Infused beverage expert poised to begin commercializing operations and generating substantial revenue
VANCOUVER, Feb. 25, 2020 /CNW/ - Emerging leader in infused cannabis beverages, BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC) ("BevCanna" or the "Company"), announced today that it has launched a set of strategic objectives that will guide the Company through 2020 and beyond.
Headquartered in Vancouver, Canada, with operations near Osoyoos, in the Southern Okanagan region of British Columbia, and in Sacramento California, BevCanna is a branded and white-label manufacturer of cannabis infused beverages; vertically integrated from outdoor cultivation to finished cannabis products.
"2020 is the year of execution for BevCanna and our strategic partners," said John Campbell, Chief Strategy Officer at BevCanna. "We've built a solid foundation across businesses and we are now ready to turn the corner to begin commercializing our operations and generating substantial revenue."
Mr. Campbell tabled the following strategic objectives for BevCanna for the balance of 2020:
- BevCanna will become Canada's largest organic outdoor cannabis cultivator. Our 292-acre farm is located in the Southern Okanagan region of British Columbia, an area with similar climatic attributes to Humboldt County, CA - California's prime outdoor cannabis growing region. Production costs are also roughly one-seventh the cost of indoor/greenhouse cannabis cultivation, giving the company a sustainable competitive advantage. Production output is estimated at 400,000-500,000 lbs. of biomass annually. Outdoor cannabis production, in addition to being environmentally friendly and sustainable, offers a broader, more intense, and deeply penetrating spectrum of light, which improves flavor profiles. This allows outdoor-grown plants to more fully express their genetic potential.
- BevCanna will commence white-label beverage production in Canada by Q3-2020. The Company will manufacture beverages for other Canadian licensed producers who wish to leverage their brands' equity to create infused beverages. The high regulatory barriers to entry for cannabis-infused beverages is proving challenging for many licensed producers that wish to expand their brands into this emerging category. Beverages are BevCanna's core expertise and BevCanna's world-class bottling facility has been designed with maximum flexibility, to cover a wide array of bottle sizes and form factors, allowing the company to fully service its white label client needs.
- BevCanna will commercialize its house brands, Anarchist Mountain and Grv Beverages, selling these product lines in Canadian licensed retailers by Q4-2020. The initial launch will focus on the BC, ON, AB, and SK markets. Anarchist Mountain, a lightly sparkling botanical-flavored line of alkaline spring water beverages, will be available in varying amounts of THC (10mg, 7.5mg, 5mg), and Grv, a line of iced tea flavours, will be available with a 1:1 cannabinoid ratio (5mg THC and 5mg CBD).
- BevCanna will finalize its previously announced joint venture with Bloom, and commercialize Bloom branded cannabis concentrates and extracts, selling these product lines in Canadian licensed retailers by Q4-2020. The Company has an LOI with an intent to enter into a definitive agreement with high-profile cannabis operator company, Capna Intellectual, Inc. to bring its leading multi-state cannabis vape brand, Bloom, to Canada. BevCanna will manufacture and sell Bloom branded products including cannabis concentrates and extracts, in Canada. BevCanna will also acquire exclusive licensing and manufacturing rights to select product formats, technology and branding assets of Bloom.
- BevCanna will commercialize our proprietary THC water-soluble powder technology in California. This will be launched under a house brand name, to be announced in March 2020, through a pilot launch in select dispensaries in Sacramento, CA. Full commercial product launch across California is planned for Q2-2020.
- BevCanna will commercialize the Anarchist Mountain and Grv Beverages brands' ready-to-drink formats in California licensed retailers by Q3-2020. Through co-packing and distribution arrangements currently in progress, BevCanna plans to launch a full-form factor product line up in the state of California by the third quarter, ranging from water-soluble powders to ready-to-drink beverages.
- BevCanna will introduce our Hemp-Derived CBD powder and ready-to-drink beverage lines into Europe, through local co-packing and distribution arrangements with Mota Ventures and their subsidiary Sativida, the Company's exclusive European joint venture partners. According to Grand View Research, the global CBD market is expected to reach $23.6B over the next five years. Brightfield Group projects the European CBD market to grow by 400% over the next four years.
BevCanna also announced today that it has entered into a marketing and investor relations agreement (the "Agreement") dated February 17th, 2020 with Aktiencheck.de AG (the "Consultant") pursuant to which the Consultant has agreed to provide certain corporate branding, marketing, online corporate communications and investor relations services to the Company for a term of one month, for total cash consideration of €50,000, which was paid upon entry into the Agreement.
About BevCanna Enterprises Inc.
BevCanna Enterprises Inc. (CSE: BEV, Q:BVNNF, FSE:7BC) BevCanna Enterprises Inc. develops and manufactures cannabinoid-infused beverages and consumer products for in-house brands and white label clients. With decades of experience creating, branding and distributing iconic brands that have resonated with consumers on a global scale, the team demonstrates an expertise unmatched in the emerging cannabis beverage category. Based in British Columbia, Canada, BevCanna has a 292-acre outdoor cultivation site in the Okanagan Valley and the exclusive rights to a pristine spring water aquifer, access to a world-class 40,000-square-foot, HACCP certified manufacturing facility, with a current bottling capacity of up to 210M bottles per annum. BevCanna's vision is to be a global leader in infused innovations.
On behalf of the Board of Directors:
John Campbell, Chief Financial Officer and Chief Strategy Officer
Director, BevCanna Enterprises Inc.