Tickers: XTSX:GYSR, PINX:GYSRF
Tags: #Lifestyle, #Cannabis
June 24, 2020 - TheNewswire - VANCOUVER, BC - Geyser Brands Inc. (TSXV:GYSR) (OTC:GYSRF) ("Geyser Brands" or the "Company") is pleased to announce a strategic partnership with Grow Academy Technologies (Grow Tech Labs) to help pre-legalization cannabis companies make the transition to the legal space.
Vancouver-based Grow Tech Labs began with a notion to bring British Columbia's thriving pre-legalization industry into the regulated market. Grow Tech Labs works to create space for new ideas with a focus on developing plant-based medicines and the markets for their promotion.
"We recognize the economic opportunity these businesses offer communities across B.C., and Geyser provides a clear path to get to the market," notes Grow Tech Labs founder Barinder Rasode. "The Geyser team matches Grow Tech Labs' values and we look forward to supporting the industry together in the future."
Grow Tech Labs is partnering with Geyser Brands Inc. ("GBI") - which just received its sales license on June 19 - to further its commitment to help pre-legalization cultivators, processors and brands enter the regulated industry.
"Geyser Brands is a strong partner, bringing its manufacturing and sales license to further support and pave a path for pre-legalization companies to enter the legal marketplace," Rasode adds. "There are large barriers for pre-legalization companies into the Cannabis Act including structure, trust, quality and more. Our partnership provides a trustworthy and dependable platform that respects the products, brands and philosophies of these companies."
GBI is a Vancouver-based company that develops and invests in health and wellness brands that use cannabis as a value-added ingredient. It owns a licensed production facility with cultivation, processing, research and sales licenses and has a strong focus on working with and supporting small and craft cannabis companies.
As part of the partnership, Grow Tech Labs will combine its leadership, reputation and network (including the B.C. Craft Cannabis Co-op), with Geyser's LP, in which it can manufacture, package and distribute to provinces and medical patients.
The first venture the new partnership will be working with is a cannabis edible company.
"Our goal is to provide a path for brands into the legal cannabis industry," comments Andreas Thatcher, CEO of Geyser Brands. "The pre-legalization market in Canada is in the billions. With Grow Tech Labs as our partners, we believe we are presenting a unique opportunity for this market to find solid ground."
Through the partnership a variety of services will be offered including branding and marketing direction (for compliance); professional formulation services; GMP manufacturing; advocacy; distribution to provinces; direct-to-consumer through medical sales; as well as business strategy and development.
Grow Academy Technologies (Grow Tech Labs) was formed to help reaffirm British Columbia's status as a global cannabis capital by attracting a new and diverse generation of sector leaders from across Canada and around the world through the delivery of world class programs that are rooted in innovation, entrepreneurship and mentorship. Since its inception, Grow Tech Labs has been committed to advocating for policy change to help support and transition pre-legalized cannabis growers and brands into the legal framework.
For more information, visit growtechlabs.com.
Geyser Brands Inc. develops consumer product brands in the health and wellness sector that use hemp and CBD as a value-added ingredient. These involve next-generation formulas that focus on the mix of cannabinoids for specific conditions such as insomnia, anxiety and pain. Proprietary delivery technologies include all natural nano-technology, slow-release mechanisms and non-molecule degrading baking processes. In anticipation of coming edibles legislation, and with its Health Canada approved Licensed Production Facility, Geyser Brands has 15,000 square feet in two GMP facilities in Vancouver, BC.
For more information, visit the company's website at geyserbrands.com or call 604 773 0242
On Behalf of the Board of Directors
Director and CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. Forward-looking statements and information are often, but not always, identified by the use of words such as "appear", "seek", "anticipate", "plan", "continue", "estimate", "approximate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "would" and similar expressions.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with the marijuana industry in general such as operational risks in growing; competition; incorrect assessment of the value and potential benefits of various transactions; ability to access sufficient capital from internal and external sources; failure to obtain required regulatory and other approvals and changes in legislation, including but not limited to tax laws and government regulations. Accordingly, readers should not place undue reliance on the forward-looking statements, timelines and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information relating to Geyser is available at www.sedar.com.
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