Geyser Brands Inc. (formerly Kanzen Capital Corp.) (TSX-V: GYSR) (“Geyser Brands” or the “Company) is pleased to announce that the Company’s wholly-owned subsidiary, 0957102 B.C. Ltd. DBA Apothecary Botanicals (“Apothecary Botanicals“), has been awarded a cannabis research license (the “Research License“) by Health Canada under the Cannabis Regulations Act, allowing the Company to possess and produce cannabis for the purpose of research.

With the awarded Research License, Geyser Brands will develop new formulations for topicals, edibles, and beverages related to cannabis. The Company has already completed all of its research and planning for the next phase, and with the granting of their Research License, will now commence converting the work into real-life wellness products that have top-tier formulations. Geyser Brands’ fully operational R&D laboratory in Vancouver, BC will now develop cannabis-based products as well as operate as a pilot-scale production for the transformation of cannabis-CBD based ingredients and organic formulations.

The license will enable Geyser Brands to move ahead with research activities that involve direct handling of cannabis such as SOP development, stability testing, sensory evaluation and quality assurance for house brands and white label clients. Led by Kuldip Gill, Chief Operating Officer at Apothecary Botanicals, the research will be performed at their Health Canada approved Licensed Production facility.

Andreas Thatcher, CEO commented, “We are thrilled to announce that we have been awarded our Research License from Health Canada. We now have the opportunity to act on expanding our product development and innovation efforts through new proprietary formulations with the intent to bring cannabis to the mainstream. We look forward to working with some of our existing partners to utilize our next phase of growth and development at Geyser Brands.”

The Research License is the third license granted to Geyser Brands, after already receiving their Cultivation and Processing Licenses in October 2018 and June 2019, respectively. In addition, the Company is in the process of obtaining their final license for Medical and Retail Sales.

SOURCE Geyser Brands Inc.