Rock Creek, B.C. – SpeakEasy Cannabis Club Ltd. (CSE: EASY) (Frankfurt: 39H) (the “Company” or “SpeakEasy”) a holder of a federal licence to cultivate, process and sell cannabis under the Cannabis Act announces it has achieved its registration and licence to distribute product in Saskatchewan. First purchase orders have been received and SpeakEasy will begin shipping under its brand “B.C. Batts” in early April.
Founder Marc Geen, “And we’re off, the first product grown, processed, packaged and sold under our own brand will be on the shelves in Saskatchewan this April, whereby we will have products proudly marketed through The Weed Pool Cannabis Co-operative. Another huge milestone achieved this year in a year that will expect to see many. Saskatchewan is a perfect province to launch for several reasons, the amazing people at Sask Depot being one of the major ones. Working with Sask Depot and the Weed Pool Cannabis Co-operative has been fantastic, their knowledge of the industry is impressive and they have helped us transition into sales seamlessly. Saskatchewan is the first province SpeakEasy will move into, with the next two provinces expected to follow within the next 30 to 60 days.”
SpeakEasy intends to enter the market in direct competition with the lowest priced per gram Pre-Roll in Saskatchewan
SpeakEasy has achieved a sales licence to distribute into the province of Saskatchewan and will begin shipments early April. Pre-Rolls and flower from our outdoor fields will be the first products SpeakEasy enters into the market, in direct competition with the lowest-priced per gram Pre-Roll in Saskatchewan, to be sent to market. Saskatchewan is a very competitive, maturing market that has high-quality and low- price demands. SpeakEasy will be entering the market with what we believe to be, a very high-quality product and directly competing with the lowest-price per-gram Pre-Rolls available on the market.
Direct to market
Due to the recent amendment to its sales licence, SpeakEasy is now licenced and built-out with its own supply and able to ship finished products directly to market, handling each and every step from seed to sale. Handling all steps in-house reduces cost and allows entry into Saskatchewan and other provinces with a low-cost model, enabling SpeakEasy’s goal of becoming a price disruptor in every market it enters possible. Having low-cost input material, combined with cost-effective, in-house processing and packaging, it is projected, based on current industry prices, to enable SpeakEasy to be one of, if not the lowest-cost producer in Canada. Having the quality of material SpeakEasy has currently in its inventory, allows the Company to create any value-added product currently on the market at a quality level it believes is among the highest and at a price point that will be among the lowest, based on cost of goods models.
Marc Geen further states, “Having the positive, enthusiastic feedback we have received from our flower being sold in BC and Alberta so far, is very encouraging and I look forward to much more of the same in the future. Getting the SpeakEasy name out on the market is a massive step for us and the importance of it can- not be over-stated.
Based on our production estimates and current stock, SpeakEasy has the size and volume of product necessary to distribute nationally, we believe we have the quality and diversity of products needed to create a strong following. The authentic connection to the legacy market and geneses story has created true fans of the SpeakEasy brand, our goal is to become a recognized national brand in Canada and I believe we have all the pieces we need to do it.”
About SpeakEasy Cannabis Club Ltd.
SpeakEasy Cannabis Club Ltd. holds a cultivation, processing and sales licence issued by Health Canada under the Cannabis Act. SpeakEasy owns 290 acres of land in Rock Creek, British Columbia, and leverages five generations of farming experience in B.C. as well as its favourable location to grow and process high- quality cannabis products at low cost. SpeakEasy cultivates small batch, high quality craft cannabis atscale in a portion of its 63,200 square foot indoor cannabis complex and has completed its harvest of its 60- acre outdoor field. Total yearly production of cannabis flower and biomass is projected to be in excess of 70,000 kilograms per year once in full production.
On behalf of the Board of the Directors
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Forward Looking Statement
This news release contains statements that constitute “forward-looking statements.” Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause SpeakEasy’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.
Forward-looking statements in this document include statements concerning SpeakEasy’s expectations concerning the timing of its first shipments to Saskatchewan; it expectations concerning the timing of sales in Alberta and British Columbia; its expectations concerning the cost of its pre-rolls and the competitiveness of such pricing; its expectation that it will become a price disruptor in every market it enters; its projection that it will be a lowest-cost producer in Canada; its expectations regarding the quality and diversity of products; its intent to produce and sell high quality craft cannabis, and all other statements that are not statements of historical fact.
Although SpeakEasy believesthe forward-looking information contained in this newsrelease isreasonable based on information available on the date hereof, by their nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. By their nature,
these statements involve a variety of assumptions, known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such statements.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; COVID-19, adverse industry events; future legislative and regulatory developments involving cannabis; the Company’s ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; the cannabis and hemp industries and markets in Canada and generally; the demand for CBD distillate, cannabis and cannabis related products, the ability of SpeakEasy to implement its business strategies; competition; the ability of SpeakEasy to obtain and retain all applicable licences under the Cannabis Act and other assumptions, risks and uncertainties.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
The Canadian Securities Exchange has not approved nor disapproved the contents of this news release.