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VANCOUVER, Sept. 24, 2019 /CNW/ - Geyser Brands Inc. (formerly Kanzen Capital Corp.) (TSX-V: GYSR) ("Geyser Brands" or the "Company) is very pleased to announce the receipt of their Natural Product Number (NPN) from Health Canada for their hemp-based pain relief roll-on. Through the issuance of the NPN, Geyser Brands' Solace subsidiary (see press release dated September 18, 2019) is authorized to market and sell their Pain Relief Roll-on as a natural health product through the Apothecary Naturals line of products. Licensed products have been assessed by Health Canada and found to be safe, effective and of high quality under their recommended conditions of use.
According to the Allied Market Research, the global topical pain relief market garnered $7.48 billion in 2017, and is expected to reach $13.28 billion by 2025, growing at a CAGR of 7.4% from 2018 to 2025. With distribution through traditional retailers and direct-to-consumer, products are expected to hit shelves in October, 2019.
The Solace subsidiary carries the Apothecary line of brands including:
"Receiving our NPN supports our vision to develop and build brands based on trust and credibility in an emerging but heavily regulated industry. Our continued focus on natural, healthy ingredients along with world-class formulations has been recognized with this NPN and we look forward to rolling these out in Canada as a first step in building a global presence", stated Geyser Brands Chairman, Brad Kersch. "We have over 15,000 square feet of GMP-rated manufacturing space and our plans are to increase our capacity significantly in preparation for the next growth phase in the cannabis space", he added.
Solace was also granted a Site License from Health Canada for its Coquitlam operations. The site licence holder, indicates sites that have been authorized to manufacture, package, label and/or import natural health products by Health Canada.
About Geyser Brands
Geyser Brands develops consumer product brands that use hemp and CBD as a value-added ingredient. These involve next-generation formulas that focus on the mix of cannabinoids for specific conditions such as insomnia, anxiety and pain. Proprietary delivery technologies include all natural nano-technology, slow-release mechanisms and non-molecule degrading baking processes. In anticipation of coming edibles legislation, and with its Health Canada approved Licensed Production Facility, Geyser Brands has 15,000 sqft in two GMP facilities in Vancouver for edibles.
For more information, visit Geyser Brands' website at www.geyserbrands.com.
On Behalf of the Board of Directors
"Andreas Thatcher"
____________________________________
Andreas Thatcher
Director and CEO
andreas@geyserinc.ca
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward‐looking statements or information. Forward‐looking statements and information are often, but not always, identified by the use of words such as "appear", "seek", "anticipate", "plan", "continue", "estimate", "approximate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "would" and similar expressions.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward‐looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with the marijuana industry in general such as operational risks in growing; competition; incorrect assessment of the value and potential benefits of various transactions; ability to access sufficient capital from internal and external sources; failure to obtain required regulatory and other approvals and changes in legislation, including but not limited to tax laws and government regulations. Accordingly, readers should not place undue reliance on the forward‐looking statements, timelines and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information relating to Geyser is available at www.sedar.com.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE Geyser Brands Inc.
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