved nor disapproved the contents of this news release.

SOURCE Speakeasy Cannabis Club Ltd.


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