EuroLife Brands Provides Corporate Update on Strategic Initiatives
High-Level Board Appointments, Strategic Acquisitions and International Roadshows
Among Activity in First Few Months Under New Banner
TORONTO, Oct. 3, 2019 /CNW/ - EuroLife Brands Inc. ("EuroLife" or the "Company") (CSE: EURO) (Frankfurt: 3CM) (OTCPK: CANVF), a leading global markets cannabis brand empowering the medical, adult-use and CPG cannabis industry, is pleased to announce significant developments in its mission to become a leader in the CPG CBD market focused on European and South American audiences. EuroLife is also pleased to share recent company updates across a series of initiatives and strategic partnerships.
"With continued forward progression in our activities since our rebrand to EuroLife Brands we have been aggressive in taking advantage of our deep connections in various CPG Brand industries suitable for CBD infusion," said Steve Loutskou, Chief Operating Officer,
Global Markets, EuroLife Brands Inc. "We continue to drive company success across Europe and South America with potential investment and brand partners while vetting out strategic opportunities to expand business and increase shareholder value."
In July, the Company obtained the exclusive licensing rights for the marketing, development, and revenue-based distribution of True Focus' premium product regarded as a 'THC Antidote' aimed at mitigating the effects of THC overconsumption. Eurolife holds the proprietary intellectual portfolio across select markets throughout Europe and South America. True Focus' all natural, nutraceutical formulations are delivered via an oral spray treatment. EuroLife Brands plans to expand the True Focus brand into strategic and revenue deriving emerging regions where CBD is legal through existing and upcoming product distribution networks.
That same month, EuroLife set up its South American headquarters in Medellin, Colombia. Ripe for investment with 600 million potential customers, low-cost agricultural exports and growing acceptance to legalizing cannabis, South America's cannabis industry is projected to grow to $12.7B USD by 2028, with approximately $8.5B USD of the market value to come from medical cannabis alone, according to research by Prohibition Partners.
August saw Eurolife announce the formation of a new Veterinary Advisory Board to guide content for its product oriented Hemp and CBD Pet Platform aimed at the emerging US animal product market, led by award-winning Toronto veterinarian Dr. Scott Bainbridge. We also saw two new culinary-focused appointments to its Cannabis Sciences Advisory Board: award-winning cookbook author Pat Crocker to guide consumers in purchasing the appropriate cannabis products as they experience culinary-based CBD and THC recipes. As well as the appointment of Portland Oregan's own Carlton Bone, founder of the successful business entity Upward Cannabis Kitchen. These two additions will greatly advance the recreationally focused Culinary Kitchen section of Eurolife's platform geared at allowing consumers in recreational markets to make safe and informed decisions around the use of CBD and THC products.
In September, EuroLife appointed Alan Cooke to its advisory board. The former Regional General Manager, Growing Operations, Western Canada for Canopy Growth Corporation (TSX: WEED), (NYSE: CGC) ("Canopy Growth"), Mr. Cooke spent the last 2 1⁄2 years managing over four million sq. ft. of cultivation operations across Canada and helped propel the company to its current USD $12.5B market cap on the TSX and USD $9.42B market cap on the NYSE.
EuroLife also officially launched its first international cannabis education platform for the German market, the biggest international medical cannabis market outside of North America and one expected to grow to $2.7 billion by 2023 according to research by the Brightfield Group. Globally accessible at Cannvas.de, the German platform mirrors the North American success of Cannvas.Me and offers the same physician-backed and educator-approved cannabis articles and learning modules custom tailored for the German CBD market.
Also in September, EuroLife appointed Mr. Derek Ivany as Chairman of its Advisory Board. Mr. Ivany will focus his efforts on expanding the brand across Europe and South America through mergers, acquisitions and other value enhancing tactical corporate maneuvers. Formerly President, CEO and Director of AgraFlora Organics International Inc. (CSE: AGRA), a growth-oriented and diversified company focused on the international cannabis industry, Mr. Ivany helped propel AgraFlora from under $2M in market capitalization to over $250M at its zenith.
"To be a part of what the EuroLife team is building is tremendously exciting, as they plan on being first-movers in an industry on the cusp of explosive growth and ripe for monetization," said Mr. Ivany. "I look forward to leaning on my worldwide network for support and backing as EuroLife and I continue capitalizing on this next phase of European cannabis normalization."
The executive team, along with members of its Advisory Board, focused its efforts solely on vetting European-focused partnerships, mergers, acquisitions and other growth opportunities. October promises the same as Mr. Ivany is working to introduce the Company to his vast and longstanding network of investors spanning the European Union with a specific focus on retail, institutional and family office investors in Germany, UK, Austria, Switzerland, Greece and Portugal.
Continuing high-level discussions with a number of global CBD brands, EuroLife expects to announce new partnerships in short order. Management is also actively meeting with some of the largest cultivators in the EU, as well as renowned CBD extraction companies and other like-minded entrepreneurs in the CBD space. The EuroLife executive team reports productive conversations with organizations providing capabilities such as manufacturing, white labeling, co-packing and distribution, including some with over 50,000 points of distribution around the world.
As EuroLife collects strategic partners and builds mutually-beneficial relationships with suppliers and distributors, it moves closer to its goal of launching a powerful education-based, analytics-backed digital CBD marketplace for the European and South American markets using a framework similar to that of global giants Alibaba and Amazon.
Notably EuroLife Brands completed its name change from "Cannvas MedTech Inc." to better reflect the direction of its business. The Company's trading symbol on the Canadian Securities Exchange (the "CSE") changed to "EURO" and will soon be updated on the OTC Pink Sheets (the "OTCPK") - the trading symbol remains as "3CM" on the Frankfurt Stock Exchange.
About EuroLife Brands Inc.
EuroLife Brands (CSE: EURO) (Frankfurt: 3CM) (OTCPK: CANVF) is a leading global markets cannabis brand empowering the medical, recreational and CPG cannabis industry worldwide.
No stock exchange or securities regulatory authority has reviewed or accepted responsibility for the adequacy or accuracy of this release.
Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Issuer's future plans, objectives or goals, including words to the effect that the Issuer or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on www.sedar.com.
SOURCE EuroLife Brands Inc.
[email protected] or visit EuroLifeBrands.com
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