Ottawa, ON – TheNewswire – April 26, 2022 – Molecule Holdings Inc. MLCL EVRRF (“Molecule” or the “Company“), a Canadian craft-focused cannabis beverage production company, is pleased to announce that they have received the amendment to their Health Canada processing license, authorizing the activity of sale of cannabis extracts, beverages, edibles, and topical products. Commonly referred to as “a sales amendment”, this application was submitted on August 29, 2021. After rigorous review with Health Canada, we are thrilled to have successfully completed this process.
The addition of this sales amendment now allows for the Company to sell directly to the provinces, thereby opening the door to a number of potentially significant advantages and opportunities for the business including:
A direct savings on commissions currently being paid for by the use of an outside sales amendment arrangement.
The ability to deal directly and build relationships with provinces and territories.
The ability to develop a new and lucrative revenue stream by representing other LP’s or brands looking for representation from a licensed entity.
Commented David Reingold, CEO of Molecule, “Obtaining our sales amendment license was a major regulatory hurdle. We are excited to now have this behind us. The commission savings and opportunity this new license amendment provides is substantial to the business. I am very thankful to the Molecule team for all of their hard work on getting this through to completion.”
For further information, please contact:
André Audet, Chairman and Co-Founder Phone: 1 (888) 665-2853 x101
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 Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this press release.
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. Forward-looking statements in this news release include statements regarding activities following Health Canada’s approval of the application for the sales amendment and the Company’s expectations regarding the addition of the sales amendment; the expected benefits and opportunities for the Company’s business upon receipt of the sales amendment; the Company’s strategic plans regarding national expansion and in store placement; 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. 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.
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