Los Angeles, California, March 06, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- EUREKA Vapor is pleased to
announce that it has entered into a binding letter of intent (“LOI”) for the acquisition of all issued and outstanding shares
of Eureka Vapor LLC and all of its subsidiaries (“Eureka”) by North Bud Farms Inc. (CSE: NBUD) (OTCQB: NOBDF)
("NORTHBUD" or the "Company"). EUREKA Vapor is a U.S. multi-state cannabis operator.
Eureka, through its wholly-owned subsidiaries holds Manufacturing and Distribution licenses in the states of California and
Colorado. Eureka manufactures and sells a premium line of disposable vapor pens as well as multi-use cartridge-style vapor pens and
hardware. Eureka has been operating in California and Colorado since 2011 and 2015, respectively, showing significant organic
growth year over year. In 2018, Eureka recognized revenue of approximately CAD$11.5 million* with a net profit margin of 16%* from
its California and Colorado operations. Eureka anticipates further growth in revenue due to anticipated changes to retail
regulation of adult cannabis use in California. Eureka products are currently available in over 100 retail stores. (*all
figures are unaudited). For more information about Eureka Vapor, visit: www.eurekavapor.com.
“Aligning ourselves with NORTHBUD provides Eureka with both exposure to the Canadian public markets as well as the
largest federally legal adult-use market in the world,” says Justin Braune, CEO of Eureka Vapor. “We will be working with the
NORTHBUD team to introduce our product line into the Canadian market for the fourth quarter of 2019 when vape pens will be
permitted.”
“The opportunity to partner with a recognized brand in some of the most developed retail markets in North America
is an exciting development for NORTHBUD,” says Ryan Brown, CEO of NORTHBUD. “We believe that vape cartridges represent a high
margin and high-growth product segment of the market. The Eureka team are proven operators and possess an unmatched product
knowledge which is evidenced by the strong brand loyalty that they have established.”
About North Bud Farms Inc.
North Bud Farms Inc., through its wholly-owned subsidiary GrowPros MMP Inc., is pursuing a licence under The Cannabis Act.
The Company is constructing a state-of-the-art purpose-built cannabis production facility located on 95 acres of Agricultural Land
in Low, Quebec. North Bud Farms Inc. will be focused on Pharmaceutical and Food Grade cannabinoid production in preparation for the
legalization of edibles and ingestible products scheduled for October 2019.
For more information visit: www.northbud.com
About Eureka Vapor LLC.
Headquartered in Los Angeles, California, EUREKA Vapor was founded in 2011 and holds licenses in both California and
Colorado. EUREKA Vapor's multi state operation (MSO) manufactures and sells a premium line of vaporizer cartridges,
disposable vapor pens and proprietary vaporizer batteries designed to work with their highly sought-after CO2 extracted oil.
Using their refined extraction processes and techniques developed over almost a decade of extracting, EUREKA Vapor is committed to
providing the cleanest and safest natural oil cartridges in the industry. Long referred to as one of the leaders in the
industry, EUREKA has one of the most loyal customer bases in the category which reflects their commitment to honesty and
transparency above all else. EUREKA continually looks for innovative ways to improve and refine their product offerings in order to
deliver the best, most consistent vaping experience in the industry.
For more information visit: www.eurekavapor.com
FOR ADDITIONAL INFORMATION, PLEASE CONTACT: sales@eurekavapor.com
Justin Braune justin@eurekavapor.com