Entourage Health Announces International Sale of Bulk Cannabis to Australia
04 Juli 2023 - 2:30PM
Entourage Health Corp. (
TSX-V:
ENTG) (
OTCQX: ETRGF) (
FSE:
4WE) ("
Entourage" or the
"
Company"), a Canadian producer and distributor of
award-winning cannabis products, announced today the successful
sale, execution and fulfilment of its first international order of
100kg of bulk medical cannabis to Australia. The Company expands
its medical portfolio in partnership with Lyphe Australia Pty Ltd.
(“
Lyphe”), a wholly-owned subsidiary of Lyphe
Group Ltd., which specializes in medical cannabis access for
patients. Lyphe will now offer four of the Company’s strains to
their medical cannabis patients in Australia.
“We are thrilled to be able to diversify our
business portfolio by exporting medical cannabis internationally,”
said James Afara, Entourage’s Chief Operating Officer. “We are
proud to have entered the global cannabis market and look forward
to continuing to provide patients across Canada, and now Australia,
with high quality cannabis and to further expand the Company’s
revenue streams.”
The Company also announced today that, in
accordance with the provisions of its omnibus equity incentive
compensation plan (the “Omnibus Plan”), the
Company has authorized the issuance of an aggregate of 1,600,000
deferred share units (“DSUs”) to the Board of
Directors of the Company as part of the quarterly compensation for
their services. The DSUs will vest on June 30, 2024 and are granted
in lieu of certain cash compensation for services rendered during
the second quarter of 2023.
Further details regarding the Omnibus Plan are
available in the Company’s management information circular dated
May 8, 2022, which is available on SEDAR.
About Entourage Health
Corp.
Entourage Health Corp. is the publicly traded
parent Company of Entourage Brands Corp., a licence holder
producing and distributing cannabis products for both the medical
and adult-use markets. The Company owns and operates a fully
licensed 26,000 sq. ft. Aylmer, ON processing facility. With its
Starseed Medicinal medical-centric brand, Entourage has expanded
its multi-channeled distribution strategy. Starseed’s
industry-first, exclusive partnership with LiUNA, the largest
construction union in Canada, along with employers and union groups
complements Entourage’s direct sales to medical patients. With the
launch of Syndicate, Entourage now hosts another unique medical
marketplace that offers patients a collective of Canadian
micro-cultivators’ products, along with Entourage’s family of
brands. Entourage’s elite adult-use product portfolio includes
Color Cannabis and Saturday Cannabis – sold across eight provincial
distribution agencies. It is the exclusive Canadian producer and
distributor of award-winning U.S.-based wellness brand Mary’s
Medicinals sold in both medical and adult-use channels. Under a
collaboration with The Boston Beer Company subsidiary, Entourage is
also the exclusive distributor of cannabis-infused
beverages ‘TeaPot’ in Canada, which launched in summer 2022,
starting in select provinces. In addition, Entourage also entered
into an exclusive agreement with Irwin Naturals, a renowned
nutraceutical and herbal supplement formulator of popular branded
wellness products sold across North America. The new line of CBD
soft gels is now available on Starseed’s medical platform.
Follow Entourage and its brands
on LinkedInTwitter: Entourage, Color
Cannabis, Saturday
Cannabis, Starseed & SyndicateInstagram: Entourage, Color
Cannabis, Saturday Cannabis, Starseed, &
Syndicate
For Investor & Media
Enquiries:Catherine FlamanSenior Director, Communications
& Corporate
Affairs416-910-0279Catherine.flaman@entouragecorp.com
Forward Looking Information
This press release contains "forward-looking information" within
the meaning of applicable Canadian securities legislation which are
based upon Entourage's current internal expectations, estimates,
projections, assumptions and beliefs and views of future events.
Forward-looking information can be identified using forward-looking
terminology such as "expect", "likely", "may", "will", "should",
"intend", "anticipate", "potential", "proposed", "estimate" and
other similar words, including negative and grammatical variations
thereof, or statements that certain events or conditions "may",
"would" or "will" happen, or by discussions of strategy.
The forward-looking information in this news
release is based upon the expectations, estimates, projections,
assumptions, and views of future events which management believes
to be reasonable in the circumstances. Forward-looking information
includes estimates, plans, expectations, opinions, forecasts,
projections, targets, guidance, or other statements that are not
statements of fact. Forward-looking information necessarily involve
known and unknown risks, including, without limitation, risks
associated with general economic conditions; adverse industry
events; loss of markets; future legislative and regulatory
developments; inability to access sufficient capital from internal
and external sources, and/or inability to access sufficient capital
on favourable terms; the cannabis industry in Canada generally; the
ability of Entourage to implement its business strategies; the
COVID-19 pandemic; competition; crop failure; and other risks.
Any forward-looking information speaks only as
of the date on which it is made, and, except as required by law,
Entourage does not undertake any obligation to update or revise any
forward-looking information, whether as a result of new
information, future events or otherwise. New factors emerge from
time to time, and it is not possible for Entourage to predict all
such factors. When considering this forward-looking information,
readers should keep in mind the risk factors and other cautionary
statements in Entourage’s disclosure documents filed with the
applicable Canadian securities' regulatory authorities on SEDAR
at www.sedar.com. The risk factors and other factors noted in
the disclosure documents could cause actual events or results to
differ materially from those described in any forward-looking
information.
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REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE
POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR
THE ADEQUACY OR ACCURACY OF THIS RELEASE
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