Vancouver, British Columbia--(Newsfile Corp. - July 10, 2018) - Sproutly Canada Inc. (CSE: SPR) is the latest new listing on the
Canadian Securities Exchange, following a reverse take-over with Stone Ridge Exploration. Sproutly, through its indirect wholly
owned subsidiary Toronto Herbal Remedies Inc. recently received its Access to Cannabis for Medical Purposes Regulations license
from Health Canada to cultivate cannabis.
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Following the granting of the license, the company is now permitted to cultivate cannabis at its 16,600 square foot production
facility, which utilizes state-of-the-art technology. With the facility strategically located in the Greater Toronto Area, the
company is able to service 6.4 million adults with same day delivery service and an oversized Level 9 Vault allows for the ability
to act as a distribution centre for other Licensed Producers, pending Health Canada's approval.
Keith Dolo, CEO, stated: "Achieving our Cultivation License is a significant milestone and key to implementing our strategy
to become a leading vertically integrated cannabis consumer products company, bringing together pharma-grade cultivation, secured
distribution solutions, and advanced technologies to redefine the cannabis industry."
The company previously announced signing a letter of intent to acquire Infusion Biosciences Canada Inc, a biotech company
possessing the rights to Infusion Biosciences Inc.'s APP Technology for specific jurisdictions. The APP Technology is a
proprietary, patent pending recovery process for recovering both water soluble and Bio Natural Oil cannabinoids. with a highly
scalable, low-cost recovery yields attractive economics as compared to other extraction methods that require further processing
beyond extraction to produce consumable products.
The company also signed a letter of intent to acquire SSM Partners Inc., a management company engaged in the commercialization
of products and formulation services for APP Technology in specific jurisdictions. This joint transaction is expected to be
completed in July.
Keith Dolo, CEO, further commented: "Pending closing of the Proposed Acquisition, Sproutly seeks to become a dominant player
and provider of best-in-class cannabis products, by creating a powerful platform to serve the needs of the food and beverage
industry."
For more information, please visit the company's website www.sproutly.ca, contact Keith
Dolo, CEO, at 778-945-6860 or email investors@sproutly.ca.
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