BevCanna Poised for Rapid Growth in US Recreational Cannabis Market Through Keef Brands Partnership
Infused beverage expert will leverage Keef's extensive American distribution network to launch their house brands into the burgeoning U.S. market
VANCOUVER, BC, Oct. 15, 2020 /CNW/ - Emerging leader in infused cannabis beverages, BevCanna Enterprises Inc. (CSE: BEV) (OTCQB: BVNNF) (FSE: 7BC) ("BevCanna" or the "Company") provided an update today on their partnership with the award-winning Keef Brands. The partnership positions BevCanna very well for rapid growth within the U.S. market, in anticipation of positive federal regulatory reform with the U.S. federal cannabis legalization.
BevCanna's North American agreement with Keef Brands leverages the strengths of both companies to full advantage. BevCanna will act as the exclusive licensee, manufacturing and distribution partner to the award-winning U.S. line of Keef infused beverages for the Canadian market, and the Company will leverage the extensive Keef U.S. manufacturing and distribution network to access the U.S. cannabis market, which includes more than 1,000 dispensaries and delivery services across Colorado, California, Arizona, Nevada, Michigan, Oklahoma, and Puerto Rico.
"This partnership with Keef Brands is a fantastic opportunity for BevCanna," said John Campbell, Chief Strategy Officer for BevCanna. "Keef's robust U.S. manufacturing and distribution network will be a significant asset to BevCanna's expansion plans in the U.S. and BevCanna's expertise in the Canadian infused beverage market will build Keef's Canadian presence. It's a strong combination, with excellent potential for both companies.
Keef Brands currently offers six of the top ten-selling cannabis beverages in Colorado as well as three of the top ten-selling in California1. Keef Brands ranks second in the U.S. in units sold amongst all cannabis beverage companies2. As more clarity develops around cannabis regulations in global jurisdictions, including the U.S., BevCanna will leverage the extensive network that propelled Keef beverages to its position as #2 beverage brand to scale distribution of their ready-to-launch house beverage brands, Anarchist Mountain and Grüv.
Anarchist Mountain and Grüv were developed through BevCanna's decades of experience in the wellness, beverage manufacturing, and consumer packaged goods (CPG) industries, developing products that are designed to appeal to Canadian, U.S. and international consumers. The Anarchist Mountain and Grüv brands focus primarily on the recreational market. BevCanna will also launch the Keef brand across Canada over the next two quarters, with the Anarchist Mountain and Grüv brands soon to follow.
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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 US 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 BevCanna is poised for rapid growth in the US recreational cannabis market through the Keef Brands Partnership; that BevCanna will leverage Keef's extensive American distribution network to launch their house brands into the burgeoning U.S. market; that the partnership positions BevCanna very well for rapid growth within the U.S. market, in anticipation of positive federal regulatory reform with the U.S. federal cannabis legalization; that BevCanna will act as the exclusive licensee, manufacturing and distribution partner to the award-winning U.S. line of Keef infused beverages for the Canadian market, and the Company will leverage the extensive Keef U.S. manufacturing and distribution network to access the U.S. cannabis market; that the partnership with Keef Brands is a fantastic opportunity for BevCanna; that Keef's robust U.S. manufacturing and distribution network will be a significant asset to BevCanna's expansion plans in the U.S. and BevCanna's expertise in the Canadian infused beverage market will build Keef's Canadian presence; the potential for both companies; that as more clarity develops around cannabis regulations in global jurisdictions, including the U.S., BevCanna will leverage the extensive network that propelled Keef beverages to its position as #2 beverage brand to scale distribution of their ready-to-launch house beverage brands, Anarchist Mountain and Grüv; that BevCanna will also launch the Keef brand across Canada over the next two quarters, with the Anarchist Mountain and Grüv brands soon to follow; 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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