Cannabis Global Recaps Fiscal Year End Highlights & Provides Product and Distribution Updates
LOS ANGELES, Sept. 9, 2020 /PRNewswire/ -- Cannabis Global, Inc. (OTC: CBGL) ("Cannabis Global" or the "Company"), a cannabis, cannabinoid and hemp extract science-forward company developing unique infusion technologies and products, today provides a recap of the recently closed fiscal year (Aug. 31st) and offers insight on next steps for the Company as it begins marketing activities.
"It's been approximately one year since we reorganized the Company toward cannabinoid technologies and products," commented CEO, Arman Tabatabaei. "We have made substantial progress in our selected technology areas, and based on these innovations, we have designed a revolutionary set of products, which are now rolling out into the marketplace. I am pleased to offer our investors and the industry the following summary of activities and insight into our direction for this new fiscal year."
Licensed Cannabis Manufacturing and Distribution – On the last day of the Company's August 31st fiscal year end, the Company closed on the acquisition of an 18.8% ownership interest in a fully licensed cannabis manufacturing and distribution business operation located in Lynwood, California operating under the name Natural Plant Extract of California, Inc. ("NPE"). NPE owns a Type 7 California Manufacturing License as well as a California Distribution license. The Company expects that this $2,040,000 acquisition will greatly impact the financial performance of Cannabis Global with increased revenue and assets via its ownership stake. This acquisition represents a strategic horizontal expansion of the Company's core technologies beyond hemp and CBD into California's legal recreational and medical cannabis sectors.
Technology Innovation - During the prior fiscal year, the Company produced multiple technological innovations, which resulted in the filing of six provisional patent applications. The Company believes the most significant of these are new methods to produce highly loaded polymeric nanoparticles, powderization technologies for hemp extract containing honey, and the single-serving tableting technology for beverage infusion. This core technology is used in our signature product lines: the coffee pods and cocktail mixers.
THC-V - Tetrahydrocannabivarian (THC-V) is a little researched exotic cannabinoid with possible benefits relating to weight loss and appetite suppression. During the year, the Company developed new methods to produce nanoparticles of THC-V and other cannabinoids filing provisional patents on both the methods and the particles produced.
Alcohol-Replacement Technology - During the year, the Company developed Hemp You Can Feel technology based on powdered water-soluble preparations developed by the Company. Marketed in cocktail mixers, the Company believes this is the industry's first real alcohol replacement technology. We are in the process of placing the alcohol mixers in a major distribution company to maximize our exposure to customers.
Distribution - Moving into the newly commenced fiscal year, the major emphasis of the Company is expanding distribution channels for the highly innovative product lines. To this end, the Company has recently begun an affiliate marketing campaign and is now offering products on the Amazon and RXLeaf platforms. The Company plans to also begin marketing its alcohol-free cocktail mixers on Amazon with two cocktail mixers SKUs delivered to Amazon this week.
Beverage Dosing Technology – The Company continues its R&D program in the area of tablet technology for single-serving beverages having recently filed a provisional patent relative to these areas. Additional filings are expected over the coming weeks.
New Products - Based on the technology innovations developed through the previous fiscal year, Cannabis Global has developed multiple innovative products with coffee, Kombucha, and cocktail mixer products currently being marketed. Additionally, the Company is in production for both its hemp-based sweetener products and its highly innovative THC-V tea product line.
About Cannabis Global, Inc.
Cannabis Global, Inc., formerly known as MCTC Holdings, Inc., is a fully audited and reporting Company with the U.S. Securities & Exchange Commission, trading with the stock symbol CBGL. The Company is an emerging force in the area of cannabinoid sciences and highly bioavailable hemp and cannabis infusion technologies. The Company does not directly engage in the production, distribution, or sales of any controlled substances, including marijuana. The Company has an actively growing portfolio of intellectual property having filed six patents in the areas of cannabinoid delivery systems and cannabinoid polymeric nanoparticles. The Company markets its consumer products under the Hemp You Can Feel™ brand name. Cannabis Global launched its Project Varin early in 2020, to develop new delivery methods for rare cannabinoid Tetrahydrocannabivarin (THV-C) and to develop products based on this cannabinoid.
About Provisional Patent Filings
Under United States patent law, a provisional application is a legal document filed in the United States Patent and Trademark Office, that establishes an early filing date, but does not mature into an issued patent unless the applicant files a regular non-provisional patent application within one year.
Forward-looking Statements
This news release contains "forward-looking statements" which are not purely historical and may include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as "anticipate", "seek", intend", "believe", "estimate", "expect", "project", "plan", or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects, the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations regarding the use and development of cannabis-based products. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-k, registration statements on Form S-1, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission. For more information, please visit www.sec.gov.
For more information, please contact:
Arman Tabatabaei
[email protected]
+1-(310)-986-4929
Public Relations:
Tiger Global Marketing & Branding Agency
[email protected]
www.TigerGMP.com
SOURCE Cannabis Global, Inc.
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