Company to Supply Multi-State Cannabis
Operator with Comprehensive Solution to Streamline
Vape Production: Ispire ONE™
LOS
ANGELES, April 30, 2024 /PRNewswire/ -- Ispire
Technology Inc. (NASDAQ: ISPR) ("Ispire" or the
"Company"), an innovator in vaping technology and precision dosing,
announced it has signed an agreement with a subsidiary
of Acreage Holdings, Inc. ("Acreage"), a publicly
traded, vertically integrated, multi-state operator of cannabis
cultivation and retailing facilities in the United States.
Under the agreement, Ispire will supply Acreage with the
Company's Ispire ONE™ vapor products and filling machines –
a comprehensive solution that aims to streamline vape production
and enhance reliability in Acreage's retail facilities in
the United States. The key
features of Ispire ONE™ include:
- Capless Technology: Ispire ONE™ eliminates the cap,
simplifying devices into single-piece units. This design reduces
leakage, contamination and device failure, enhancing production
efficiency and cost-effectiveness.
- Bottom Filling: Ispire ONE's innovative filling
procedure prevents heating core oversaturation. This technology
ensures that hot oil does not permeate the core, enhancing device
reliability and providing a flawless user experience.
- One Operator, Two Machines: Ispire ONE™ works
harmoniously with its proprietary filling machine, enabling
one-touch automation. This feature allows for easy device loading,
start-up unparalleled accuracy and speed, simplifying
operation.
"Ispire's solution offers a seamless experience that represents
the future of manufacturing efficiency, which we believe will fuel
the growth of our brands, Superflux and The Botanist" said
Patricia Rosi, Chief Marketing and
Strategy Officer of Acreage Holdings, Inc. "Its innovative
solutions align perfectly with our commitment to quality and
efficiency. We are excited about the possibilities this
relationship brings and look forward to leveraging Ispire ONE™ to
enhance our production processes and deliver exceptional products
to our customers."
"Working with our Ispire ONE™ team provides our clients with
access to our full suite of OEM/ODM customization services," said
Ispire Technology Co-Chief Executive Officer Michael Wang. "Our in-house design team is
dedicated to helping clients like Acreage customize devices to
align with their brand. With our ODM and OEM solutions, we look
forward to helping more cannabis businesses expand and elevate
their brands to new heights."
About Ispire Technology Inc.
Ispire is engaged in the research and development, design,
commercialization, sales, marketing, and distribution of branded
e-cigarettes and cannabis vaping products. The Company's operating
subsidiaries own or license more than 200 patents received or filed
globally. Ispire's tobacco products are marketed under the Aspire
brand name and are sold worldwide (except in the U.S., People's Republic of China and Russia) primarily through its global
distribution network. The Company's cannabis products are marketed
under the Ispire brand name primarily on an original design
manufacturer (ODM) basis to other cannabis vapor companies. Ispire
sells its cannabis vaping hardware only in the U.S., and it
recently commenced its marketing activities in Canada
and Europe. For more information,
visit www.ispiretechnology.com or follow Ispire on
Instagram, LinkedIn, Facebook, Twitter and YouTube.
About Acreage Holdings, Inc.
Acreage is a multi-state operator of cannabis cultivation and
retailing facilities in the U.S., including its national retail
store brand, The Botanist. Acreage's wide range of national and
regionally available cannabis products include the award-winning
brands The Botanist and Superflux. Since its founding in 2011,
Acreage has focused on building and scaling operations to create a
seamless, consumer-focused, branded experience. Learn more at
www.acreageholdings.com and follow us on Twitter, LinkedIn,
Instagram, and Facebook.
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended ("Securities Act") as well as Section 21E of the Securities
Exchange Act of 1934, as amended, and the Private Securities
Litigation Reform Act of 1995, as amended, that are intended to be
covered by the safe harbor created by those sections.
Forward-looking statements, which are based on certain assumptions
and describe the Company's future plans, strategies and
expectations, can generally be identified by the use of
forward-looking terms such as "believe," "expect," "may," "will,"
"should," "would," "could," "seek," "intend," "plan," "goal,"
"project," "estimate," "anticipate," "strategy," "future," "likely"
or other comparable terms, although not all forward-looking
statements contain these identifying words. All statements other
than statements of historical facts included in this press release
regarding the Company's strategies, prospects, financial condition,
operations, costs, plans and objectives are forward-looking
statements. Important factors that could cause the Company's actual
results and financial condition to differ materially from those
indicated in the forward-looking statements. Such forward-looking
statements include, but are not limited to, risks and uncertainties
including those regarding: whether the Joint Venture may be
successful in achieving its goals as currently contemplated, with
different terms, or at all, the Joint Venture's ability to innovate
in the e-cigarette technology space or develop age gating or age
verification technologies for nicotine vaping devices, the
Company's ability to collect its accounts receivable in a timely
manner, the Company's business strategies, the ability of the
Company to market to the Ispire ONE™, Ispire ONE™'s success if
meeting its goals, the ability of its customers to derive the
anticipated benefits of the Ispire ONE™ and the success of their
products on the markets; the Ispire ONE™ proving to be safe, and
the risk and uncertainties described in "Risk Factors,"
"Management's Discussion and Analysis of Financial Condition and
Results of Operations," "Cautionary Note on Forward-Looking
Statements" and the additional risk described in Ispire's Annual
Report on Form 10-K for the year ended June 30, 2023 and any
subsequent filings which Ispire makes with the U.S. Securities and
Exchange Commission. You should not rely upon forward-looking
statements as predictions of future events. The forward-looking
statements made in the press release relate only to events or
information as of the date on which the statements are made in the
press release. We undertake no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, after the date on which the statements
are made or to reflect the occurrence of unanticipated events
except as required by law. You should read this press release with
the understanding that our actual future results may be materially
different from what we expect.
For more information about Ispire, kindly contact:
IR Contacts:
Investor Relations
Sherry Zheng
718-213-7386
ir@ispiretechnology.com
KCSA Strategic Communications
212-896-1233
ispire@kcsa.com
PR Contact:
Ellen Mellody
570-209-2947
EMellody@kcsa.com
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SOURCE Ispire Technology Inc.