CALGARY, AB, Sept. 21, 2020 /CNW/ - Sugarbud Craft
Growers Corp. (TSXV: SUGR) (TSXV: SUGR.WT) (TSXV: SUGR.WS) (TSXV:
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/
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.
Websites:
http://www.sugarbud.ca/
http://craftcannabiscollection.ca
SOURCE Sugarbud Craft Growers Corp.