Molecule Holdings Inc. Announces Contract Manufacturing Agreement with Leading Cannabis Company

USA - English

LANDSDOWNE, ON, Oct. 3, 2024 /CNW/ - Molecule Holdings Inc. (CSE: MLCL) ("Molecule" or the "Company"), a Canadian craft-focused cannabis beverage production company, is pleased to announce today that it has entered into a contract manufacturing agreement (the "Manufacturing Agreement") with an arm's-length globally-recognized leading cannabis company (the "Client") under which the Company has been granted the right to manufacture, package and supply certain cannabis beverage products to the Client (the "Services"). The Services to be provided under the Manufacturing Agreement will commence for an initial period of two years and may be renewed. The fees payable to the Company will be calculated based on an agreed price per unit, subject to adjustment.

David Reingold, CEO of Molecule, said: "We are thrilled to have completed this agreement and look forward to the efficiencies the increased volume will bring to our licensed production facility. At Molecule, we have always believed that the cannabis industry thrives through collaboration among stakeholders."

About Molecule Holdings Inc.

Molecule is a licensed producer dedicated to creating cannabis-infused beverages for the Canadian market. We produce leading, top-quality drinks to provide opportunity and choice to people seeking a convenient and social way to consume cannabis. Molecule is focused on growing both our portfolio, and the overall cannabis beverage market. We want to ensure people have the best opportunity to find exactly the product and experience they thirst for.

Neither the CSE nor its regulation services provider accepts responsibility for the adequacy or accuracy of this press release.

Cautionary Note Regarding Forward-Looking Statements

This press release contains statements that constitute "forward-looking information" ("forward-looking information") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. In disclosing the forward-looking information contained in this press release, the Company has made certain assumptions. Forward-looking information in this press release includes statements regarding the Manufacturing Agreement and the Services to be provided thereunder, including the term, the Company's future operations and opportunities within the cannabis sector, and the Company's ability to produce cannabis-infused beverages for the Canadian beverage market to provide opportunities for people to consume cannabis. In disclosing the forward-looking information contained in this press release, the Company has made certain assumptions.

The Company's actual results could differ materially from those anticipated in this forward-looking information as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, and other factors, many of which are beyond the control of the Company. Additional risk factors can also be found in the Company's current MD&A, which has been filed on SEDAR+ and can be accessed at www.sedar.com.

The Company believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Any forward-looking information contained in this news release represents the Company's expectations as of the date hereof and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.

SOURCE Molecule Holdings Inc.

For further information, please contact: André Audet, Chairman and Co-Founder, Phone: [phone] x101, Email: [email protected], www.molecule.ca