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Founder,
Extracts are one of the highest growth categories in
The cannabis market in
This licence amendment substantially increases product offerings
Currently, SpeakEasy is licenced to sell its dried flower to consumers. With the addition of its expected sales amendment, the Company will be well positioned to enter the market with a robust lineup of products ranging from simple artisan style concentrates to more complex live resin vape carts. Formulations have been prepared and brands are ready to launch upon receipt of the amendment. The ability to create a large and diverse range of products and be able to enter each market with a low price point is predicted to give SpeakEasy a significant advantage over companies without an outdoor flower production area.
1 https://www.canada.ca/en/health-canada/services/drugs-medication/cannabis/research-data/market/extracts.html#tbl-1 | |||||||||||
2 https://www.grandviewresearch.com/industry-analysis/cannabis-extract-market |
Vertical integration for product development allows for competitive pricing
Keeping production and processing in-house is a critical way to keep costs low. SpeakEasy, in partnership with
Founder,
About
square foot indoor cannabis complex and has completed its harvest of its 60-acre outdoor field. Total yearly production of cannabis flower and biomass is projected to be in excess of 70,000 kilograms per year once in full production.
On behalf of the Board of the Directors
Forward Looking Statement
This news release contains statements that constitute "forward-looking statements." Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause SpeakEasy's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.
Forward-looking statements in this document include statements concerning SpeakEasy's expectations concerning receipt of its amended licence and the timing thereof; its expectations concerning cannabis extract sales levels; its expectations regarding its low-cost input material and its ability to pass savings on to customers; and its intent to produce and sell high quality craft cannabis at scale, and all other statements that are not statements of historical fact.
Although SpeakEasy believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. By their nature, these statements involve a variety of assumptions, known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such statements.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; COVID-19, adverse industry events; future legislative and regulatory developments involving cannabis; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; the cannabis and hemp industries and markets in
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
The Canadian Securities Exchange nor its Regulation Services accepts responsibility for the adequacy or accuracy of this release.
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