Herbs has entered into a distribution agreement with EAZE,
Completion of the transaction is subject to the Companies entering into a definitive agreement, as well as receipt of all appropriate
The consideration for the transaction is
This is an arm's length transaction. The Company will not be taking on any long-term debt. No finder's fee is to be paid in relation to the transaction.
Strategic Rationale
Expands AUDACIOUS's footprint in
Herbs' license, in addition to retail, includes the ability to cultivate, manufacture (edibles and derivatives production) and distribute cannabis products
One of only 16 dispensaries1 in
Distribution agreement with EAZE significantly expands market reach throughout all of
Retail footprint enables direct access to end customers
Contract manufacturing agreements reduce capital requirements while accelerating launch of AUDACIOUS brands in new jurisdictions
Creates a platform for further expansion in
Compelling valuation
Dispensary
The Herbs dispensary is located in
EAZE
EAZE is the largest legal delivery service in
AUDACIOUS Products Now Available in
In addition to building up general multi-brand inventory for its dispensary, manufacture of the Company's value line of Provisions disposable vapes, as well as its 2oz, 100mg THC LOOS shots, which will be carried both by the dispensary and on the Eaze menu. The Company anticipates the 1g cartridges to be available to the market this month.
Contract manufacturing - Product Launch
The Company has made arrangements with two contract manufacturers to produce AUSA's products, which initially will comprise mainly of GT's Tsunami and Provisions brand lines. GT has won coveted awards for its products, including the High Times Cup,
The Company will also be introducing its new 1gram disposable, rechargeable cartridges in
About AUSA
Led by industry pioneer
Forward-Looking Statement
This press release contains 'forward-looking information' within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein is forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as 'plans', 'expects' or 'does not expect', 'proposed', 'is expected', 'budgets', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. In particular, this press release contains forward-looking information in relation to: the ability of ALPS to convert its pipeline into contracts; the impact of the changes to
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions and market prices for securities; the actual results of the Company's future operations; competition; changes in legislation affecting the Company; the timing and availability of external financing on acceptable terms; lack of qualified, skilled labour or loss of key individuals; risks related to the COVID-19 pandemic including various recommendations, orders and measures of governmental authorities to try to limit the pandemic, including travel restrictions, border closures, non-essential business closures, service disruptions, quarantines, self-isolations, shelters-in-place and social distancing, disruptions to markets, economic activity, financing, supply chains and sales channels, and a deterioration of general economic conditions that could limit the Company's ability to obtain external financing.
A description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company's disclosure documents on the SEDAR website at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking information contained in this press release is expressly qualified by this cautionary statement. The forward-looking information contained in this press release represents the expectations of the Company as of the date of this press release and, accordingly, are subject to change after such date. However, the Company expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.
Contact:
Tel: 1 587.855.0960
Fax: 1 800.517.4553
Web: www.odysseycontact.com
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