BevCanna Finalizes Line-up and NNCP forms for the Launch of Keef and Cali-Bloom Products in Canada
Anticipates Q1-21 launch for the highly anticipated beverage and distillate vape lines
VANCOUVER, BC, Oct. 29, 2020 /CNW/ - Emerging leader in infused cannabis beverages, BevCanna Enterprises Inc. (CSE: BEV) (OTCQB: BVNNF) (FSE: 7BC) ("BevCanna" or the "Company") is pleased to announce that it has completed its first round of product launch discussions with select provincial buyers throughout Canada. During these in-depth product launch discussions, BevCanna validated its strategy of delivering established U.S. brands to Canadian consumers. Initial provincial feedback has enabled BevCanna to finalize its award-winning lineup of Keef Beverages and Cali-Bloom products, allowing the team to complete the Notice of New Cannabis Product Forms ("NNCP").
"We received excellent feedback from our initial discussions with cannabis 2.0 provincial buyers across the country on both our Keef and Cali-Bloom product lines," said John Campbell, Chief Strategic Officer for BevCanna. "Based on this input, we've now streamlined our offerings to align with consumer tastes and provincial product demand forecasts. We've also completed the required NNCP forms for the branded products, allowing us to register them with Health Canada and commercialize them as early as 60 days from submission."
The initial Keef line-up will include three Keef Classic Sodas; Original Cola, Bubba Kush Root Beer and Orange Kush, as well as two Keef Sparkling Water Beverages; Raspberry and Blood Orange. The Cali-Bloom range will showcase three distillate vape pens; Pineapple Express (1g), Maui Wowie (1g), K. Louis XIII (1g), and a Live Resin distillate vape pen (0.5g).
This selection of products was chosen to reflect Keef and Cali-Bloom's most popular U.S. products. Both lines are consistent top-sellers in their respective territories. Keef offers six of the top ten cannabis beverages in Colorado and three of the top ten in California, ranking second in the U.S. in terms of units of cannabis beverages sold.
BevCanna is currently in late-stage discussions with a leading Canadian Licensed Producer ("LP") to distribute its products to provincial cannabis distribution boards through the LP's Health Canada issued Sales License. This LP is now in the process of submitting the NNCPs to Health Canada on behalf of BevCanna, thereby allowing BevCanna to launch Keef and Cali-Bloom branded products into the Canadian market in Q1 2021.
BevCanna continues to focus on the product commercialization of Keef, Cali-Bloom and its in-house branded products, as well as those of its white label clients, in anticipation of imminent receipt of its own Standard Processing License; of which the Company will provide further updates accordingly.
About BevCanna Enterprises Inc.
BevCanna Enterprises Inc. (CSE: BEV, OTCQB: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 owns the exclusive rights to a pristine spring water aquifer, access to a world–class 40,000–square–foot, HACCP certified manufacturing facility, with a current bottling capacity of up to 210M bottles per annum. BevCanna also recently acquired U.S. natural health and wellness e-commerce platform Pure Therapy. BevCanna's vision is to be a global leader in infused innovations.
On behalf of the Board of Directors:
John Campbell, Chief Financial Officer and Chief Strategy Officer
Director, BevCanna Enterprises Inc.
Forward-Looking Information
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company, including the statements regarding: that the LP is now in the process of submitting the NNCPs to Health Canada on behalf of BevCanna, thereby allowing BevCanna to launch Keef and Cali-Bloom branded products into the Canadian market in Q1 2021; that BevCanna continues to focus on the product commercialization of Keef, Cali-Bloom and its in-house branded products, as well as those of its white label clients, in anticipation of receipt of its own Standard Processing License; of which the Company will provide further updates accordingly; and other statements regarding 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; future positive legislative, tax and regulatory developments in the United States with respect to cannabis; a continued high regulatory barrier entry for cannabis-infused beverages; successful and timely commercialization of the company's products; successful and timely negotiation of various agreements; 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.
For media enquiries or interviews, please contact: Wynn Theriault, Thirty Dash Communications, 416-710-3370, [email protected]; For investor inquiries, please contact: Luca Leone, BevCanna Enterprises Inc., 604-880-6618, [email protected]
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