Sugarbud Announces Supply Agreement with British Columbia Liquor Distribution Branch
October 26 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 British Columbia Liquor
Distribution Branch ("
BCLDB") for the sale and
distribution of Sugarbud’s Craft Cannabis Collection to private and
public cannabis retailers in British Columbia. Sugarbud is now
authorized to sell its products directly throughout Western Canada
in British Columbia, Alberta and Saskatchewan.
BCLDB is responsible for the wholesale
distribution of non-medical cannabis to private retailers and is
the public retailer of non-medical cannabis throughout the
province, under the brand BC Cannabis Stores.
“We are delighted that Sugarbud's Craft Cannabis
Collection will now be available in British Columbia and across
Western Canada,” stated Sugarbud's CEO, John Kondrosky. “With well
over 800 private and public retail locations now operating across
BC, Alberta and Saskatchewan, we now have access to Canada’s
largest retail cannabis network and consumer access to legal
cannabis,” concluded Mr. Kondrosky.
Initial purchase orders and shipments of
Sugarbud's Craft Cannabis Collection to the BCLDB are expected to
occur in November 2020.
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.ca |
Websites: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 BCLDB; 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 continue to 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 continue to 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.
Sucro (TSXV:SUGR)
Historical Stock Chart
From Aug 2024 to Sep 2024
Sucro (TSXV:SUGR)
Historical Stock Chart
From Sep 2023 to Sep 2024