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CALGARY, Alberta., May 17, 2021 (GLOBE NEWSWIRE) -- Sugarbud Craft Growers Corp. (TSXV: SUGR, SUGR.DB, SUGR.WR, SUGR.WS, SUGR.WT) (OTCQB: SBUDF) ("Sugarbud") is pleased to announce that as part of its fundamental commitment to quality and in collaboration with Cannametrics ("Cannametrics"), the Company has expanded consumer access to LOT/Batch Level quality information of their products with the launch of "Know Your Sugarbud".
To learn more about the cannabinoid and terpene profile makeup of a Sugarbud product, consumers can now simply enter the unique LOT/Batch code found on every package via the "Know Your Sugarbud" feature on the Company’s product page.
"Sugarbud is very proud of the quality of our products and in turn our commitment to consumer transparency and satisfaction. As an early partner and adopter of the Cannametrics Producer Connect™ platform, we are very pleased to be expanding our scope and reach to consumers by providing detailed Certificate of Analysis information on our released LOTs/Batches to all Sugarbud customers," stated Sugarbud President and CEO, John Kondrosky.
"The Cannametrics Producer Connect platform exists to empower producers to be transparent and earn the trust and loyalty of retailers and consumers. As a producer of excellent products, Sugarbud wanted to directly demonstrate quality in a way that everyone can trust, and we were happy to build them a solution. We are excited to help leaders like Sugarbud take trust and transparency to the next level and are confident that consumers and retailers alike will reward them for it," said Cannametrics Co-Founder and CEO, Eric Jacobsen.
Sugarbud is an Alberta-based, consumer-driven boutique craft cannabis company focused on the cultivation and production of superior, select-batch, craft cannabis products. Our vision and mission are to become a trusted and well-respected consumer brand renowned for providing exceptional high-quality craft cannabis products to legal markets by delighting the most discerning of cannabis consumers.
The Sugarbud Craft Cannabis Collection offers consumers "Hand-Crafted Cannabis for a New Era". The Company is proudly Albertan and is proud to share Western Canada's long tradition of exceptional craft cannabis with the most discerning of enthusiasts. Sugarbud strives to define the intersection of product craftsmanship, quality, and value for consumers in the Canadian craft cannabis space.
We Take Pride, We Take Our Time…………. Experience the Difference
Our vision is to help people have the best possible cannabis experiences by providing the information and science they need to make informed decisions. Cannametrics’ flag-ship product is Producer Connect, a business intelligence and marketing platform that connects producers directly with the retail buying managers. Producers on the platform demonstrate product quality with batch-level data and support retailers, at scale. Over 500 Canadian retailers use Producer Connect to discover and support products their customers love with the industry’s only batch-level comprehensive cannabinoid and terpene profiles, digital assets and science-based bud tender education.
Address: Suite 620, 634 - 6th Avenue S.W., Calgary, Alberta T2P 0S4
Forward Looking and Cautionary Statements
This news release contains forward-looking statements. More particularly, and without limitation, this news release contains statements concerning: Sugarbud's assessment of future plans, operations and cannabis cultivation, including sales, marketing and distribution opportunities; and the Company's ability to remain operating in accordance with developing public health efforts to contain COVID-19. When used in this document, the words "will," "anticipate," "believe," "estimate," "expect," "intent," "may," "project," "should," and similar expressions are intended to be among the statements that identify forward-looking statements. The forward-looking statements are founded on the basis of expectations and assumptions made by Sugarbud. Forward-looking statements are subject to a wide range of risks and uncertainties, and although Sugarbud believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements including, but not limited to: currently contemplated expansion and development plans may cease or otherwise change; production of cannabis may be lower than expected; ability to ship cannabis products may be lower than expected; demand for Sugarbud's products may be lower than anticipated; results of production and sale activities; results of scientific research; changes in prices and costs of inputs; demand for labour; demand for products; failure of counter-parties to perform contractual obligations; failure to maintain consumer brand recognition and loyalty of customers; reliance on relationships with wholesalers and retailers for distribution of products and failure to maintain strategic business relationships; intense competition, including from illicit sources; uncertainty and continued evolution of markets; product liability litigation; reliance on information technology; infringement on intellectual property; failure to benefit from partnerships; sensitivity of end-customers to increased sales taxes and economic conditions; failure to comply with certain regulations; departure of key management personnel or inability to attract and retain talent; actions and initiatives of federal and provincial governments and changes to government actions, initiatives and policies and the execution and impact thereof; the ability to implement corporate strategies; the state of domestic capital markets; the ability to obtain financing; changes in general market conditions; industry conditions and events; the size of the medical marijuana market and the recreational marijuana market; government regulations, including future legislative and regulatory developments involving medical and recreational marijuana; construction delays; risks inherent in the agricultural business, such as insects, plant diseases and similar agricultural risks which can have a significant impact on the size and quality of the harvest of cannabis crops; competition from other industry participants; and other factors more fully described from time to time in the reports and filings made by Sugarbud with securities regulatory authorities. In addition, the Company cautions that current global uncertainty with respect to the spread of the COVID-19 virus and its effect on the broader global economy may continue to have a significant negative effect on the Company. While the precise impact of the COVID-19 virus on the Company remain unknown, rapid spread of the COVID-19 virus may continue to have a material adverse effect on global economic activity, and can result in volatility and disruption to global supply chains, operations, mobility of people and the financial markets, which could affect interest rates, credit ratings, credit risk, inflation, business, financial conditions, results of operations and other factors relevant to the Company. Please refer to Sugarbud's AIF and MD&A for additional risk factors relating to Sugarbud, which can be accessed under Sugarbud's profile on www.sedar.com. Except as required by applicable laws, Sugarbud does not undertake any obligation to publicly update or revise any forward-looking statements.
This news release provides certain financial measures that do not have a standardized meaning prescribed by International Financial Reporting Standards ("IFRS"). These non-IFRS financial measures may not be comparable to similar measures presented by other issuers. EBITDA (meaning earnings before interest, taxes, depreciation and amortization) is not a recognized measure under IFRS. Management uses certain industry benchmarks, such as EBITDA to analyze financial and operating performance. These metrics are useful to investors and research securities analysts in evaluating operating performance. These benchmarks do not have any standardized meaning prescribed by IFRS and therefore may not be comparable with the calculation of similar measures for other entities. Please refer to the MD&A for additional information relating to non-IFRS measures, including the Company’s calculation of EBITDA.
Neither the TSXV nor its regulation services provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.