(TheNewswire)
VANCOUVER, B.C. / TheNewswire / November
1, 2018 –
Sproutly Canada, Inc. (CSE: SPR) (OTCQB: SRUTF) (FRA: 38G) (OTCQB: SRUTF) (“Sproutly" or
the “Company”) is pleased to announce that its wholly-owned subsidiary Toronto Herbal Remedies
Inc. (“THR”), a licensed producer under the ACMPR, located in the Greater Toronto Area (the
“Cultivation Facility”) has submitted an “addition of activity” in the
month of October, to its Health Canada license, in order to produce cannabis oils. Sproutly also updates, that’s it cannabis plants
are in a very healthy state as it progresses through its cultivation phase.
“The submission to expand our license through Health Canada with our application to produce oils is a key
milestone in moving our business forward” said Keith Dolo, President and CEO of Sproutly. “This is a clear demonstration of our
team’s efforts and ability to meet our strategic targets by year-end. This sets in motion our broader strategy to become a leader
in the cannabis consumer product space.”
"We filed the results of our second quarter on Sedar on October 30, 2018. It was a pivotal quarter for us
as we finalized a number of significant developments in the evolution of Sproutly. In this quarter we completed our public
listing on the CSE, obtained our cultivation license from Health Canada, and completed a transformational acquisition of Infusion
Biosciences Canada Inc. and SSM Partners Inc.”, stated Keith Dolo, President and Chief Executive Officer of Sproutly. “With
the completion of these milestones and the proceeds of our recent $20 million financing, we are well positioned to execute on our
plans to advance the business in order to scale and become the leading supplier to the cannabis beverage and edibles
market.
About Sproutly Canada,
Inc.
Sproutly’s core mission is to become the leading supplier to the cannabis beverage and edibles market. Our
Toronto based, ACMPR licensed facility was built to cultivate pharmaceutical grade cannabis to supply a technological breakthrough
in producing and formulating the first natural, truly water-soluble cannabis solution. Our water-soluble ingredients and our
bio-natural oils will deliver revolutionary brands to international markets that are clamouring for well-defined commercial
products. Sproutly’s business focus is to execute on partnerships with local and globally established consumer brands to leverage
their existing customer bases, further expand brand loyalty, assist with marketing, and support distribution networks to deliver
this scientific breakthrough with speed and efficiency worldwide.
For more
information
on Sproutly, please
visit www.sproutly.ca.
Contact:
Keith Dolo, Chief Executive
Officer of Sproutly Canada
Email: investorrelations@sproutly.ca
Forward-Looking Statements
Cautionary Note Regarding Forward-Looking Statements: This release includes certain statements and information
that may constitute forward-looking information within the meaning of applicable Canadian securities laws or forward-looking
statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements
relate to future events or future performance and reflect the expectations or believes regarding future events of management
of Sproutly Canada. Generally, forward-looking statements and information can be identified by the use of
forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain
actions, events or results “may”, “could”, “should”, “would” or “occur”. This information and these statements, referred to herein
as "forward?looking statements", are not historical facts, are made as of the date of this news release and include without
limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's
expectations and intentions with respect to, among other things, the date of trading of the Sproutly Shares on the CSE and final
regulatory approvals. These forward?looking statements involve numerous risks and uncertainties and actual results might differ
materially from results suggested in any forward-looking statements. These assumptions, risks and uncertainties include, among
other things, the state of the economy in general and capital markets in particular, and other factors, many of which are beyond
the control of Sproutly Canada. Although management of the Company has attempted to identify important factors that could cause
actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be
other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements
will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are
cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any
forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in
accordance with applicable securities laws. We seek safe harbor.
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