THE GOOD SHROOM RECEIVES APPROVAL FOR ADDITIONAL LISTINGS IN QUEBEC, ALBERTA & PEI
MONTREAL, Feb. 29, 2024 /CNW/ - The Good Shroom Co Inc. (TSXV: MUSH), an emerging Canadian cannabis company, is pleased to announce its expansion plans in Quebec, Alberta and Prince Edward Island.
The Company's diverse product portfolio comprises thirty products with approximately ten key products across four categories, which are integral to its success in Quebec. The Company recently submitted products for approval and received authorization for eight new additions, with four set to become key launches in April/May 2024 (late Q3 into Q4). Product submissions in Quebec occur bi-annually, usually in November and April.
Quebec's market represents over $600 million in annual revenue, supported by 98 retail stores, divided into two supply distribution tiers. The first tier, known as the nursery, accounts for approximately 25% of stores spread across the province. Typically, products undergo a six-month evaluation period in the nursery before transitioning to the second tier, the full planogram, encompassing 100% of stores. New product launches coincide with these transitions, scheduled for April/May 2024 in this instance. Innovations often go directly into all stores. For example, all the Company's innovations, such as beef jerky, ramen noodles, Afghan-infused joints, and more, were introduced directly to the full planogram from day one.
At present, February 2024, the Company's key products in Quebec are distributed, and new products expected to launch, as follows:
Current Full Planogram (February 2024)
- Afghan Gold hash and joints
- Cherry Blossom and Sky Cuddler cannabis flower
- Ramen Noodles, Coated Peanuts, Pepperettes and Beef Jerky edibles.
Current Nursery (February 2024)
- Diesel Haze and Alaskan Thunderfuck cannabis flower
- CBD 50 capsules
- Kenta-Kush infused joints
Upcoming Full Planogram ~ as of late April/May 2024 (Q3/Q4)
- New key listing: Legendary Larry and Ice Cream infused joints as well as THC Cinnamon Apple Cider beverage mix.
- Maintained key listings: Afghan Gold hash and joints, Sky Cuddler cannabis flower, Ramen Noodles, Coated Peanuts, Pepperettes and Beef Jerky.
- Nursery to full planogram: Diesel Haze and Painted Lady cannabis flower.
Upcoming Nursery ~ as of late April/May 2024 (Q3/Q4)
- Critical Kush cannabis flower
- Lemon Skunk and Ghost Train Haze hash
- La Jamaïcaine infused joints
The Company also received approval to list Justin Thunderclap cannabis flower in Alberta, further enhancing its presence in the province, and has received approval from Prince Edward Island to launch its infused Beef Jerky and Pepperettes in early summer 2024.
Eric Ronsse, CEO of The Good Shroom Co Inc., expressed, "We are pleased with the results of this product submission, and although sales are challenging to forecast, we anticipate a notable contribution to our expansion in late Q3 and throughout Q4 of this fiscal year. We are only two years into the cannabis market in Quebec, and we've only just scratched the surface of this over $600 million market. We continue to gain market share, and our brands now enjoy loyalty and recognition among consumers. This approval underscores our competence as a province supplier and our understanding of its consumers. In addition to sales in PEI, Alberta and Ontario, we expect to maintain our growth momentum bi-annually with each Quebec product submission."
The Company operates a portfolio of brands which include traditional cannabis, beverage and edible products.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
This press release contains statements which constitute "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Corporation with respect to future business activities and sales, including the anticipated orders to be placed by the SQDC. Forward-looking statements are often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions. Investors are cautioned that forward-looking statements are not based on historical facts but instead reflect the Corporation's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Corporation believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed thereon, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements. Among the key factors that could cause actual results to differ materially from those projected are the following: market acceptance of the Company's hash and other cannabis products, changes in the vendor's business or strategy, changes in our supplier's operations and pricing, expectations regarding competition and their pricing strategy; maintaining in good standing all necessary regulatory licenses and authorizations for its products; the benefits, safety, efficacy, dosing and social acceptance of cannabis related products and no material changes in the legal environment; changes in applicable laws and regulations compliance with extensive government regulation; operational risks related to and COVID-19 or other pandemic and supply chain disruptions and shortages. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended and such changes could be material. The Company does not intend, and do not assume any obligation, to update the forward-looking statements except as otherwise required by applicable law. Trading in the securities of the Company should be considered highly speculative.
SOURCE The Good Shroom Co Inc.
The Good Shroom Co Inc., Eric Ronsse, President & CEO, [email protected]| website: thegoodshroom.co
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