MORRISVILLE, N.C., Dec. 5, 2019 /PRNewswire/ -- Pyxus
International, Inc. (NYSE: PYX), a global value-added agricultural
company, is pleased to announce its wholly-owned indirect
subsidiary Figr Brands, Inc. has entered Ontario, Canada's legal cannabis market.
Figr's cannabis products are now available for sale online through
the province's Ontario Cannabis Store (OCS), as well as at various
retail locations.
"The entrance into Ontario
marks yet another significant milestone for Figr as it continues to
expand its footprint across Canada," said Pyxus President, CEO and
Chairman Pieter Sikkel.
"Ontario is the most populated
province in Canada with more than
14 million residents, all of whom now have the opportunity to
purchase Figr's high-quality, fully traceable cannabis
products."
Figr's entrance into Ontario
follows the November approval by Health Canada of the company's
license amendment for its Charlottetown,
Prince Edward Island, facility. The amendment permitted the
facility to operate in an additional 210,000 square feet, resulting
in an expected run rate of up to approximately 28,000 kilograms of
product per year. Upon completion and licensing of the full
Prince Edward Island expansion
project, Figr expects the facility's production capacity to be up
to approximately 43,000 kilograms annually.
"The additional capacity available at Figr's Prince Edward Island facility was a key factor
in its ability to expand into Ontario," Sikkel added. "Figr has built and
maintains strong relationships with retailers by ensuring a
consistent supply of high-quality product, and they look forward to
continuing to build those relationships as they expand across the
country."
With the addition of Ontario,
Figr's products are now available in four Canadian provinces:
Nova Scotia, Prince Edward Island, New Brunswick and Ontario.
About Pyxus International Inc.
Pyxus International Inc. (NYSE: PYX) is a global agricultural
company with 145 years' experience delivering value-added products
and services to businesses and customers. Driven by a united
purpose—to transform people's lives, so that together we can grow a
better world—Pyxus International, its subsidiaries and affiliates,
are trusted providers of responsibly sourced, independently
verified, sustainable and traceable products and ingredients. For
more information, visit www.pyxus.com.
About Figr
Figr Brands, Inc. is a vertically integrated legal cannabis
company headquartered in Toronto,
Ontario, that operates under one
sole purpose: to put character into everything it does. Figr
cannabis is sourced from the company's two licensed subsidiaries
located in Charlottetown, Prince Edward
Island, and Simcoe,
Ontario. Figr is a wholly owned indirect subsidiary of Pyxus
International, Inc. (NYSE: PYX). For more information, visit
www.figr.com.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains "forward-looking statements" as
defined in the Private Securities Litigation Reform Act of 1995.
These statements are based on current expectations of future
events. Such statements include, but are not limited to, statements
about future operating results, plans, objectives, expectations and
intentions and other statements that are not historical facts. Such
statements are based on the current beliefs and expectations of
management and are subject to significant risks and uncertainties.
If underlying assumptions prove inaccurate or known or unknown
risks or uncertainties materialize, actual results may differ
materially from those currently anticipated expected or projected.
The following factors, among others, could cause actual results to
differ from those expressed or implied by the forward-looking
statements: changes in laws and regulations or the interpretation
of laws and regulations, continued compliance with applicable
regulatory requirements, uncertainties with respect to achieving
anticipated run rates in expanded facilities, uncertainties with
respect to the timing and extent of geographic marketing expansion,
and uncertainties regarding the timing of completion of, and
licensing of, further facilities expansions. Additional factors
that could cause results to differ materially from those expressed
or implied by forward-looking statements can be found in Pyxus's
most recent Annual Report on Form 10-K for the period ended
March 31, 2019 and its other filings
with the Securities and Exchange Commission (the "SEC") which are
available at the SEC's Internet site (http://www.sec.gov).
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SOURCE Pyxus International, Inc.