VANCOUVER, BC, June 08, 2020 /CNW/ - Geyser Brands Inc.
(TSXV: GYSR) (OTC: GYSRF) ("Geyser Brands" or the
"Company") is pleased to announce that it has completed
the strategic partnership and investment agreement
("Agreement") with the largest hemp company in China, Hanma Investment Group
("HMI").
HMI is China's largest
comprehensive hemp conglomerate and an industry leader and
innovator in China and
globally. It is one of the largest producers of hemp-extracted
CBD in the world, has industry leading patented
technology, and has established a strong presence in numerous
downstream areas of cannabis industry.
HMI has become a strategic shareholder of the Geyser subsidiary,
Geyser Management Inc. ("GMI"), by acquiring from the
Company 35% of the outstanding shares.
This partnership builds on the relationship and mutual promotion
of the businesses in the Greater China and Canada, which includes extending distribution
channels for Apawthecary Pets products in Greater China.
Under the terms of the agreement, HMI appoints Geyser as the
exclusive agent of HMI for the sourcing, procurement or export,
directly or indirectly, in or from Canada of all varieties of cannabis, all
varieties of hemp and any extracts including cannabinoids. As
further consideration for the shares, HMI has provided Geyser with
a $2,000,000 Canadian dollar credit
note, where the parties will agree on the delivery of a range of
products necessary for the business, including manufacturing
machinery, extraction technology, packaging materials and where
legal, cannabidiol needed for end products, including CBD Isolate,
Full Spectrum CBD oil, water soluble CBD, and specific
Cannabinoids. HMI will also have the right to appoint up to two
members of the GMI board.
About HMI
Hanma Investment Group Co., Ltd. (HMI Group) is committed to
promoting the industrial revolution of biomass to replace minerals
and becoming the world leader in hemp comprehensive application
industry. HMI Group is a leading company of Asian cannabis industry
and enjoys great reputation. For years, HMI Group has made positive
contribution to the vigorous development of industrial use and
medical use of hemp in China and
made great achievements in setting industry standards and norms. At
present, HMI Group is the only legal investment company in
China focusing on the whole
industrial chain of industrial hemp and the direction of
biopharmaceutical.
As the industry leader, HMI Group focuses on the whole
industrial chain investment of industrial hemp, from breeding,
planting, extraction, R&D to production and sales worldwide,
covering areas of biopharmaceutical, food, health food, beauty and
cosmetics, medical devices, textiles, new materials, etc. In the
meantime, HMI Group keeps deepening the industry analysis and
industry layout, actively developing technical and product
iterations, doing research and implementing the "patent pool"
strategy, strengthening the creation and application of
intellectual property rights, establishing media information
platform to expand the social influence of enterprise, building a
global product sales network, steadily entering the global
market.
About Geyser Brands
Geyser Brands Inc. develops consumer product brands in the
health and wellness sector that use hemp and CBD as a value-added
ingredient. These involve next-generation formulas that focus on
the mix of cannabinoids for specific conditions such as insomnia,
anxiety and pain. Proprietary delivery technologies include all
natural nano-technology, slow-release mechanisms and non-molecule
degrading baking processes. In anticipation of coming edibles
legislation, and with its Health Canada approved Licensed
Production Facility, Geyser Brands has 15,000 square feet in two
GMP facilities in Vancouver,
BC.
For more information, visit Geyser Brands' website at
www.geyserbrands.com.
On Behalf of the Board of Directors
"Andreas Thatcher"
____________________________________
Andreas Thatcher
Director and CEO
info@geyserbrands.com
This news release contains forward–looking
statements and forward–looking information within the
meaning of applicable securities laws. These statements relate to
future events or future performance. All statements other than
statements of historical fact may be forward–looking
statements or information. Forward–looking statements
and information are often, but not always, identified by the use of
words such as "appear", "seek", "anticipate", "plan", "continue",
"estimate", "approximate", "expect", "may", "will", "project",
"predict", "potential", "targeting", "intend", "could", "might",
"should", "believe", "would" and similar expressions.
Forward-looking statements and information are provided for
the purpose of providing information about the current expectations
and plans of management of the Company relating to the future.
Readers are cautioned that reliance on such statements and
information may not be appropriate for other purposes, such as
making investment decisions. Since forward–looking
statements and information address future events and conditions, by
their very nature they involve inherent risks and uncertainties.
Actual results could differ materially from those currently
anticipated due to a number of factors and risks. These include,
but are not limited to, the risks associated with the marijuana
industry in general such as operational risks in growing;
competition; incorrect assessment of the value and potential
benefits of various transactions; ability to access sufficient
capital from internal and external sources; failure to obtain
required regulatory and other approvals and changes in legislation,
including but not limited to tax laws and government regulations.
Accordingly, readers should not place undue reliance on the
forward–looking statements, timelines and information
contained in this news release. Readers are cautioned that the
foregoing list of factors is not exhaustive. Additional
information relating to Geyser is available
at www.sedar.com.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
SOURCE Geyser Brands Inc.