CALGARY, AB, Jan. 14, 2025 /CNW/ - Canadabis Capital is thrilled to announce a momentous milestone in the history of Stigma Grow with the successful shipment of its premium cannabis products to Portugal. This significant event marks Stigma Grow's first international export, opening new doors for growth and expansion in the European market.
The shipment, which includes a selection of Stigma Grow's renowned cannabis products, showcases the company's commitment to quality and innovation in the cannabis industry. With a focus on sustainable cultivation practices, Stigma Grow has established itself as a leader in the Canadian market, and this international venture is a testament to the brand's dedication to meeting the evolving needs of consumers worldwide.
"This is a historic moment not only for Stigma Grow but for Canadabis Capital as a whole," said Travis Mcintyre, CEO of Canadabis Capital. "Our successful entry into the Portuguese market is a reflection of our hard work, strategic planning, and the unwavering support of our partners and stakeholders. We are excited to introduce our high-quality products to European consumers and contribute to the growth of the cannabis industry in Portugal."
Portugal has emerged as a key player in the European cannabis market, with a growing demand for high-quality products. Stigma Grow's commitment to excellence aligns perfectly with the evolving preferences of Portuguese consumers, who are increasingly seeking premium cannabis options.
The first shipment to Portugal not only highlights Stigma Grow's innovative product line but also underscores the company's vision of expanding its global footprint. With this initial export, Canadabis Capital and Stigma Grow are poised to explore further international opportunities, reinforcing their position as industry leaders.
As Canadabis Capital and Stigma Grow embark on this new chapter, the company remains dedicated to its core values of quality, sustainability, and community engagement. Moving forward, Canadabis Capital aims to establish strong partnerships in Portugal and beyond, ensuring that their products are accessible to consumers who prioritize quality and responsible sourcing.
ABOUT STIGMA GROW
Stigma Grow is a cutting-edge cannabis cultivation and extraction company positioned advantageously to meet the unmet market demands and stigmas within the legal cannabis industry head on, with products designed to disturb the status quo and dramatically shift the conversation surrounding Canada's legal cannabis industry.
CAUTIONARY STATEMENTS Non-GAAP Measures
This news release contains the financial performance metric of Adjusted EBITDA, a measure that is not recognized or defined under IFRS (a "Non-GAAP Measure"). As a result, this data may not be comparable to data presented by other cannabis companies. For an explanation and reconciliation of Adjusted EBITDA to related comparable financial information presented in the Financial Statements prepared in accordance with IFRS, refer to the MD&A for the three months ended October 31, 2023. The Company believes that Adjusted EBITDA is a useful indicator of operational performance and is specifically used by management to assess the financial and operational performance of the Company.
Adjusted EBITDA is a measure of the Company's financial performance. It is intended to provide a proxy for the Company's operating cash flow and is widely used by industry analysts to compare CanadaBis to its competitors and derive expectations of future financial performance of the Company. Adjusted EBITDA increases comparability between comparative companies by eliminating variability resulting from differences in capital structures, management decisions related to resource allocation, and the impact of fair value adjustments on biological assets, inventory, and financial instruments, which may be volatile on a period-to-period basis. Adjusted EBTIDA is not a recognized, defined, or standardized measure under IFRS. The Company calculates Adjusted EBITDA as net income (loss) and comprehensive income (loss) excluding changes in fair value of biological assets, change in fair value of biological assets realized through inventory sold, depreciation and amortization expense, share-based payments, and finance costs.
Regarding Forward-Looking Information
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include but are not limited to statements with respect to our business and operations; timing of the Sundial products coming to market; the demand and market for live-resin vape cartridges, and our general business plans. Forward-looking statements are necessarily based upon a number of assumptions including: the ability of the Company's products to compete with the pricing and product availability on the black-market; the market demand for the Company's products; and assumptions concerning the Company's competitive advantages. These assumptions, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward- looking statements. Such factors include, but are not limited to: compliance with extensive government regulation, the general business, economic, competitive, political and social uncertainties; ability to sustain or create a demand for a product; requirement for further capital; delay or failure to receive board, shareholder or regulatory approvals; the results of operations and such other matters as set out in the Company's continuous disclosure on SEDAR at www.sedar.com. 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. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although we believe that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have a material adverse effect on our future results, performance or achievements.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
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.
SOURCE CanadaBis Capital Inc.
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