NORFOLK COUNTY, ON, Feb. 24, 2021 /PRNewswire/ - Target Group Inc. (OTCQB: CBDY) is pleased to announce that its wholly owned subsidiary, Canary Rx Inc. ("Canary" or the "Company") has completed its first three (3) B2B wholesale cannabis transactions through its strategic joint-venture, Venn Cannabis, marking the beginning of a promising future for the company.
Canary RX, through its joint venture partnership, Venn Cannabis, has been working meticulously to ensure production of ultra-premium, craft cannabis in its Simcoe, Ontario production facility, enabling delivery of its unique genetic offerings and providing a strong platform for other retail brands in the market to build a portfolio of whole flower consumer products. The company is currently in discussions with several additional licenced producers and is very optimistic that over the next year, can establish itself as a leader in contract-based craft cultivation at scale within the Canadian cannabis landscape.
"These transactions represent several strategic revenue opportunities for Target Group through potential partnerships and long-term supply agreements and builds Canary Rx's Canadian wholesale operations," said Tony Zarcone, CEO of Target Group.
About Canary Rx Inc.
Canary Rx Inc. ("Canary") is a Licensed Producer under the Cannabis Act. Situated in Ontario's Garden, Norfolk County, Canary lies nestled amongst the shores of Lake Erie in a vibrant, agricultural community. Our 44,000 sq. ft. facility is engineered to meet strict quality standards and equipped with the latest environmental control technology. The production space includes eight separate flower rooms, projected to produce up to 4,500kg cannabis per year. Canary's talented team will cultivate premium, craft cannabis, while aligning with distinguished, veteran brands to bring the highest quality product to market. www.canaryrx.com
About Target Group Inc. (CBDY) – Target Group Inc. ("Target Group" or the "Company") is a progressive, diversified, and vertically integrated cannabis acquisition company. Target Group is curating an iconic brand portfolio, leveraging product diversification, innovation, and operational expertise to solidify long-term growth and stability. The Company owns and operates Canary RX Inc, a Health Canada licensed producer under The Cannabis Act (Bill C-45), and CannaKorp, makers of the pod-based Wisp™ Vapor technology. Target Group is expanding its global operations to build an international network of manufacturing, distribution, production, and sales operations. www.targetgroupinc.ca
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SOURCE Target Group Inc.