Significant progress charted across all objectives for the emerging health and wellness leader
BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC) (“BevCanna” or the “Company”), an innovative health and wellness beverages and products company, today released the following letter to shareholders from the Company's Chief Executive Officer, Marcello Leone, and Chief Financial Officer, John Campbell. The letter outlines a number of corporate and operational updates.
Dear Shareholders,
Over the past year, BevCanna has made great strides in its strategic evolution into a leading diversified health and wellness company. Transformative acquisitions have allowed us to expand our presence in a number of wellness categories and we’ve developed a robust portfolio of wellness and cannabinoid beverages and consumer packaged goods for both in-house brands and white label clients.
BevCanna shareholders are aware that the Company’s shares have temporarily ceased trading, as the increased complexity of valuing the Company’s holdings delayed the completion of its annual financial statements, accompanying management’s discussion and analysis and required certifications for the year ended December 31, 2021 (the “Annual Filings”). BevCanna currently anticipates that the Annual Filings will be filed on or before September 30, 2022, and its interim financial statements for the three month period ended March 31, 2022 and for the six month period ended June 30, 2022 will be filed within five business days of the filing of the Annual Filings. BevCanna’s shares are expected to resume trading on all currently listed exchanges (CSE:BEV, Q:BVNNF, FSE:7BC) upon successful filing.
One of BevCanna’s primary focuses in 2022 has been to significantly expand its total addressable market, leveraging the Company’s industry-leading international brands and extensive distribution system across its cannabis and CPG categories. BevCanna continues to concentrate on securing incremental customers and contracts while building new revenue streams through house brands, white-label, licensing and a strong direct-to-consumer e-commerce platform. The Company continues to build a leadership position in innovative health and wellness products, while striving to create sustainable, long-term value for shareholders.
BevCanna has achieved a number of key corporate and operational goals in 2022. Although the past year has been challenging for many in the venture capital markets, including BevCanna, the Company is in a stronger position now than at any time in its history, and is pleased to share the following updates.
1. Corporate Highlights:
2. Operational Highlights
BevCanna Operating Corp.
BevCanna Operating Corp. is focused on accelerating growth through:
BevCanna Operating Corp. Highlights:
Keef Brands
BevCanna has continued to expand its regulated recreational retail distribution network within the Company’s core cannabis markets of British Columbia, Alberta, Ontario and Saskatchewan, through the Company’s partnership with Velvet Management, Canada’s leading cannabis sales agency. Canada now has 3,162 retail stores open as of April 20221, with the four core markets accounting for 87.1% of the retail landscape. BevCanna’s Keef products are now available in markets representing 75% of total Canadian sales. BevCanna also plans to launch in Manitoba in Q4-22 and Quebec in 2023.
Keef Brands Highlights:
Naturo Group
Naturo Group has signed a number of private label contracts and signed supply agreements with notable Canadian partners to provide white-label products, including 7-Eleven, London Drugs and the BC Ministry of Forests.
Naturo Group’s TRACE brand achieved sustained growth of its CPG retail distribution network, building on its more than 3,000 points of retail distribution across North America and internationally.
Naturo Group Private Label Highlights:
Naturo Group TRACE Highlights:
Embark Health
The integration of Embark Health further increases the Company’s in-house and wholesale production capabilities, complementing its beverage manufacturing operations and expanding its capabilities to include solventless extraction modalities. This positions the Company to significantly increase production to satisfy surging demand for its Hazel Hash Stick, Embark Hash Hit, Bubbleman Rosin and Bubbleman Bubble Hash.
Highlights:
Pure Therapy
In conclusion, we’re very pleased with the significant progress achieved across each of our subsidiaries and look forward to continuing to expand across our focus categories in 2023.
Sincerely,
Marcello Leone, CEO, BevCanna Enterprises Inc. and John Campbell, CFO, BevCanna Enterprises Inc.
About BevCanna Enterprises Inc.
BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC) is a diversified health & wellness beverage and natural products company. BevCanna develops and manufactures a range of alkaline, plant-based, and cannabinoid beverages and supplements for both in-house brands and white-label clients.
Based in British Columbia, Canada, BevCanna owns a pristine alkaline spring water aquifer and a high capacity 40,000–square–foot, Health Canada and HACCP certified flexible manufacturing facility in Osoyoos, British Columbia. The Company’s extensive distribution network includes more than 3,000 points of traditional and regulated retail distribution, and online through its market-leading TRACE brand, its Pure Therapy natural health and wellness e-commerce platform, its fully licensed Canadian cannabis manufacturing and distribution network, and a partnership with #1 U.S. cannabis beverage company Keef Brands.
On behalf of the Board of Directors:
John Campbell, Chief Financial Officer and Chief Strategy Officer
Director, BevCanna Enterprises Inc.
Disclaimer for Forward-Looking Information
This news release contains forward-looking statements. All statements, other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements. The forward-looking statements reflect management’s current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking statements. Forward-looking statements made in this news release include, but are not limited, to: the Company’s expectation that the Annual Filings will be made by September 31, 2022, and that its interim financial statements for the three month period ended March 31, 2022 and the six month period ended June 30, 2022 will be filed within five business days of the filing of the Annual Filings; that BevCanna’s shares are expected to resume trading on all currently listed exchanges upon successful filing; the Company continues to build a leadership position in innovative health and wellness products, while striving to create sustainable, long-term value for shareholders; BevCanna Operating Corp. is focused on accelerating growth; Keef is projected to hold the #1 share in the Ontario Cannabis Store by early 2023; the projected launch in Q1 2023 of Anarchist Mountain’s 10mg THC Lemonade Iced Tea; BevCanna also plans to launch in Manitoba in Q4-22 and Quebec in 2023; Alkaline87 500ml mineralized spring water planned for launch in Q4-22; New TRACE 1L product now in 200 U.S. retail locations, with significant expansion underway for 2023; Final testing for Japan market planned for Q4-22, with full launch planned for Q1-23; the Company is positioned to significantly increase production to satisfy surging demand for its Hazel Hash Stick, Embark Hash Hit, Bubbleman Rosin and Bubbleman Bubble Hash; that the Company is actively negotiating an IP deal in the US to brand the market-leading proprietary Hash Stick and Hash Hits in Washington, Nevada, and California; solidified partnership with primary natural health manufacturer, including the ability to deliver various cannabinoid, delta 8, and delta 9 infused products in the future; the Company continued build out of the supply chain with the future goal of pivoting a wide variety of SKU’s, such as CBD gummies and non-CBD gummies, to on-demand fulfillment; due to the ongoing natural health ingredient shortage, the Company added a secondary manufacturer with a range of capabilities to ensure future demand is satisfied; developed and currently integrating new in-house wholesale natural health products program portal for U.S. based products; the Company added and prepared for launch 16 new natural health product SKU’s, ranging from gummies to shots to powders, to prepare for a potential surge in demand for eCommerce brands leading into Q4 2022; and other business plans of the Company.
Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be put on such statements due to their inherent uncertainty. Factors that could cause actual results or events to differ materially from current expectations include, among other things: that the Company may not be able to complete the steps required to make the Annual Filings by September 31, 2022 , and that its interim financial statements for the three month period ended March 31, 2022 and the six month period ended June 30, 2022 will be filed within five business days of the filing of the Annual Filings; general market conditions; changes to consumer trends and preferences in the markets in which the Company operates; inability to enter into commercial agreements as anticipated or at all; and other factors beyond the control of the Company. BevCanna expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law, and the Company does not assume any liability for disclosure relating to any other company mentioned herein.
Last Trade: | US$0.003 |
Daily Volume: | 0 |
Market Cap: | US$14K |
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