OFFICIAL WEBSITE: https://sproutly.ca Social Media: Twitter: https://twitter.com/sproutlycanada Facebook: https://www.facebook.com/sproutlycanada/ Meet Sproutly:
Sproutly’s core mission is to become the leading supplier to the cannabis beverage and consumables market. Our Toronto based, ACMPR licensed facility was built to cultivate pharmaceutical grade cannabis to supply a technological breakthrough in producing and formulating the first natural, truly water-soluble cannabis solution. Our water-soluble ingredients and bio-natural oils will deliver revolutionary brands to international markets that are clamouring for well-defined commercial 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.
Toronto Herbal Remedies is a Licensed Producer under the ACMPR and wholly owned subsidiary under Sproutly.
Infusion Biosciences Inc. is a biotech company focused on discovering and commercializing innovative, science-based cannabis technologies.
With Infusion’s breakthrough scientific discovery and technologies, the Company is positioned to be a leader in:
1. Cannabis beverage/drink industry for recreational and medicinal markets
2. Pharmaceutical drug development focused on water soluble cannabinoids
We have created and produced two new disruptive and foundational finished cannabis ingredients derived from our patent-pending, Aqueous Phytorecovery Process (“APP”):
First truly water-soluble cannabis solution to be formulated into beverages/drinks (“Infuz2O”)
Cannabinoid oils infused into natural edibles or transdermal delivery while retaining strain specific characteristics (“BNO”)
Sproutly Canada Inc. Announces Completion of Reverse Takeover Transaction and Conditional Approval to Commence Trading on July 9, 2018
Sproutly Canada, Inc. (formerly Stone Ridge Exploration Corp.) (“Sproutly Canada" or the “Company”) is pleased to announce that it has closed the previously announced proposed plan of arrangement under the Canada Business Corporations Act (the “Arrangement”) pursuant to which, among other things, Sproutly, Inc. ("Sproutly") completed a reverse takeover of Stone Ridge Exploration Corp. (“Stone Ridge”).
Immediately prior to the completion of the Arrangement, Stone Ridge completed a consolidation of its issued and outstanding common shares on the basis of one post-consolidation share for every two pre-consolidation shares. Pursuant to the Arrangement, among other things, shareholders of Sproutly received approximately two (2) post-Consolidation common shares of Stone Ridge in exchange for each common share of Sproutly held by such shareholder immediately prior to the effective time of the Arrangement. As a result of the Arrangement, former shareholders of Sproutly hold approximately 84% of the issued and outstanding common shares of the Company (the “Sproutly Shares”) immediately after completion of the Arrangement. The Company will continue the business of Sproutly.
Sproutly Closes Acquisition of Infusion Biosciences Canada and SSM
VANCOUVER, B.C., August 1, 2018 – Sproutly Canada, Inc. (CSE: SPR) (FRA: 38G) (“Sproutly" or the “Company”) is pleased to announce that it has completed the acquisition of all of the issued and outstanding shares of Infusion Biosciences Canada Inc. (“Infusion Biosciences Canada”) and SSM Partners Inc. (“SSM”) (collectively, the “Acquisition”).
“We are extremely excited to finalize this Acquisition, enabling Sproutly to commercialize the APP Technology in major regulated markets around the world with innovative cannabis products that target the $50+ billion bottled water and functional beverage market with naturally water soluble molecules from cannabis and hemp”, commented Keith Dolo, Chief Executive Officer of Sproutly. Mr. Dolo added, “APP Technology is a low-cost, gentle method to produce Infuz20, a ground-breaking discovery that delivers the total effects of the strain of cannabis from which it is made; on-set effects start within approximately 5 minutes and dissipate within approximately 90 minutes.”
“Combining with Sproutly allows Infusion Biosciences to produce and sell innovative consumer products in several countries where cannabis use is legal. Together, we are positioned to leverage our APP Technology to become a leader in the beverage industry and broaden the consumer base with products that will deliver controlled doses that meet expectations for cannabis experiences”, said Dr. Arup Sen, Chief Executive Officer of Infusion Biosciences Inc. (“Infusion Biosciences”). “As a natural water solution, Infuz2O is the best means to deliver the medicinal benefits of cannabis to patients suffering from symptoms associated with major chronic diseases like cancer and pain”, added Dr. Sen.
The Acquisition brings together a strategically located premium cultivation facility and a key technologic innovation in the cannabis industry. Some key Acquisition highlights are:
- Significant Discovery and Recovery of Naturally Water Soluble Cannabinoids – Infusion Biosciences has discovered and produced naturally water soluble bioactive molecules that deliver the full experience of cannabis paralleling the onset and offset profiles of smoking but, avoids the undesirable features that have kept a vast majority of consumers away.
- Broadens Sproutly’s Management Team – The addition of Dr. Sen and Mr. Marcellino to Sproutly’s executive management team provides decades of experience in biopharmaceutical research, development, and technology commercialization. Dr. Arup Sen will also be joining the Board of Directors.
- Positions Sproutly to Become a Leader in Beverages, Edibles and Tinctures –Sproutly is now positioned to fulfill its mission as a vertically integrated cannabis consumer products company focused on redefining the cannabis industry with a clear focus on beverage and additional consumer products by solving the technologic limitations associated with blending oils extracted by traditional means into water.
- Exclusive License for Key Regulated Recreational and Medicinal Jurisdictions –Sproutly gains the exclusive rights for APP Technology in Canada, the European Union, Australia, Israel, and Jamaica.
- Low Cost, Scalable, Gentle Process to Produce Bioactive Molecules as an Alternative to Current Oil Extraction Methods – APP Technology is a patent-pending process that uses proprietary combinations of common dietary ingredients to gently recover naturally water-soluble cannabinoids and also the free cannabis oils in natural oils. APP Technology recovers between 85% - 90% of the total bioactive cannabinoids in the plant, distributed between Infuz20 and Bio-Natural Oil.
Pursuant to the share purchase agreement dated July 31, 2018 (the “Infusion SPA”) among Sproutly, Infusion Biosciences Canada, and Infusion Biosciences and the share purchase agreement dated July 31, 2018 (the “SSM SPA”) among Sproutly, SSM Partners, and BNO Holdings Inc. (“BNO”), each of Infusion Biosciences and BNO have received, or are entitled to receive, the following consideration:
a) Infusion Biosciences:
- 36,857,676 common shares of Sproutly (“Sproutly Shares”);
C$4,525,000 cash payment, due within 12 months from closing of the Acquisition and subject to adjustments as set forth in the Infusion SPA; and
an earn-out of up to an additional 14,743,070 Sproutly Shares upon Sproutly achieving certain milestones as set forth in the Infusion SPA;
- CAD$4,975,000 cash payment due within 12 months from closing of the Acquisition or convertible into common shares, subject to adjustments and SSM achieving certain milestones as set forth in the SSM SPA; and
an earn-out of up to 22,114,605 Sproutly Shares upon Sproutly achieving certain milestones as set forth in the SSM SPA.
Overview of Infusion Biosciences Canada and SSM
Infusion Bioscience Canada, through its licensing agreement with Infusion Biosciences, owns the exclusive rights to utilize APP Technology for recreational and medicinal cannabis markets in Canada, Australia, Israel, Jamaica, Germany, and the European Union.
Infusion Biosciences is a biotechnology company focused on the discovery and commercialization of proprietary technologies that provide innovative means to deliver the experience and benefits of cannabis and hemp. Scientists at Infusion Biosciences have discovered the presence of, and developed methods to directly recover (APP Technology), water soluble forms of lipids (oils), including cannabinoids and terpenes, which naturally exist in cannabis plants. Infusion Bioscience Canada is a wholly owned subsidiary of Infusion Bioscience.
APP Technology comprises a patent pending process that uses proprietary reagents to produce two unique ready-to-consume ingredients with the full spectrum features of bioactive molecules from cannabis and hemp plants:
- Infuz2O – Bioactive molecules in their naturally water soluble state recovered in water; and
- Bio Natural Oil – Natural oils from cannabis plants infused into natural carrier oils for edible products and transdermal delivery.
SSM is a management consulting company engaged in research, product formulation, and commercialization of technologies for the cannabis industry. SSM has been tasked by Infusion Biosciences Canada with certain research and management activities related to the APP Technology.
Dr. Arup Sen – Proposed Chief Science Officer and Director of Sproutly
In connection with the agreements to acquire Infusion Biosciences Canada, Dr. Arup Sen will assume the role of Chief Science Officer and join the board of directors of the Resulting Issuer upon closing of the Proposed Acquisition. Dr. Sen’s business career started in the biotechnology and biopharmaceutical industry in 1982. He has managed R&D, intellectual property strategy and corporate development (negotiating and managing licenses and joint ventures) with domestic and international companies (J&J, Biomet, GCC and Tokuyama Soda of Japan, Sandoz/Novartis and others). He also has taken three companies from start-up through public trading and has served as the CEO of public and private companies. He received his Ph.D. in biochemistry from Princeton University. His nearly decade long academic career as a faculty member at the National Cancer Institute (Bethesda, Maryland) and at the Scripps Research Institute (La Jolla, California) focused on cancer research. Dr. Sen has published several dozen papers in top ranking international journals and authored a book on bone diseases. He is an inventor on a number of US patents and numerous international patents and pending patent applications in the fields of cancer therapeutics, bone repair biologics, medical therapeutic devices, and molecular diagnostics.
Paul Marcellino – Proposed Business Development Officer of Sproutly
In connection with the Acquisition, Paul Marcellino will join Sproutly as the proposed Business Development Officer. Mr. Marcellino holds a degree in Chemistry and has served as CEO of an award-winning nutraceutical company focused on innovative cultivation, extraction and product development. Mr. Marcellino brings the ability to not only see opportunity, but also provide strategic operations leadership and networking internationally through research, planning, and execution.
Infusion Biosciences and Trace Research Institute Announce Research Collaboration for Developing Testing Methods for Cannabis Ingredients in Edible and Beverage Products
VANCOUVER, B.C., August 14, 2018 – Sproutly Canada, Inc. (CSE: SPR) (FRA: 38G) (“Sproutly" or the “Company”) is pleased to announce that Infusion Biosciences Inc. (“Infusion Biosciences”), the Licensor of the APP Technology to Sproutly, has entered into a research collaboration agreement with Trace Research Institute, LLC (“Trace”), an independent research company that offers various testing, research, regulatory and consulting services for the cannabis industry in Washington State (US). Sproutly will benefit from the research collaboration as a licensee of the APP Technology from Infusion Biosciences as the Analytical Methods (defined below) are made available in the jurisdictions for which it holds an exclusive license from Infusion Biosciences.
“The development of Analytical Methods is not only a key milestone in the commercial implementation of the APP Technology, but also an answer to a challenge the global cannabis industry faces with accurately measuring cannabinoids when they are formulated into cannabis beverages using methods available today”, said Keith Dolo Chief Executive Officer of Sproutly.
Mr. Gordon Fagras, co-founder of both the Trace Research Institute and Trace Analytics, a certified independent cannabis analytics laboratory in Washington State said, “Over the last several years, the cannabis industry has been faced with the challenge of accurately measuring cannabinoids when they are formulated into beverages. Up to this point most of the products available on the market are usually based on emulsifications, encapsulation, or even ‘nano’ type technology which are largely problematic to analysis as they are highly diluted and likely bound to another compound. Some of these technologies are more robust than others, but the vast majority of these products tend to experience fall out and separation of the cannabis or hemp oils.”
Mr. Fagras further commented: “This is why our research collaboration with Infusion Biosciences is so unique in that the samples are naturally in water solution(s) where, we have seen not seen fallout of any manner so far, and thus we feel they are highly shelf stable. Modifying sample processing and analytical testing with these concentrated water solutions of cannabinoids (and terpenes) should provide us with a unique opportunity to develop analytical methods for cannabis beverages”.
“Phytochemicals such as cannabinoids and terpenes have so far been extracted as free oils from cannabis plants. Analytical methods developed to date for these oil molecules are not useful in measuring the potency of Infusion Biosciences’s “Infuz2O”, the naturally water soluble forms of these molecules produced as water solutions by Infusion Biosciences’s proprietary recovery process known as the APP technology”, said Dr. Arup Sen, Chief Science Officer of Sproutly as well as Co-Founder and Director of Infusion Biosciences. “In order to develop and sell beverage products developed using Infuz2O to deliver the benefits and experiences of cannabis plants, sensitive and robust analytical methods need to be developed”, he added.
Under the Agreement, Infusion Biosciences will supply Trace with naturally water soluble cannabis phytochemicals (“Infuz2O”) produced by Infusion Biosciences’s proprietary APP technology. The research collaboration will focus on developing and validating analytical methods for the detection and measurement of cannabis phytochemicals in water solutions (“Analytical Methods”). Under the Agreement Trace will be granted an exclusive right to use the intellectual property resulting from the collaboration to develop and commercialize analytical testing services used to qualify cannabis/hemp products in the legal jurisdictions in the United States. Infusion Biosciences will retain worldwide rights to the intellectual property for other uses. The companies will work together to enable testing laboratories in other legal jurisdictions in the world.
Sproutly Enters Into Exclusive Technology License With Micronutrient Technologies Inc.
VANCOUVER, B.C., August 22, 2018 – Sproutly Canada, Inc. (CSE: SPR) (FRA: 38G) (“Sproutly" or the “Company”) is pleased to announce that it has entered into an exclusive technology license and use agreement (“License Agreement”) with Minnesota State based, Micronutrient Technologies Inc. (“MTI”) to utilize its proprietary platform known as Minerals in Solution Technology (“MiST”) for use in creating cannabis and hemp based beverages in select jurisdictions around the world. Under the License Agreement, Sproutly will be granted the exclusive right to utilize MiST and its water soluble nutritional minerals to produce enhanced water, beverages, and soluble nutritional mineral supplements that include a cannabis or hemp component for the recreational and medicinal markets. The license is applicable in Canada, Australia, Jamaica, Israel, and all countries that are part of the European Union as of the date of the Licensing Agreement. MiST is a patent-pending technology that produces a 100% water soluble form of multiple minerals (Including calcium, magnesium, zinc, potassium, sodium and trace minerals such as copper, iron, manganese, strontium) on the same molecular platform. MiST offers an unprecedented versatility in formulating unique combinations of micronutrients that address the growing consumer needs for health and wellness in modern lifestyle. MiST produces stand-alone or custom blends of minerals with other micronutrients in water solutions that will fortify a beverage in a single manufacturing step and has proven to be shelf stable in beverages for at least 2 years. The license provides Sproutly with the know-how developed over a decade in designing innovative beverages with multiple nutrients, including nutritional minerals, which are essential for health and wellness.
Overview of MiST:
MiST, based on over 12 years of research and development, is a patent pending technology to produce nutritional minerals in water solutions by a cost-effective and scalable process. The molecular platform of MiST minerals enables beverage manufacturers to create custom combination of multiple minerals at desired proportions that can be used as a “single blend” to manufacture fortified beverages with other micronutrients including plant derived natural compounds. These minerals include: calcium, magnesium, zinc, potassium, sodium and trace minerals (copper, iron, manganese, strontium). MiST is currently commercialized in fortified bottled water and functional liquid supplements. MiST minerals have multiple benefits, which include:
· Providing a more complete and immediate delivery to the body;
· Allowing precise dosing;
· Offering an easily ingestible format; and,
· Delivering in a state where the body does not have to process further to make it available.
MiST produces highly concentrated true water solutions of essentially all nutritional minerals individually, in blends of multiple minerals, and in blends with other micronutrients with compositions that are customized for products targeting different customer bases.
Sproutly Develops Cannabis and Hemp Infused Functional Beverage Portfolio
VANCOUVER, B.C., November 8, 2018 – Sproutly Canada, Inc. (CSE: SPR) (OTCQB: SRUTF) (FRA: 38G) (“Sproutly" or the “Company”) is pleased to announce that it has completed the development and formulation of an initial portfolio of functional beverages with its proprietary naturally water soluble cannabinoids (“Infuz2O”).
The beverages combine recently licensed rights for the proprietary water soluble mineral platform (“MiST Platform”) with Infuz20. The initial portfolio consists of three separate cannabis / hemp infused beverages that provide the following functions: a) Focused Energy; b) Stress relief and Relaxation; and, c) Restful sleep support.
The Company is currently in the midst of medicinal and adult-use brand development, including its functional beverage line. The initial beverages are anticipated to be ready for consumers if and when Health Canada allows consumer beverage products to be legal for sale.
“The focus of the Company has been to develop products that will distinguish our functional beverages from cannabis/ hemp beverages developed by our competitors. Our competitive advantage is to leverage the suite of proprietary water-soluble technologies we have acquired, and create a line of consumer products that taste great and have a functional purpose”, said Keith Dolo, Chief Executive Officer. “Our beverages not only cater to the emerging cannabis market but also to the large, functional beverage market that exists today”, he added.
The functional beverage category is increasingly becoming the popular choice among consumers who are seeking low-calorie, nutrient-dense options as a healthy alternative to traditional beverages. The global functional beverage market is expected to grow at a CAGR of 6.1% to US$93.68 billion by 2019, according to a new study by Grand View Research, Inc.Cannabis in its own right has a long history of being used as a way for users to address wellness and lifestyle needs. Sproutly’s functional beverage formulations address major and growing consumer health and wellness needs for the modern lifestyle.
Sproutly’s strategy is founded on its proven ability to acquire proprietary technologies related to water soluble ingredients. Sproutly is among the first in Canada to address the functional beverage market with cannabis/ hemp ingredients that are recovered from the plants in their naturally water soluble form and, therefore, can be stably combined with other water soluble micronutrients (vitamins, minerals, antioxidants, and other natural plant chemicals). These beverages are fully transparent because all the selected ingredients are truly dissolved in water and, like typical consumer beverages, can be packaged in clear glass bottles and refrigerated if desired for a refreshing taste.
BEVERAGE FORMULATIONS & PRODUCT
The functional beverage formulations have been developed using two proprietary technologies:
1. MiST (Minerals in Solution Technology)– 10+ years of research and development into the creation and formulation of water soluble minerals and phytochemicals; and,
2. Infuz20 – naturally water soluble cannabinoids with onset of less than 5 minutes and offset within 90 minutes.
Sproutly’s functional beverage formulations address a number of lifestyle verticals including: mood & energy, relaxation & sleep as well as stress relief. Its functional beverage formulations utilize MiST and Infuz20 to produce enhanced water, beverages, and nutritional micronutrient supplements that include cannabis or hemp strains strategically selected to provide a synergistic experience for the recreational and medicinal markets.
The Company’s functional beverage products are expected to be its first line of cannabis/ hemp beverage as these have been taken through initial evaluations as consumer beverages by scientists from Infusion Biosciences Inc. and Micronutrient Technologies Inc. These completed evaluations include:
- blending and ratio proportions of ingredients selected based on independent scientific reports on their benefits;
stability testing at room temperature and in refrigerator;
formulation with natural flavors; and,
process development for large scale manufacturing.
The current functional beverage product portfolio (which is expected to launch under a portfolio of brands to be identified at a later date) consists of:
Focused Energy Drink– Formulated to deliver mood uplifting & focused energy without the use for caffeine or stimulants. Containing a blend of minerals, vitamins, natural plant chemicals, natural flavors, and Infuz2O derived from one or more strains of cannabis to complement the experience.
Relaxation Drink– Formulated to deliver relaxation and stress relief. Containing a blend of minerals, natural plant chemicals, natural flavors, and Infuz2O derived from one or more targeted strains of cannabis to complement the experience.
Sleep and Anxiety Relief Drink– Formulated to reduce anxiety and assist restful sleep. Containing a blend of minerals, plant and other natural chemicals, natural flavors, and Infuz2O derived from a targeted variety of hemp to complement the experience.
Marketing of these beverage products will follow additional testing and will be subject to necessary approvals and licenses to be granted by Health Canada and regulatory authorities in other territories.
Sproutly Signs LOI with the Largest Caribbean Medical Cannabis Producer to Establish a Joint Venture to Sell Cannabis Infused Beverages and Oil Products
VANCOUVER, BC, November 13, 2018 – Sproutly Canada, Inc. (CSE: SPR) (OTCQB: SRUTF) (FSE: 38G) (“Sproutly" or the “Company”) is pleased to announce that it has entered into a letter of intent with Global Canna Labs Limited (“Global Canna Labs”), the Caribbean’s largest medical cannabis producer, to establish a joint venture for the purpose of developing, producing, distributing, marketing and selling cannabis infused beverages, edibles and topical products derived from Sproutly’s fully licensed, APP Technology (the “LOI”).
“Partnering with Global Canna Labs on this joint venture allows Sproutly to expand its business outside of Canada with a leading, low cost cannabis cultivator in Jamaica that has proven distribution across the Caribbean and expanding into the European Union,” said Keith Dolo, President and Chief Executive Officer. “This partnership will enable Sproutly to diversify its product portfolio and accelerate its global distribution network from a low-cost regulated jurisdiction.”
Paul Glavine, Chief Executive Officer of Global Canna Labs said, “We are eager to roll out this partnership with Sproutly on their APP technology. We have explored a number of options regarding extraction and cannabis technology solutions for beverage and derivative products – APP Technology is in our view the superior choice for beverage formulations. With our current supply and expansion plans to over 1 million square feet of cultivation, we see this partnership with Sproutly as a step towards utilization of our large-scale production towards a finished-product strategy.”
Proposed Terms of Joint Venture
The joint venture is expected to be structured as a newly formed, jointly owned company with its own board of directors (the “JV”). Sproutly will have a 50% interest and Global Canna Labs will own the remaining ownership interest. Global Canna Labs will be responsible for cannabis biomass production and procurement and day-to-day operations of the JV.
Global Canna Labs is also responsible for all costs relating to producing final products for sale, including any equipment needed to produce beverages, edibles or other cannabis derivatives and will leverage its existing production facility and staff for the JV. These costs will be decided upon by the board along with the determination of the product lines to be produced.
Sproutly will be responsible for providing access to the APP Technology, supplying reagents, and beverage/product formulation capabilities (including its functional beverage formulation portfolio) for products to be formulated from Infuz20 and Bio Natural Oil. The products are expected to be sold in Jamaica and the rest of the Caribbean with potential expansion into additional European countries that allow for the import of cannabis products from Jamaica. The list of jurisdictions and product lines will be finalized and disclosed in the definitive agreement.
The signing of the definitive agreement and establishment of the joint venture is expected to occur in January 2019.
About Global Canna Labs Limited
Global Canna Labs is the Caribbean’s largest medical cannabis producer and the first in Jamaica to be issued a Tier 3 license. Global Canna Labs has its cultivation facility on 6.23 acres with a legal limit of 200,000 cannabis plants. Currently it has 31,000 sqf of greenhouses with an additional 27,000 sqf of expansion planned for its greenhouse operations.
Global Canna Labs operates 220,000 sq.ft. of outdoor cultivation with plans to expand to over 1 million sq.ft. in 2019. Global Canna Labs is strategically located in the city of Montego Bay Jamaica, which is ideal for its proximity to a global logistics hub. Global Canna Labs is currently constructing a 6,000 sq.ft. packing and drying facility to EU-GMP and U-GACP specifications.
The company also accesses a proprietary distribution partnership via its 25% strategic investment in Zimmer and Company, the only pharmaceutical distribution licensed company focused on CBD/THC distribution in the Caribbean with an existing 61 products approved by the Jamaican Ministry of Health for import and export. Currently, Zimmer is in 100 retail locations in Jamaica and now Trinidad.
Sproutly Provides Strategic Update
VANCOUVER, BC, February 13, 2019– Sproutly Canada, Inc. (CSE: SPR) (OTCQB: SRUTF) (FSE: 38G) (“Sproutly" or the “Company”) is pleased to provide a strategic update on the development of its business to date. Sproutly continues to make substantial progress towards its goal of becoming a global cannabis beverage and edibles company.
“Sproutly has made significant progress towards building a world-class cannabis beverage and infused product company since going public in July of last year” said Keith Dolo, CEO and Director. “We have been successful in acquiring the exclusive rights to Infusion Biosciences’ APP technology, in certain jurisdictions, which is able to produce naturally water-soluble cannabinoids that deliver the full experience of cannabis paralleling the onset and offset profiles of smoking. From there, we have made steps to bring in the people and the resources to build a global cannabis branded company focused on beverage and infused products” he added.
Sproutly completed its first two harvests of its premium quality, small batch cannabis at its state-of-the-art Toronto Herbal Remedies (“THR”) production facility in Toronto. The results from the harvest were much better than the Company’s internal production expectations. The Company is hoping to achieve the same production results across all 12 of THR’s flowering rooms in its full-scale production; in the event that this is achieved, the total production capacity at THR will increase materially. This is an important milestone for the Company as it looks to ramp up production and shift into sales and extraction as licensing is granted.
“We are very happy with the results of our first two harvests, which produced highly efficient yields for an initial grow.” Said Bryan Semkuley, President of Sproutly. “This is a tremendous milestone for the company, as these harvests are the first step towards our production objectives. We are on track to meet our calendar 2019 production targets and expect multiple successful harvests as we continue to build on this initial success.”
As a result of the success of the first two harvests, plants are scheduled to be introduced into an additional 10 grow rooms within the next few weeks. The Company is on track to ramp up for full production in calendar 2019 and starting to plant a new room each week moving forward in its perpetual harvest plan.
The Company continues to progress on its operational plan with respect to cultivation and extraction and had met its objectives for calendar 2018. Its ACMPR license has been migrated to the Cannabis Act which now provides the ability to sell cannabis to other licensed producers. Further, as of November 10, 2018, the Company also received license amendments approving all of the remaining 16,600 square feet at the facility for additional grow and operations and cultivation.
On November 1, 2018, the Company announced that has submitted an “addition of activity” in the month of October, to its Health Canada license, in order to produce cannabis oils. Granting of this license amendment will allow for the Company to begin extraction operations and R&D in its THR Facility.
BRAND AND PRODUCT DEVELOPMENT
The Company is currently developing its brand strategy around its high quality, small batch flower and anticipates launching in conjunction with receiving its sales license.
Following the legalization of adult use recreational cannabis in Canada in 2018, cannabis edibles are expected to be legalized later in 2019. As the Company approaches the legalization of edibles and beverages, Sproutly is developing its brand and partnership strategy with respect to APP technology. Sproutly will look to maximize the use of the exclusive Canadian license for APP Technology that it obtained through the acquisition of Infusion Biosciences Canada Inc. APP Technology is a patent-pending process that gently recovers naturally water-soluble cannabinoids as well as natural oils; recovering between 85% - 90% of the total bioactive cannabinoids in the plant.
Sproutly is preparing for the coming launch of cannabis infused beverages in Canada and is contemplating a number of strategies including partnering with existing brands and launching its own portfolio of beverages. The Company has, and continues to be, engaged in discussions with beverage companies on possible partnerships, but cannot guarantee that these discussions will lead to a transaction on terms acceptable to the Company.
Sproutly Announces Joint Venture With Moosehead Breweries To Launch Cannabis-Infused Beverages In Canada
VANCOUVER, BC, April 30, 2019 – Sproutly Canada, Inc. (CSE: SPR) (OTCQB: SRUTF) (FSE: 38G) (“Sproutly" or the “Company”), and OCC Holdings Ltd., an affiliate of Moosehead Breweries Limited (“Moosehead”),are pleased to announce that they have entered into a definitive agreement (the “Joint Venture Agreement”) to form an exclusive joint venture (the “Joint Venture” or the “JV”) to develop, produce, and market non-alcoholic cannabis-infused beverages in Canada using Sproutly’s proprietary, naturally produced water soluble cannabinoids known as ‘Infuz2O’. Both companies will bring their respective strengths to the joint venture to develop a line of great tasting cannabis beverages featuring a rapid onset and offset effect unique to the category. Sproutly will host a conference call with Keith Dolo, CEO, Sproutly Canada and Matthew Oland, Moosehead Breweries executive and incoming CEO of the JV, at 9:30am Eastern Time on May 1, 2019.
Read the rest of the Article here: https://mailchi.mp/9a732fd5378a/sproutly-announces-joint-venture-with-moosehead-breweries-to-launch-cannabis-infused-beverages-in-canada?e=4f0277fce0
Presentation Link: https://www.sproutly.ca/wp-content/uploads/2019/04/MHSC-Investor-Pres-v10.pdf
LINKS TO ADDITIONAL INFORMATION:
• AGREEMENT WITH WTER (ALKALINE WATER COMPANY) FOR NON-EXCLUSIVE LICENSE TO USE APP TECHNOLOGY -
• Virginia Co. Partnership Brand via True Aero Grow (US Washington State Company) -
Virgina Co. started selling Caramel Candies using Infusion Biosciences BIO Natural Oil - https://www.thevirginia.co/welcome
IG here showing pics of the Candies with users saying it is a GREAT PRODUCT! - https://www.instagram.com/thevirginiaco/
True Aero Grow utlizing the APP Technology - https://www.trueaerogrow.com/
• YOUTUBE -
Midas Letter interview with CEO Keith Dolo - https://www.youtube.com/watch?v=nN9MckYDbJw&t=58s
Midas Letter interview with Dr. Arup Sen - https://www.youtube.com/watch?v=n2ARcLz2gRI&t=41s
Smallcap Invester interview with CEO Keith Dolo - https://www.youtube.com/watch?v=KFOve0axwbQ
Investorideas interview with Dr. Arup Sen - https://www.youtube.com/watch?v=GHgiJjynx1Y
Proactive Investors interview with CEO Keith Dolo - https://www.youtube.com/watch?v=u3BbDtM7Zt4
Dr. Arup Sen New West Summit https://www.youtube.com/watch?v=XLc7h843p1Q
• Sproutly Provides an Update on Premium Cannabis Brand: CALIBER -
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