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120 YEARS OF FAMILY FARMING EXPERIENCE PROVES ITS VALUE
Speakeasy's completion of its successful 2020 first outdoor harvest highlights how important the combination of the Geen family's farming experience, combined with genetics and the perfect climate are, in the making of a successful cannabis crop.
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QUALITY AND HARVESTING STRATEGY OPENS UP DYNAMIC SALES OPPORTUNITIES TO INCREASE MARGIN
The harvest yielded quality much higher than our expectations. SpeakEasy now holds over 72,000 kilograms of dried, fresh frozen and biomass in its inventory. With its low cost to harvest, as opposed to greenhouse costs that currently dominate the industry, the Company has an opportunity to disrupt categories within the industry. Pre-rolls and a wide range of extract products will be the main end products for the majority of the outdoor crop. We believe that the largest advantage the Company has over its competition is its low cost production, giving us the ability to be extremely price competitive on the market while continuing to maintain healthy profit margins. More and more, price point is becoming a key factor in product selection in the Canadian market and SpeakEasy expects to bring high quality products at extremely competitive pricing.
- Consumer Facing Brands - Over the last 3 years, our team has been developing multiple brands that take advantage of the robust products we expect to produce upon receipt of all applicable
Health Canada licences and we're excited to showcase them in the coming months. - White Label - This offers us the second highest margin opportunity where SpeakEasy will both manufacturer and package the product onsite.
- B-to-B - Our focus with wholesale products is to manufacture raw material to a finished product like that of shatter or live resin to increase margin of the input material.
Geen further states, "We have spent months in discussions with multiple Province's distribution companies and partners who are responsible for distribution for recreational and medical sales along with specialty groups like veterans affairs. Discussions have been very positive and the groups we have begun working with are like minded and enthusiastic about working together."
HARVEST YIELD BREAKDOWN OF 72,000 KILOGRAMS
- Dried Flower yielded 11,400 kg and will be used for a multitude of products including flower as a finished product, pre-rolls, shatter, distillate and a range of value added products.
- Fresh Frozen flower yielded 13,861 kg and was harvested and immediately frozen to minus 30 degrees allowing preservation of volatile terpenes. This method of harvest allows for the creation of certain types of high value extracts only possible when made from fresh frozen material. SpeakEasy believes it has the largest single supply of fresh frozen flower in
Canada . - Biomass yielded 47,250 kg and will be used for bulk extraction, the cannabinoids gleaned from that process will be the input material for many value add products.
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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 its first sales and the timing thereof; its expectations that concerning achieving full production and the timing thereof; and its intent to produce and sell high quality craft cannabis, 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 has not approved nor disapproved the contents of this news release.
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