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 is excited to announce it has started preparations for the 2021 growing season with a goal to achieve 100% increase in yield over the 2021 growing season.
SpeakEasy’s 2020 Historical Harvest of 72,000 KG
SpeakEasy’s 2020 harvest was validation of the companies vision, the Geen’s generational agriculture experiences paired with some of the Kootenay’s best cannabis growers was a recipe for success. While many cannabis companies took a different approach, SpeakEasy’s site selection, the favourable climate in Rock Creek, the genetics crafted for the region, and a dedicated farming work ethic yielded a historical 72,000 KG in flower and biomass. The bumper harvest also delivered a quality crop achieving flower potency 15-18 % THC and with an associated cost of production of approximately $0.04/gram. The 2020 harvest was such a success that each of Forbes(1), CBC[2]and Global TV[3], among others, travelled to Rock Creek, a six hour drive from Vancouver, B.C.to report on the harvest. The publication reported with quotes such as “this is agriculture” and “Said to be Canada’s Largest Crop.”
Founder, Marc Geen states, “There are countless steps in preparing and planting a field of cannabis, learning and hopefully improving based on experiences from the previous years is key. We took a huge leap planting our outdoor field last year and learned a ton, we are all excited about taking that success and building off of it to set another record harvest this year.”
How SpeakEasy Plans to Achieve 140,000 KG in 2021
- Plant Density – The 2021 growing season will see a number of changes from the successful 2020 season that management expects will lead to increased yields, including: increased plantingdensity, physically larger plants during planting, additional space utilized and additional varieties.
- Additional Vegging Facilities – Last growing season, SpeakEasy was limited to 3,500 square feet ofusable vegetive grow space. Our preparation space has climbed a staggering 1128% to 43,000 square feet, allowing SpeakEasy to grow larger healthier plants compared to last season.
- Earlier Planting – due to delays in the regulatory process, the Company was forced to start the 2020 planting season later than anticipated. With no anticipated licencing delays or otherobstacles, SpeakEasy is set to start the 2021 planting season right on time.
- Increasing Harvest Efficiency -Using the data collected from last year, SpeakEasy plans to continueoptimization of the different growing styles into the 2021 season to increase yield output efficiency.
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 at scale 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 140,000 kilograms per year once in full production.
On behalf of the Board of the Directors
For more information please contact:
Malcolm Davidson
CEO
1-604-218-9797
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 2021 growing season, including anticipated harvest quantities and the strategies anticipated to be employed by the Company in the 2021 growing season, and its intent to produce and sell high quality craft cannabis, and all other statements that are not statements of historical fact.
[1]https://www.forbes.com/sites/amandasiebert/2020/10/07/from-cherries-to-weed-canadian-farming-family-harvests-60-acres-of cannabis/?sh=398a5fd742cd
[2] https://www.cbc.ca/news/canada/british-columbia/marijuana-cannabis-outdoor-rock-creek-speakeasy-cannabis-company-1.5743385 (3) https://globalnews.ca/news/7315375/bc-cannabis-company-fall-harvest/
Although SpeakEasy believes the forward-looking information contained in this news release is reasonable 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 nor its Regulation Service accepts responsibility for the adequacy or accuracy of this release.
[1]https://www.forbes.com/sites/amandasiebert/2020/10/07/from-cherries-to-weed-canadian-farming-family-harvests-60-acres-of cannabis/?sh=398a5fd742cd
[2] https://www.cbc.ca/news/canada/british-columbia/marijuana-cannabis-outdoor-rock-creek-speakeasy-cannabis-company-1.5743385
[3] https://globalnews.ca/news/7315375/bc-cannabis-company-fall-harvest/