- Betty’s Eddies™ Fruit Chews now Available in both Massachusetts Medical and Adult Use Cannabis Programs
- Betty’s Eddies was the LeafLink Winner for Best Selling Medical Product in 2019
NORWOOD, Mass., Jan. 15, 2020 (GLOBE NEWSWIRE) — MariMed Inc. (MRMD:OTCQX) (the “Company” or “MariMed”), a leading multi-state cannabis and hemp operator focused on health and wellness, is pleased to announce that Betty’s Eddies™, its proprietary, in-house award-winning national cannabis brand, is now available in both Massachusetts Medical Cannabis and Adult-Use Cannabis Programs.
One of the top performing cannabis brands in the United States, Betty’s Eddies™ fruit chews are gluten-free, vegan, and produced with organically grown fruits and vegetables. Featuring a full spectrum cannabis oil, they are available in Multi-flavor packs, Betty’s Bedtime, Seasonal Apple Pie, as well as individual flavor packs. Betty’s Eddies are available at both lower and increased dosages in compliance with medical and adult use regulations to meet a wide variety of consumer and patient needs. Betty’s Eddies are manufactured at MariMed’s state-of-the-art licensed production and manufacturing facility in New Bedford.
Introduced last week at the medical cannabis program at Panacea Wellness Dispensary in Middleborough, MA, these products are now offered to all licensed medical and adult use dispensaries throughout the state. Betty’s Eddies and other MariMed cannabis brands are currently available in medical programs in Delaware, Maryland, Rhode Island, and Illinois. They will soon to be expanding into the medical program in Puerto Rico and the adult use programs in Nevada and Illinois.
Ryan Crandall, Chief Product Officer and SVP of Sales at MariMed, Inc., said, “Betty’s Eddies achieved significant sales growth in 2019 and we are now focused on expanding this brand’s availability in both existing and new markets during 2020. We appreciate the overwhelming customer support Betty’s Eddies has received, whose market feedback drives our constant development and improvement to ensure that we produce the safest, best tasting, and most effective edibles in cannabis.”
Several recent marketing studies have concluded that infused cannabis products will occupy an increasing share of the overall US cannabis market, which according to the 2019 Marijuana Fact Book, is on pace to exceed 35% growth and $12 billion in sales this year.
Bob Fireman, CEO of MariMed, Inc., said, “This is a considerable milestone for MariMed as we expand this premium brand within the key Massachusetts market. As we continue to roll out Betty’s Eddies and our other strategic licensed brands to more regions in 2020, we believe this will dramatically drive our revenues as we expand our presence into new markets where the demand for high quality, infused cannabis products continues to grow rapidly.”
MariMed Inc., a multi-state cannabis operator, is dedicated to improving the health and wellness of people through the use of cannabinoids and cannabis products. The Company develops, owns, and manages seed to sale state-licensed cannabis facilities, which are models of excellence in horticultural principles, cannabis cultivation, cannabis-infused products, and dispensary operations. MariMed has an experienced management team that has produced consistent growth and success for the Company and its managed business units.
The Company is at the forefront of science and innovation through research developed by its lab technicians and medical advisors resulting in industry-leading products and brands, including “Kalm Fusion” and “Betty’s Eddies.” These precision dosed products are focused on specific medical symptoms and are licensed and distributed across the country.
In 2019, with the enactment of the 2018 US Farm Bill, MariMed formed MariMed Hemp, a wholly-owned subsidiary, to leverage its seed to sale cannabis platform and experience into the emerging hemp-based CBD industry. MariMed Hemp has developed and is marketing a portfolio of CBD brands and products to multiple retailers and direct to consumers both domestically and internationally. MariMed Hemp recently launched its Hemp Engine™ store-within-a-store distribution platform for retailers. For additional information, visit marimedinc.com.
Important Caution Regarding Forward-Looking Statements:
This release contains certain forward-looking statements and information relating to MariMed Inc. that is based on the beliefs of MariMed Inc.’s management, as well as assumptions made by and information currently available to the Company. Such statements reflect the current views of the Company with respect to future events, including estimates and projections about its business based on certain assumptions of its management, including those described in this Release. These statements are not guarantees of future performance and involve risk and uncertainties that are difficult to predict, including, among other factors, changes in demand for the Company’s services and products, changes in the law and its enforcement and changes in the economic environment. Additional risk factors are included in the Company’s public filings with the SEC. Should one or more of these underlying assumptions prove incorrect, actual results may vary materially from those described herein as “hoped,” “anticipated,” “believed,” “planned, “estimated,” “preparing,” “potential,” “expected,” “looks” or words of a similar nature. The Company does not intend to update these forward-looking statements. None of the content of any of the websites referred to herein (even if a link is provided for your convenience) is incorporated into this release and the Company assumes no responsibility for any of such content.
All trademarks and service marks are the property of their respective owners.
Jon Levine, CFO
Tel (781) 559-8713
Jo McCarran, SVP Creative & Branding
KCSA Strategic Communications
Phil Carlson / Elizabeth Barker
KCSA Strategic Communications
Village Farms Opts to Receive $5.94 Million Cash Refund from Pure Sunfarms
Village Farms International, Inc. (“Village Farms“) (TSX: VFF; Nasdaq: VFF) today announced that it has opted to receive a $5.94 million cash refund from Pure Sunfarms Corp. (“Pure Sunfarms“) relating to an additional equity contribution that Village Farms made to Pure Sunfarms on November 19, 2019 (the “VF Additional Equity Contribution“).
As previously disclosed by Emerald Health Therapeutics, Inc. (“Emerald“), it has been disputing Village Farms’ ability to make the VF Additional Equity Contribution of $5.94 million, as well as the cancellation of 5,940,000 common shares of Pure Sunfarms placed in escrow pending payment by Emerald of its related $5.94 million equity contribution, following its failure to make its required equity contribution to Pure Sunfarms on November 1, 2019. In an effort to narrow the issues in dispute and accelerate the resolution of this shareholder dispute, Village Farms decided to unwind the VF Additional Equity Contribution, which has now been completed, with Pure Sunfarms providing Village Farms with the $5.94 million cash refund. The $5.94 million cash refund to Village Farms also eliminates the costs and delays involved in obtaining an independent appraisal of Pure Sunfarms that resulted from the VF Additional Equity Contribution.
Village Farms continues to seek the cancellation of 5,940,000 common shares of Pure Sunfarms that were placed in escrow pending payment by Emerald of its related equity contribution (the “Emerald Share Cancellation“), which was not made as required. It is Village Farms’ position that the Emerald Share Cancellation is expressly provided for in the applicable legal agreements.
“Due to the arbitration process related to the Emerald Share Cancellation taking significantly longer than originally anticipated, and with the resulting number of incremental shares for our $5.94 million equity contribution unknown, we decided to reduce the number of items in dispute in an effort to bring the matter to resolution sooner for Village Farms and its shareholders,” said Michael DeGiglio, CEO, Village Farms. “In addition, as a result of the $5.94 million cash refund to Village Farms, we anticipate that Pure Sunfarms may call for additional equity contributions by each of Village Farms and Emerald.”
If Village Farms is successful in the arbitration and Emerald’s escrowed shares are cancelled, Village Farms would own 53.5% of Pure Sunfarms and Emerald would own 46.5% effective as of November 19, 2019. Village Farms expects a decision from the arbitration panel during the second half of 2020.
Certain statements contained in this press release constitute forward-looking information within the meaning of applicable securities laws (“forward-looking statements”). Forward-looking statements may relate to Village Farms’ future outlook or financial position and anticipated events or results and may include statements regarding the financial position, business strategy, budgets, litigation, projected production, projected costs, capital expenditures, financial results, taxes, plans and objectives of or involving Village Farms and Pure Sunfarms. Particularly, statements regarding future results, performance, achievements, prospects or opportunities for Village Farms, Pure Sunfarms, the greenhouse vegetable industry or the cannabis and hemp industries are forward-looking statements. In some cases, forward-looking information can be identified by such terms as “outlook”, “may”, “might”, “will”, “could”, “should”, “would”, “occur”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “potential”, “continue”, “likely”, “schedule”, “objectives”, or the negative or grammatical variation thereof or other similar expressions concerning matters that are not historical facts.
Although the forward-looking statements contained in this press release are based upon assumptions that management believes are reasonable based on information currently available to management, there can be no assurance that actual results or events will be consistent with these forward-looking statements. Forward-looking statements necessarily involve known and unknown risks and uncertainties, many of which are beyond Village Farms’ control, that may cause Village Farms’ or the industry’s actual results, performance, achievements, prospects and opportunities in future periods to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, the factors contained in Village Farms’ filings with U.S. and Canadian securities regulators, including as detailed in Village Farms’ annual information form and management’s discussion and analysis for the year-ended December 31, 2018 and for the three and nine-month periods ended September 30, 2019.
When relying on forward-looking statements to make decisions, Village Farms cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties and should not be read as guarantees of future results, events, performance, achievements, prospects and opportunities. The forward-looking statements made in this press release only relate to events or information as of the date on which the statements are made in this press release. Except as required by law, Village Farms undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Village Farms International, Inc.
Canada House Wellness Group Announces Results of Annual General Meeting and Issuance of Stock Options
Canada House Wellness Group Inc. (CSE: CHV) (“Canada House” or the “Company“) is pleased to announce the results of the company’s Annual General Meeting of shareholders that was held in Fredericton, New Brunswick on Thursday, December 19, 2019, where two business items were presented and approved by the shareholders in attendance.
The Directors of the Company that were nominated at the meeting – Norman Betts, Chris Churchill-Smith, Shawn Graham, Gaetan Lussier, and Dennis Moir – were elected to hold office until the next Annual General Meeting of Shareholders, or until their successors are elected or appointed.
In addition, Ernst & Young LLP were appointed as auditors of the Company for the following year and the Directors were authorized to fix their remuneration.
The business summary presented at the Annual General Meeting is available on the Investor Centre section of Canada House’s website at https://canadahouse.ca.
The Company is also pleased to announce the immediate granting of 500,000 stock options to senior employees and advisors at an exercise price of $0.05 and with a term of 5-years. The grant was made in accordance with the Company’s stock option plan and the policies of the Canadian Securities Exchange.
SOURCE Canada House Wellness Group Inc.
Canopy Growth Revises Beverage Launch Timeline
Canopy Growth Corporation (“Canopy Growth” or the “Company”) (TSX: WEED), (NYSE: CGC) submitted its final documentation for its beverage facility to Health Canada in late June 2019 and subsequently received the licence in late November 2019. In the seven weeks since receiving the licence, the Company has made meaningful progress towards scaling the production process for its cannabis beverages from lab scale to commercial scale.
Management remains very confident in the underlying beverage science and in its ability to scale production and deliver high quality, differentiated cannabis beverages to the market. However, the scaling process is not complete, and the Company is extending its to-market date while the internal teams complete the final steps.
“Canopy has had seven weeks to work with THC in the brand new beverage facility to scale processes and IP it has developed in the R&D environment,” said David Klein, CEO, Canopy Growth. “In order to deliver products that meet our customer’s high standards we are electing to revise the launch date while we work through the final details.”
Cannabis beverages have disruptive power and in time, may introduce new consumers to the cannabis category. Canopy does not believe this delay will have a material impact on its FY20 revenue.
The Company intends to provide an update with the release of its Q3 FY20 financial results.
Here’s to Future (Cannabis Category) Growth.
SOURCE Canopy Growth Corporation
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