CALGARY, Dec. 5, 2019 /CNW/ - Sugarbud Craft Growers Corp.
(TSXV: SUGR, SUGR.WT, SUGR.RT) ("Sugarbud") is pleased to
announce that it has entered into a strategic plant genotyping and
tissue culture agreement with Segra Biogenesis Corp., a wholly
owned subsidiary of Segra International Corp. ("Segra").
Under the terms of the agreement, which include royalties tied
to production success, Segra will provide Sugarbud with exclusive
and proprietary cannabis cultivars as well as tissue culture
technology and services for the preservation, regeneration, and
production of key cultivars already held by Sugarbud. Plant
tissue culture, also known as plant micropropagation, is an
advanced scientific technique utilized in many commercial
agricultural applications to mass-produce plants with desirable
traits. Using micropropagation, large volumes of sterile, healthy,
disease-free, and genetically identical plantlets can be rapidly
produced. Plant tissue culture eliminates systemic diseases in
starting materials that can negatively impact yields and chemotype
expression, while at the same time dramatically reducing the space
required to maintain viable stock plants and produce healthy and
uniform plants year-round.
"The genetic diversity, reliability and integrity of our
cultivars is one of the cornerstones of our high-quality premium
cannabis value proposition and our product leadership strategy,"
stated Sugarbud CEO, John Kondrosky.
"We believe that a reliable customer experience from batch-to-batch
is an essential part of maintaining consumer confidence and trust
in our brand."
"Sugarbud is committed to quality and we are very excited to be
partnering with Segra to ensure the quality and integrity of our
cultivars. The benefits of tissue culture for the cannabis industry
and consumers alike are significant and we look forward to
collaborating closely with Segra to ensure that our customers
experience only high-quality premium cannabis," continued Mr.
Kondrosky.
"The words premium and quality are thrown around often in this
industry, however Sugarbud's early adoption of tissue culture
proves they are taking the necessary steps to ensure quality at the
highest level," stated Segra CEO, Todd
McMurray. "It is this level of dedication and commitment to
quality that builds lasting brands."
About Sugarbud
Sugarbud is a federally licensed Alberta-based publicly traded cannabis company
focused on the cultivation and production of high-quality premium
cannabis, and product leadership through the development,
production and distribution of value-added cannabis products in
Canada.
http://www.sugarbud.ca/
About Segra
Segra is an agriculture technology company offering innovative
services that accelerate the advancement of the cannabis industry
to better serve society. The company's plant tissue culture and
genomics technologies, coupled with a vast business ecosystem,
empower its clients to drive financial performance and mitigate
risk, while exploring the next frontiers of optimized cultivation
practices for the rapidly evolving medical, recreational, and hemp
markets. Segra is developing industrial-scale facilities to produce
disease-free, robust, and DNA fingerprinted cannabis plantlets for
licensed producers globally. To support this vision, Segra has
assembled a world-class team of specialists in the fields of
agronomy, molecular genetics, plant tissue culture, and regulatory
compliance. Segra currently has agreements with many leading global
cannabis producers, including the Canadian licensed producers HEXO
Corp., Agripharm Corp., and The Supreme Cannabis Company Inc.
https://www.segra-intl.com/
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, preservation and regeneration;
product quality; and the genotyping and tissue culture agreement
with Segra, including the benefits thereof. 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: failure of
counter-parties to perform contractual obligations; failure to
benefit from partnerships; ; changes in prices and costs of inputs;
demand for products; 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. Please refer to Sugarbud's most recent annual
information form and management's discussion and analysis 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.
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.
SOURCE Sugarbud Craft Growers Corp.