I know below is old news, but I just wanted to point out that the plan is for their ecommerce platform to be ready by end of Dec. I think when the announcement is made, which if they are on schedule will be very soon, it will be a very good day for stock.
Toronto, Ontario--(Newsfile Corp. - November 30, 2020) - Pharmadrug Inc. (CSE: BUZZ) (OTC: LMLLF) ("PharmaDrug" or the "Company") is pleased to announce that its wholly-owned subsidiary Interrobang Ltd. (doing business as Super Smart) ("Super Smart") will be launching its new Slim Winkel brand in the next couple of weeks. The Company's work with Essential Good LLC ("Essential Good") has advanced tremendously and the Company expects the new online retail store will be ready to launch early in the new year with differentiated brand positioning and an enhanced product line. The company has also narrowed its search for an Amsterdam location where Super Smart plans to build a major flagship superstore for its new retail concept.
Management now believes that given the pandemic, it makes more sense to lead with an online platform. It also enables the company to more easily launch and establish brand recognition. The company is far advanced with its work with Essential Good to develop the Slim Winkel e-commerce platform, which should be done by year end. Essential Good has significant online retail experience and is currently developing an online e-commerce platform for a major American Cannabis Multi State Operator. The Slim Winkel online platform will be an innovative e-commerce website unlike any of the current operators in the sector. The online store will sell psilocybin truffles as well as functional mushrooms and other legal wellness plants. The online retail store will also be available outside of the Netherlands where will not include psilocybin truffles. The company is negotiating for warehousing space outside of Amsterdam and has also began sourcing supply for an enhanced product line that will immediately distinguish the online shop from the other standard competitors in the space. The Company expects to launch the platform early in the new year. The final brand concept will be released in the next couple of weeks with a revamped Super Smart website.
Super Smart is still involved in active discussions with several additional smart shop owners in the Netherlands, but is quickly determining that it makes more sense to open greenfield locations. Management has begun discussions with industry veterans who share in The Company's vision and together The Company is contemplating establishing partnerships to build stores and import new products into the country. The COVID Pandemic has increased the number of vacancies and choice locations are becoming available at attractive prices. The Company narrowed their search in Amsterdam and believe they can secure a location for a flagship Slim Winkel superstore in the next couple of months. The aim of the store will be to serve as a destination spot for tourists that will also have an enhanced and differentiated product line for Dutch consumers. The Company has also established the next 5 cities where The Company intends to follow with additional stores.
Super Smart took effective control of its first smart shop on October 1, 2020. The Smart Shop is located in the Town of Tiel, a municipality in central Netherlands, and will serve as an initial platform for Super Smart to build out and refine its new smart shop vision and a springboard to launch its brand and develop its operations. Over the past few months, Super Smart has laid much of the groundwork needed to purchase the first store and as such began developing the organizational structure that will enable the company to open several locations and scale up more efficiently. The first month of operations saw a significant increase in volumes as The Company added several new products that the store didn't previously carry. The Company decided to close the store for a few weeks in November to be able to upgrade logistics, make some leaseholds improvements and prepare for the launch of The Company's new brand.
Super Smart's President Harry Resin commented, "I'm excited to expand our footprint in the Netherlands. Working with EG will help us refine our brand strategy as we prepare for our next phase. We are looking forward to launching our flagship store in Amsterdam in the first quarter of 2021."