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Sproutly Canada, Inc. (CSE: SPR) (OTCQB: SRUTF) (FSE: 38G) ("Sproutly" or the "Company") announced today the addition of a supply agreement with the Ontario Cannabis Store ("OCS"), the Company’s 6th provincial supply agreement to date. This announcement comes on the heels of the Company’s October 15th announcement regarding receipt of the sales license from Health Canada for Cannabis 2.0 products directly to provinces.
The Company’s wholly-owned subsidiary, Toronto Herbal Remedies ("THR"), has entered into a cannabis supply agreement with the province of Ontario (the "Supply Agreement") through the OCS. Ontario will be the 6th province in Canada to carry the Company’s CALIBER branded products ("CALIBER"), following Saskatchewan, Manitoba, and British Columbia earlier this year as well as Alberta & New Brunswick in 2019.
"We look forward to making our CALIBER products available in Ontario, Canada’s largest market for cannabis products," said Dr. Sen, CEO & Director of Sproutly. "Adding to our current sales of flowers across Canada, we are pleased to add one of Canada’s fastest growing provincial buying groups, the OCS, to our list of partners and offer our CALIBER brand of products from coast to coast."
With the receipt of the license amendment that now permits the Company to sell Cannabis 2.0 products, the Company is in a position to offer its full line of products to the OCS. This includes Caliber Flower, Caliber Reserve Flower and upcoming Cannabis 2.0 products that will use the Company’s proprietary APP Technology to offer consumers products that aim to deliver unique experiences of different cannabis strains arising from advances in cannabis genetics.
About Sproutly Canada, Inc.
Sproutly’s core objective is to become the leading supplier of unique ingredients and customized formulations to the cannabis beverage and edibles market. Our water-soluble Infuz2O and BioNatural Oils will deliver revolutionary brands to international markets that are striving to produce differentiated consumer products. Sproutly’s business focus is to execute on partnerships with local and globally established consumer brands to leverage their existing customer bases, further expand brand loyalty, assist with marketing, and support distribution networks to deliver this scientific breakthrough with speed and efficiency worldwide.
For more information on Sproutly, please visit: www.sproutly.ca.
Cautionary Note Regarding Forward-Looking Statements: This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws or forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to future events or future performance and reflect the expectations or believes regarding future events of management of Sproutly. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward-looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things, timing relating to the Company's ability to launch and supply its CALIBER branded products in British Columbia; and the Company's development and launch of its Cannabis 2.0 products.
These forward-looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These assumptions, risks and uncertainties include, among other things, the Company’s inability to launch or supply its CALIBER branded products in British Columbia; the Company's inability to develop and launch its Cannabis 2.0 products; potential negative consumer, investor or public perception of the Company’s ‘CALIBER’ branded products in British Columbia; changes in consumer preferences and product trends; and political, legal and regulatory uncertainty relating to cannabis products generally. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that the Company will launch its CALIBER branded products in British Columbia; that the Company’s ‘CALIBER’ branded products will be positively received by consumers in British Columbia; and that the Company will continue to develop and launch its Cannabis 2.0 products. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
View source version on businesswire.com: https://www.businesswire.com/news/home/20201109006155/en/
Dr. Arup Sen, Chief Executive Officer and Director of Sproutly Canada, Inc.