VANCOUVER, British Columbia--(BUSINESS WIRE)--Sproutly Canada, Inc. (CSE: SPR) (OTCQB: SRUTF) (FSE: 38G) (“Sproutly" or the “Company”) is pleased to provide an update on its business strategy and operations. In light of the significant advancements made by Sproutly and Infusion Biosciences Inc. (“Infusion”) on the APP Technology, as well as recent developments in the cannabis industry in Canada, the Company will now accelerate the commercialization of the APP Technology in Canada. Sproutly is leveraging its technological assets, where it believes it has a competitive advantage, to become a broad supplier of technology-enabled cannabis ingredients to partners and customers to produce truly unique beverages, edibles, and extracts. (the “Business Strategy”).
Sproutly’s Business Strategy now consists of four core objectives, being:
- Providing Infuz2O as a formulated ingredient for use in cannabis beverages and other novel form-factors to a range of partners and customers including licensed producers in Canada as well as consumer goods companies looking to enter the cannabis space.
- Providing Bio Natural Oil (“BNO”) as a formulated ingredient alternative to isolate/distillate cannabis oils for use in innovative strain specific edibles/finished products.
- Preparing a product portfolio of Sproutly branded products for launch into the Canadian Cannabis Marketplace.
- Aligning cannabis flower cultivation and branding operations to increase sales volume and efficiency.
The Company’s Business Strategy is expected to deliver on:
- Accelerating the path to greater revenues and profitability.
- Diversifying revenue streams and improving working capital position.
- De-risking the cannabis beverage strategy by opening up to partnering and supplying multiple customers with formulated products to address industry issues.
“As the Canadian cannabis industry continues to develop, our goal at Sproutly has never wavered. The Company’s focus has always been on commercializing technology that has the ability to reshape the way that cannabis products are formulated, ingested, and experienced by consumers,” said Keith Dolo, Chief Executive Officer and Director of Sproutly. “Our primary objective continues to be, to bring the APP Technology to market through commercializing products in many new and innovative ways. Throughout all the changes in the Canadian cannabis landscape, our technology value proposition remains intact and the APP Technology is completed, poised, and ready for applications in high value consumer products segments such as oils, edibles, and beverages. Moosehead continues to be a key part of our story. The tremendous amount of work that Sproutly and Moosehead have completed to date gives us a great deal of confidence that our collaborative beverage products will be unmatched and stand alone in the beverage category,” Dolo added.
About Sproutly Canada, Inc.
Sproutly’s core on is to become the leading supplier to the cannabis beverage and edibles market. The Company’s Toronto based facility, licensed under the Cannabis Act, was built to cultivate pharmaceutical grade cannabis to supply a technological breakthrough in producing and formulating the first natural, truly water-soluble cannabis solution known as Infuz2O. Our water-soluble ingredients and our bio-natural oils will deliver revolutionary brands to international markets that are clamouring for well-defined commercial products. Sproutly’s business focus is to execute on partnerships with local and globally established consumer brands to leverage their existing customer bases, further expand brand loyalty, assist with marketing, and support distribution networks to deliver this scientific breakthrough with speed and efficiency worldwide.
For more information on Sproutly, please visit: www.sproutly.ca.
Cautionary Note Regarding Forward-Looking Statements: This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws or forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to future events or future performance and reflect the expectations or believes regarding future events of management of Sproutly. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. This information and these statements, referred to herein as "forward-looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things, timing relating to the formation of the Joint Venture, the qualities of the Infused Beverages and the Company realizing anticipated benefits and synergies from the Joint Venture. These forward-looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These assumptions, risks and uncertainties include, among other things, the Company’s inability to successfully develop and produce the Infused Beverages, the Company’s inability to obtain any necessary regulatory approvals, failure to complete or realize anticipated benefits and synergies from the Joint Venture; potential negative consumer, investor or public perception of a party’s respective current brand or company; changes in consumer preferences and product trends; and political, legal and regulatory uncertainty relating to cannabis products generally. In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, that the Company will be successful in completing the development and production of the Infused Beverages, the Company will obtain all applicable regulatory approvals from global jurisdictions including Health Canada and the Company will be able to successfully satisfy all of the conditions in the Joint Venture Agreement. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.