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Sproutly Receives Amendment of its License from Health Canada Permitting Sales of Cannabis 2.0 Products Directly to Provinces & Territories

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VANCOUVER, British Columbia–(BUSINESS WIRE)–Oct 15, 2020–

Sproutly Canada, Inc. (CSE: SPR) (OTCQB: SRUTF) (FSE: 38G) (“ Sproutly ” or the “ Company ”) announced today that the Company’s wholly-owned subsidiary, Toronto Herbal Remedies Inc., ( “THR” ), a licensed producer and processor under the Cannabis Act, has received an amended extract sales license from Health Canada (the “ Sales License ”). Under its Sales License, THR is now authorized to manufacture and sell Cannabis 2.0 products directly to provincial distributors and other authorized Canadian retail supply channels. THR’s ability to sell Cannabis 2.0 products allows it to utilize its licensed APP technology and offer the Company’s strain specific cannabis extracts, edible and beverage products in Canada through its existing provincial sales relationships.

“Receipt of our Sales License is one of the Company’s most significant milestones to date as it now provides us with the ability to sell Cannabis 2.0 products incorporating our APP technology in Canada,” said Dr. Sen, CEO & Director of Sproutly. “The APP technology has been advanced by Infusion Biosciences in the United States with industrial hemp; the work completed there will be leveraged in Sproutly’s CALIBER branded products, as well as through partners and 3 rd party brands. We expect Canadian customers will be pleased with our edible and beverage products that can reliably and consistently deliver the total experience of advanced cannabis genetics.”

About Sproutly Canada, Inc.

Sproutly’s core objective is to become the leading supplier of unique ingredients and customized formulations to the cannabis beverage and edibles market. Our water-soluble Infuz 2 O and BioNatural Oils will deliver revolutionary brands to international markets that are striving to produce differentiated consumer products. Sproutly’s business focus is to execute on partnerships with local and globally established consumer brands to leverage their existing customer bases, further expand brand loyalty, assist with marketing, and support distribution networks to deliver this scientific breakthrough with speed and efficiency worldwide.

For more information on Sproutly, please visit: www.sproutly.ca.

Forward-Looking Statements

Cautionary Note Regarding Forward-Looking Statements: This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws or forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to future events or future performance and reflect the expectations or believes regarding future events of management of Sproutly. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. This information and these statements, referred to herein as “forward‐looking statements”, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management’s expectations and intentions with respect to, among other things, timing relating to the Company’s ability to launch and supply its CALIBER branded products in Canada; and the Company’s development and launch of its Cannabis 2.0 products.

These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These assumptions, risks and uncertainties include, among other things, the Company’s inability to launch or supply its CALIBER branded products in Canada; the Company’s inability to develop and launch its Cannabis 2.0 products; potential negative consumer, investor or public perception of the Company’s ‘CALIBER’ branded products in Canada; changes in consumer preferences and product trends; and political, legal and regulatory uncertainty relating to cannabis products generally. In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, that the Company will launch its CALIBER branded products in Canada; that the Company’s ‘CALIBER’ branded products will be positively received by consumers in Canada; and that the Company will continue to develop and launch its Cannabis 2.0 products. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

View source version on businesswire.com:https://www.businesswire.com/news/home/20201015006026/en/

Contact: Dr. Arup Sen, Chief Executive Officer and Director of Sproutly Canada, Inc.Email:investors@sproutly.ca

KEYWORD: NORTH AMERICA CANADA

INDUSTRY KEYWORD: FOOD/BEVERAGE ALTERNATIVE MEDICINE HEALTH RETAIL FITNESS & NUTRITION

SOURCE: Sproutly Canada, Inc.

Copyright Business Wire 2020.

PUB: 10/15/2020 04:00 PM/DISC: 10/15/2020 04:01 PM

http://www.businesswire.com/news/home/20201015006026/en

The post Sproutly Receives Amendment of its License from Health Canada Permitting Sales of Cannabis 2.0 Products Directly to Provinces & Territories appeared first on CannabisFN.

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