Sugarbud Announces Supply Agreement with Alberta Gaming, Liquor & Cannabis
September 21 2020 - 7:00AM
Sugarbud Craft Growers Corp. (TSXV: SUGR, SUGR.WT, SUGR.WS,
SUGR.DB)
("
Sugarbud" or
the "
Company") is pleased to announce that it has
signed a definitive supply agreement with Alberta Gaming, Liquor
& Cannabis ("
AGLC") for the sale and
distribution of Sugarbud’s Craft Cannabis Collection to private
cannabis retailers in Alberta, and AlbertaCannbis.org. Sugarbud,
together with its distribution partner, Agro-Greens Natural
Products Ltd. (“
Agro-Greens”), are now authorized
to sell Sugarbud products in Alberta and Saskatchewan.
AGLC is responsible for regulating private
retail cannabis, the distribution of cannabis and operation of
Alberta's only legal online cannabis store,
AlbertaCannabis.org.
“We are absolutely thrilled that Sugarbud's
Craft Cannabis Collection will now be available in our home
province of Alberta. With over 500 retail locations now operating
in the province, AGLC has built an impressive and expansive retail
cannabis network that continues to lead the country in terms of
consumer access to legal cannabis,” stated Sugarbud's CEO, John
Kondrosky. “As an Alberta-based licensed producer, building a
strong supply relationship with AGLC is critical to our success and
will allow Sugarbud to efficiently fulfill orders and satisfy
consumer demands,” concluded Mr. Kondrosky.
Initial purchase orders and shipments of
Sugarbud's Craft Cannabis Collection to the AGLC are expected to
occur in October.
About Sugarbud
Sugarbud is an Alberta-based, consumer-driven
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. http://www.sugarbud.ca/
John Kondrosky Chief Executive
Officer Sugarbud Craft Growers Corp. Phone: (604) 499-7847
E-mail: johnk@sugarbud.caInvestor
Relations ContactChris
MoulsonChief Financial
OfficerSugarbud Craft Growers Corp.Tel: (778)
388-8700E-mail: chrism@sugarbud.caWebsites:
http://www.sugarbud.ca/http://craftcannabiscollection.ca |
|
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; the Company's ability to
remain operating in accordance with developing public health
efforts to contain COVID-19; product quality; partnerships and
relationships, including with AGLC and Agro-Greens; the
development, production, sale and distribution of Sugarbud's Craft
Cannabis Collection; future growth; the ability to satisfy orders;
customer satisfaction; and the timing and receipt of purchase
orders and shipments. 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 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 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 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.
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