Lev will add product extension of cannabis-infused version of Health Canada approved plant-based, fulvic and humic mineral-infused formula
VANCOUVER, April 9, 2020 /CNW/ - Emerging leader in cannabis-infused innovations BevCanna Enterprises Inc. ("BevCanna" or the "Company") (CSE:BEV, Q:BVNNF, FSE:7BC), is excited to announce the development of a new CBD-infused immune-supporting functional beverage.
The beverage will be launched under BevCanna's health and wellness brand Lev, and the formulation will be based on the popular mineral-infused Tracebeverage, a non-CBD version of the beverage which is already approved by Health Canada and boasts two Health Canada-approved Natural Product Numbers ("NPN"). BevCanna acquired the rights to develop the formulation pursuant to its exclusive license agreement with Naturo Group.
The new beverage will be plant-based, with a fulvic and humic mineral formulation. Fulvic and humic minerals occur naturally in nutrient-rich soils and mineral-dense rock sediments, and their potential health benefits were first recognized centuries ago. Key benefits of the Health Canada approved formulation include cognitive performance, gut health, immune function, and aids the body to metabolize carbs, fats, and proteins.
"We're excited to bring this innovative new beverage to the US and Canadian markets," commented John Campbell, Chief Strategy Officer at BevCanna. "Health and wellness are very much top of mind for consumers today and developing a beverage that is not only appealing to drink, but that also boosts immunity and wellness is a natural fit for BevCanna."
The innovative hemp-derived CBD beverage is currently in the testing stage, with plans to launch in the U.S. this year, and in Canada upon regulatory approval of mineral fortification of cannabis beverages. Anticipated to be offered in both 60ml and 250ml sizes, this Lev product will initially be sold direct to consumer in multi-unit packs in the U.S. The Trace non-infused version of the beverage is currently sold in more than 3,000 retailers across Canada, including 7/11, Loblaws, London Drugs, Metro and Farm Boy, and is expanding into the U.S. market. BevCanna will leverage the significant retail following that Trace has established to market the beverage as regulations permit.
The Company also announces that it has entered into a marketing and investor relations agreement (the "Agreement") dated April 3, 2020 with Aktiencheck.de 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.
The Company and the Consultant maintain an arm's length relationship, and the Consultant does not have any interest, directly or indirectly, in the securities of the Company.
About BevCanna Enterprises Inc.
BevCanna Enterprises Inc. (CSE: BEV, Q:BVNNF, FSE:7BC) 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 fertile Okanagan Valley and the exclusive rights to a pristine spring water aquifer, as well as a world-class 40,000-square-foot, HACCP certified manufacturing facility, with a current bottling capacity of up to 210M bottles.
On behalf of the Board of Directors:
John Campbell, Chief Financial Officer and Chief Strategy Officer
Director, BevCanna Enterprises Inc.
Disclaimer for Forward-Looking Information
Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact are forward-looking statements. Forward looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend", "estimate" or the negative of these terms and similar expressions. Forward-looking statements in this news release include, but are not limited to: that the new beverage will be launched under BevCanna's health and wellness brand Lev, and the formulation will be based on the popular mineral-infused Trace beverage; the new beverage will be plant-based, with a fulvic and humic mineral formulation; the Company plans to launch the beverage in the U.S. this year, and in Canada upon regulatory approval of mineral fortification of cannabis beverages; the Company anticipates that the beverage will be offered in both 60ml and 250ml sizes and will initially be sold direct to consumer in multi-unit packs in the U.S.; that BevCanna will leverage the significant retail following that Trace has established to market the beverage as regulations permit; and the business plans of the Company.
Forward-looking statements are based on certain assumptions regarding the issuances of licences by Health Canada to the Company under the Cannabis Act; a continued high regulatory barrier entry for cannabis-infused beverages; successful and timely commercialization of the Company's products; climate conditions; agricultural conditions; and expectations with respect to the future growth of recreational cannabis products. While the Company considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Readers are cautioned not to place undue reliance on forward-looking statements. The assumptions of the Company, although considered reasonable by it at the time of preparation, may prove to be incorrect. In addition, forward-looking statements necessarily involve known and unknown risks, including, without limitation, the Company not being issued licenses by Health Canada; risks associated with general economic conditions; risks associated with climate and agriculture; changes in consumer preferences; adverse industry events; future legislative, tax and regulatory developments; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the inability to implement business strategies; competition; currency and interest rate fluctuations and other risks. Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. For more information on the risk, uncertainties and assumptions that could cause anticipated opportunities and actual results to differ materially, please refer to the public filings of the Company which are available on SEDAR at www.sedar.com. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect our expectations as of the date hereof, and thus are subject to change thereafter. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law, and the Company does not assume any liability for disclosure relating to any other company mentioned herein.
SOURCE BevCanna Enterprises Inc.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2020/09/c0762.html
For media enquiries or interviews, please contact: Wynn Theriault, Thirty Dash Communications, 416-710-3370, wynn@thirtydash.ca; For investor inquiries, please contact: Luca Leone, BevCanna Enterprises Inc., 604-880-6618, luca@bevcanna.comCopyright CNW Group 2020