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VANCOUVER, Oct. 17, 2019 /CNW/ - Geyser Brands Inc.
(formerly Kanzen Capital Corp.) (TSX-V: GYSR) ("Geyser
Brands" or the "Company) is pleased to announce that its
subsidiary, 0957102 B.C. Ltd. DBA
Apothecary Botanicals, is preparing to commence its co-packing and
manufacturing operations as a means to grow Geyser Brands' in-house
brands, as well as bolster its operations by partnering with
third-party consumer-packaged goods brands, to bring cannabis to
the mainstream in the health and wellness sector.
Apothecary Botanicals has signed a non-binding letter of intent
("LOI") to enter into a co-packing agreement between Geyser
Brands' subsidiary, Apothecary Botanicals, and The Yield Growth
Corp. (CSE:BOSS) (OTCQB:BOSQF) (Frankfurt:YG3), for the production
and launch of Yield Growth's Canadian cannabis brand 'Jack n Jane',
a line of cannabis-infused products including tinctures, topicals,
and capsules.
Apothecary Botanicals has been engaged to manufacture and
distribute Yield Growth's 'Jack n Jane' products, combining Yield
Growth's proprietary formulations with Apothecary Botanical's
cannabis supply, services, facilities, equipment, and required
Health Canada licenses for processing and sales. Yield Growth will
supply all non-cannabis ingredients, packaging, and design while
Apothecary Botanicals will supply cannabis containing THC and/or
CBD as required for the various product formulations. The first
phase of production is expected to include three tinctures
containing THC and CBD, with a goal of coming to market by
December 31, 2019.
Apothecary Botanicals CEO, David
Eto, commented, "I'm very pleased that Apothecary Botanicals
can leverage its manufacturing, formulation, and distribution
capabilities to assist Yield Growth expand into the Canadian
market. Our in-house expertise in the food & beverage sector
will add tremendous value to cannabis brands entering the Edibles
market worth an estimated C$2.7
billion annually in Canada
alone. Our facilities are GMP-compliant and managed by food sector
specialists who understand the importance of food safety and
quality. Our business principles are grounded in building a
transparent, cost effective, and trusting partnership that will
create long lasting business relationships and positive experiences
for customers who will consume edibles."
Geyser Brands CEO, Andreas
Thatcher, commented, "The goal of Apothecary Botanicals is
to deliver innovative formulations and high-quality manufacturing
using cannabis as an ingredient. This LOI shows that we are
delivering on both. As the new cannabis legislation comes into
force, we are scaling our licensed production into beverages,
edibles and cosmetics. Our experience in food and beverage,
cosmetics, and GMP manufacturing provides a complete platform for
brands to enter the Canadian cannabis market."
According to a report by Deloitte, it is estimated that the
Canadian market for edibles and alternative cannabis products to be
worth C$2.7 billion annually. The
report states that 53% of surveyed likely Canadian cannabis
consumers are eager to try topicals.
This announcement coincides with Health Canada's official
legalization of the production and sale of edible cannabis,
cannabis extracts and cannabis topicals effective today, marking
the one-year anniversary of the legalization of recreational
marijuana in Canada.
About The Yield Growth Corp.
The Yield Growth Corp. (CSE:BOSS, OTCQB:BOSQF) owns and operates
wellness brands Urban Juve, Wright
& Well, Jack n Jane and Flourish Mushrooms and has a catalogue
of over 200 proprietary beauty, wellness, edibles and beverage
formulas at various stages of commercialization. It has filed 12
patents to protect its extraction method and formulas. Urban Juve hemp powered skin care products have
been featured in British Vogue, Vanity Fair UK and Elle Canada and Urban
Juve has an alliance with leading online beauty community,
ipsy. Wright & Well is launching a THC/CBD line of topical
products in Oregon and a CBD from
hemp topicals line in California
this fall. Yield Growth plans to launch a line of edible mushroom
wellness products in 2020.
About Geyser Brands
Geyser Brands Inc. is a consumer health and wellness company
operating within the Canadian cannabis industry. Geyser's
proprietary delivery technologies include all natural
nano-technology, slow-release mechanisms, and non-molecule
degrading baking processes. The Company provides expertise from
conceptual innovation to manufacturing and end-use distribution.
Geyser owns a suite of several brands within the consumer-packaged
goods market that are offered nationwide at many recognized
retailers. Geyser Brands owns a Health Canada approved Licensed
Production Facility and operates 15,000 sqft of manufacturing space
in two GMP facilities near Vancouver,
BC.
For more information, visit Geyser Brands' website at
www.geyserbrands.com.
On Behalf of the Board of Directors
"Andreas Thatcher"
____________________________
Andreas Thatcher
Director and CEO
andreas@geyserinc.ca
NEITHER THE TSX VENTURE EXCHANGE NOR ITS 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.
This news release contains forward‐looking
statements and forward‐looking information within the
meaning of applicable securities laws. These statements relate to
future events or future performance. All statements other than
statements of historical fact may be forward‐looking
statements or information. Forward‐looking statements
and information are often, but not always, identified by the use of
words such as "appear", "seek", "anticipate", "plan", "continue",
"estimate", "approximate", "expect", "may", "will", "project",
"predict", "potential", "targeting", "intend", "could", "might",
"should", "believe", "would" and similar expressions.
Forward-looking statements and information are provided for
the purpose of providing information about the current expectations
and plans of management of the Company relating to the future.
Readers are cautioned that reliance on such statements and
information may not be appropriate for other purposes, such as
making investment decisions. Since forward‐looking
statements and information address future events and conditions, by
their very nature they involve inherent risks and uncertainties.
Actual results could differ materially from those currently
anticipated due to a number of factors and risks. These include,
but are not limited to, the risks associated with the marijuana
industry in general such as operational risks in growing;
competition; incorrect assessment of the value and potential
benefits of various transactions; ability to access sufficient
capital from internal and external sources; failure to obtain
required regulatory and other approvals and changes in legislation,
including but not limited to tax laws and government regulations.
Accordingly, readers should not place undue reliance on the
forward‐looking statements, timelines and information
contained in this news release. Readers are cautioned that the
foregoing list of factors is not exhaustive. Additional
information relating to Geyser is available
at www.sedar.com.
SOURCE Geyser Brands Inc.