CALGARY, Alberta, Feb. 16, 2021 (GLOBE NEWSWIRE) -- Sugarbud Craft Growers Corp. (TSXV: SUGR, SUGR.WT, SUGR.WS, SUGR.DB) ("Sugarbud" or the "Company") is pleased to announce that it has partnered with Velvet Management Inc. ("Velvet") to be its exclusive national sales and distribution agent for the Company’s Craft Cannabis Collection.

Pursuant to the partnership, Velvet will be primarily responsible for store level sales representation, brand advocacy and budtender education to drive wider distribution of the Company’s Craft Cannabis Collection in key target markets nationally.

"Velvet has a rich history representing leading and iconic luxury brands in the wine and spirits industry as well as the emerging cannabis sector," stated Sugarbud CEO John Kondrosky. "As a leading full-service cannabis sales agency with deep industry knowledge, and an established sales team nationwide, our collaboration with Velvet will no doubt have a significant impact on our ability to rapidly accelerate consumer visibility and consumption of the Sugarbud brand. Increasing our reach and connection to retailers, budtenders and the end user consumer is a priority for Sugarbud and critical to our revenue growth objectives. We are thrilled to be partnering with Velvet to expand our reach and capabilities in this regard," concluded Mr. Kondrosky.

Velvet Management President, Vianney Aubrecht added, "Velvet is excited to be partnering with Sugarbud and representing their Craft Cannabis Collection. Sugarbud's approach and commitment to quality - from cultivation, curing and hand trimming to their glass packing - hits all the metrics necessary for Velvet to gain national market share in the premium cannabis category. We look forward to expanding existing national distribution in the coming months."

The Company’s partnership with Velvet covers its existing dried cannabis product portfolio and will include future Cannabis 2.0 products once the Company receives Health Canada approval permitting the direct sale of cannabis extracts.

The Company currently expects approval for its amended sales license permitting the direct sale of cannabis extracts in early Q3 of 2021.

About Sugarbud 

Sugarbud is an Alberta-based, consumer-driven boutique craft cannabis company focused on the cultivation and production of superior, select-batch, craft cannabis products. Our vision and mission are to become a trusted and well-respected consumer brand renowned for providing exceptional high-quality craft cannabis products to legal markets by delighting the most discerning of cannabis consumers.

READ CORPORATE INVESTOR DECK HERE

https://www.sugarbud.ca/

About Velvet Management Inc.

Velvet Management Inc. is a cannabis agency providing product sales and distribution to provincial cannabis boards and private retailers across Canada. Velvet was created by the largest importer of alcohol in Canada, Groupe Dandurand, responsible for 6.2 million cases or $1.2 billion in retail sales. With the largest wine salesforce in Canada they service over 10,000 retail points. Groupe Dandurand has been in operation since 1968, with 225 employees and with offices in Calgary, Montreal, Toronto, and Vancouver. Their performance has won them Supplier/Partner of the Year by the LCBO multiple times.

John Kondrosky