VANCOUVER, British Columbia–(BUSINESS WIRE)–Sproutly Canada, Inc. (CSE: SPR) (OTCQB: SRUTF) (FSE: 38G) (“Sproutly” or the “Company”) is pleased to announce it has completed the formulation of its initial edible product and filed with Health Canada its NNCP notification related to cannabis-infused gummies utilizing cannabis extracts produced by APP Technology. Sproutly’s gummies deliver a predictable and rapid onset of strain-specific cannabis experiences. The Company has chosen gummies as its first 2.0 product category, with the intended launch set for the second quarter of calendar 2021.
“We are pleased to be in a position to offer Canadian consumers cannabis-infused edible products that deliver, with a predictably fast onset, the total experience of unique Sativa, Indica, and Hybrid strains that have become available from advances in cannabis genetics.” commented Dr. Sen, CEO & Director of Sproutly. “The launch of gummies represents the start of commercialization of the APP Technology in innovative products in the Canadian market which will be distributed through our established relationships with a number of provincial buyers in Canada” he added.
The gummies are being launched under Sproutly’s Caliber Quick Shot brand starting with the Company’s Lemon Z and Berry White strains (each with a distinct flavor) to deliver a Sativa and an Indica experience, respectively, as an alternative to smoking. Each product will be available in a single pouch with two gummies, each with whole plant extract that contains 5mg THC for a total of 10mg THC per package, the maximum allowed under Canada’s Cannabis Act. The products will be sold under its subsidiary, Toronto Herbal Remedies Inc’s (“THR’s”), license and leverage THR’s current provincial supply agreements within Canada.
In addition to the initial formulations of cannabis gummies to be launched in Canada, due to its unique licensing agreement with Infusion Bioscience Inc. (“Infusion”), Sproutly will reap the benefits of advances made by Infusion’s scientists on additional products including cannabis-infused beverage shots with fast onset and offset of cannabis strain experience and topical formulations that deliver benefits of CBD and other plant ingredients in hemp.
About Sproutly Canada, Inc.
Sproutly’s core objective is to become the leading supplier of unique ingredients and customized formulations to the cannabis beverage and edibles market. Our natural water-soluble Infuz2O and BioNatural Oils will deliver revolutionary brands to international markets that are striving to produce diverse portfolio of differentiated consumer 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 Company’s ability to launch and supply its products in Canada; and the Company’s development and launch of its Cannabis 2.0 products.
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 develop and launch its Cannabis 2.0 products; potential negative consumer, investor or public perception of the Company’s Cannabis 2.0 products in Canada; 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 launch its Cannabis 2.0 products in Canada; that the Company’s Cannabis 2.0 products will be positively received by consumers in Canada; and that the Company will continue to develop and launch its Cannabis 2.0 products. 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 outlook that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.