VANCOUVER, Jan. 29, 2019 /PRNewswire/ - Geyser Brands Inc. (TSX-V: GYSR) (the "Company") announces that the Company has planted it first crop under Heath Canada's license to cultivate. (the "License")
The Company has planted the two first two test crops required under the License. The first crop is expected to mature by the end of March and will likely be resold to another Licensed Producer. This will be the Company's first of several anticipated revenue streams. The Company plans to concentrate on strains that are high in CBD for deployment in the medicinal market.
The Company introduces Master Grower Trevor McLean, who will oversee growing operations. Trevor's resume includes overseeing grows such as Canopy Growth's BC division. Trevor was responsible for running the post-harvest department, with 100,000 plants to harvest. Trevor is a Master Grower, in the Fraser Valley, with over 17 years experience. Geyser's grow facility is located in Port Coquitlam which is the closest facility to Vancouver.
The Licensing process is a 3-tiered process with the Company awaiting to receive it's Processing and Sales License. The processing license target date is the end of March and will provide the platform to enter the branded Consumer Packaged Goods sector.
The Company came to trade on the TSX Venture Exchange under the symbol "GYSR" at the end of December. The Company is funded and enjoys the lowest market capitalization of any cannabis company with a Health Canada License to cultivate.
ABOUT GEYSER BRANDS
Geyser Brands supports healthy, active lifestyles by planning to deliver innovative hemp CBD products in the Nutraceutical, Cosmetics, Food, Beverage and Pet sectors. Through ongoing R&D investment in Nanofusion, a proprietary all-natural Nano-technology, Geyser will deliver unique formulations with superior bio-availability and water-solubility properties to its retail and export markets. Geyser Brands is a Health Canada Licensed Producer in Port Coquitlam, British Columbia.
On Behalf of the Board of Directors
Director and CEO
THIS NEWS RELEASE, PROVIDED PURSUANT TO APPLICABLE CANADIAN REQUIREMENTS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS ABSENT REGISTRATION OR APPLICABLE EXEMPTION FROM REGISTRATION REQUIREMENTS.
Cautionary and Forward-Looking Statements
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.
SOURCE Geyser Brands Inc.