Organic Flower Investments Group Inc. (CSE: SOW)(FWB:
2K6)(OTC: QILFF) ("Organic Flower" or
“OFIG” or the
“Company”) is
pleased to announce that the Company has entered into a binding
letter of intent (the “LOI”), dated April 22, 2019, to acquire 80%
of Potluck Potions and Edibles Inc. (“Potluck”). Potluck
specializes in the management of beverage industry supply chains,
including the bottling and manufacturing of a variety of beverages
(the “Bottler” of the “Facility”).
The Bottler boasts extensive experience manufacturing for
leading beverage brands such as Heineken, SABMiller as well as the
Coca-Cola Company. The Facility is strategically situated in the
Greater Toronto Area (the “GTA”) affording the Company unbridled
access to the largest addressable Canadian marketplace. The GTA is
buoyed by established infrastructure, offering the flexibility to
accommodate shipments from multiple ports and hubs
across North America.
The Facility can achieve throughput of up to 30-million bottles
per year and is equipped with state-of-the-art bottling equipment;
configured to conduct rapid production runs, with minimal downtime
for production line changeovers. The Facility is fully operational
and has been granted the following industry certifications:
- Good Manufacturing Practices (“GMP”);
- Canadian Organic Standards;
- Certified Vegan;
- Fair Trade Certification (ISO 17065); and,
- Kosher Facility Status.
Through the acquisition of Potluck, Organic Flower plans to
leverage the Facility to produce a suite of both
cannabinoid-infused and functional beverages. The Facility is
presently configured to produce formulations for water, coffee,
tea, juice and carbonated sodas in a variety of formats, including
glass bottles, polyethylene terephthalate (“PET”) bottles and
aluminum cans. The Facility has the capabilities to develop and
produce premium beverages that exceed market standards, by
leveraging innovative industry technologies including:
- Pharmaceutical-grade mixing tanks;
- Advanced UV sterilization; and,
- Custom Extended Shelf Life (“ESL”) bottling lines
The functional beverage category is increasingly becoming the
popular choice among consumers who are seeking low-calorie,
nutrient-dense options as a healthy alternative to traditional
beverages. The global functional beverage market is expected to
grow at a compound annual growth rate (CAGR) of 6.1 per cent to
$93.68-billion (U.S.) by 2019, according to a new study by Grand
View Research Inc1. Organic Flower’s functional beverage
formulations will address major and growing consumer health and
wellness needs for the modern lifestyle.
ACCESS TO CANNABIS FOR MEDICAL PURPOSES REGULATION
(“ACMPR”)
Concurrently, Organic Flower will assist with the Facility’s
application for relevant or applicable Health Canada license(s)
(the “License” or “Licenses”), or any other such relevant
certifications, which permit the Bottler to supply and distribute a
suite of cannabinoid-infused beverages, pursuant to relevant ACMPR
and Cannabis Act regulations.
Joel Dumaresq, Chief Executive Officer and a Director of Organic
Flower stated: “Canada’s progressive regulatory environment coupled
with best-in-breed management, has positioned this facility as the
ideal beachhead for future global exports of cannabinoid-infused
beverages. We are thrilled to be working with roster of leading
global experts and look forward to formulating a portfolio of
functional and adult-use beverage formulations to address a number
of lifestyle verticals, including, mood and energy, relaxation,
sleep and stress relief. This exclusive supply and distribution
equips us with the necessary resources to produce quality products
to market in an expedited fashion.
Organic Flower is currently in the midst of medicinal and
adult-use brand development, including its functional beverage
line. The initial beverages are anticipated to be ready for
consumers if and when Health Canada allows consumer beverage
products to be legal for sale. The marketing and eventual
distribution of Organic Flower’s beverage products will follow
additional testing and will be subject to necessary approvals and
licences to be granted by Health Canada and regulatory authorities
in other territories.”
Under the terms of the LOI, the Company will issue 10 million
common shares upon the execution of the definitive
cannabinoid-infused supply and distribution agreement; and an
additional 6 million common shares upon the achievement of certain
milestones to be defined under the subject supply and distribution
agreement.
The Company will pay finder's fee upon closing of the
transaction.
ABOUT ORGANIC FLOWER INVESTMENTS
Leveraging strategic relationships, proprietary investments and
exclusive partnerships with preeminent international cannabis
cultivators and formulators for the development of best in class
products and brands to be marketed and distributed throughout our
global footprint.
Via its wholly owned subsidiary, Delta Organic Cannabis Corp
(“DOC”), Organic Flower is launching one of the largest and most
efficient cannabis facilities on the planet. Organic Flower has
control or direction over 44,852,040 common shares of Agra,
representing 10.12 per cent of the issued and
outstanding shares of Agra on a non-diluted basis.
ON BEHALF OF THE ORGANIC FLOWER INVESTMENTS GROUP INC.
BOARD OF DIRECTORS
“Joel Dumaresq”
Joel Dumaresq CEO, Director +1 (604)
687-2038info@sowcannabis.ca
Learn more about Organic Flower by visiting our website
at: https://sowcannabis.ca/
THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.
Notice Regarding Forward Looking
Information:
This news release contains certain
"forward-looking information" within the meaning of applicable
Canadian securities law. Forward-looking information is frequently
characterized by words such as "plan", "continue", "expect",
"project", "intend", "believe", "anticipate", "estimate", "may",
"will", "potential", "proposed" and other similar words, or
information that certain events or conditions "may" or "will"
occur. This information is only a prediction. Various assumptions
were used in drawing the conclusions or making the projections
contained in the forward-looking information throughout this news
release. Forward-looking information includes, but is not limited
to: political changes in Canada and internationally, future
legislative and regulatory developments involving cannabis in
Canada and internationally, the Company’s ability to secure
distribution channels in international jurisdictions, competition
and other risks affecting the Company in particular and the
cannabis industry generally.
The forward-looking information contained in
this release is expressly qualified by the foregoing cautionary
statements and is made as of the date of this release. Except as
may be required by applicable securities laws, the Company does not
undertake any obligation to publicly update or revise any forward-
looking information to reflect events or circumstances after the
date of this release or to reflect the occurrence of unanticipated
events, whether as a result of new information, future events or
results, or otherwise.
__________________________
1 https://www.grandviewresearch.com/
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