Here is an article from a very well respected Investors site re SRUTF. I owned SRUTF before the Molson Beer news and sold when the stock actually went down a couple days later, but still made a great return. Back in tomorrow. Expect some buying pressure starting tomorrow I would imagine. I waited to get back in and now is the time. The article below was sent out to all the paid subscribers.
Sproutly has been a casualty – like so many others – in the bleeding of the summer pot stocks. However, they have plenty to be excited about.
Sproutly’s core mission is to become the leading supplier to the cannabis beverage and edibles market.
They are in a good position, and have already started expanding. They’ve just announced the an expansion for their new manufacturing facility.
Sproutly Canada, Inc. (CSE: SPR) (OTCQB: SRUTF) (FSE: 38G) (“Sproutly” or the “Company”) is pleased to announce an expansion of its operations with a new manufacturing facility in close proximity to the Toronto Herbal Remedies Inc. (“THR”) (the Company’s wholly-owned licensed cannabis producer) production facility in Scarborough, Ontario. The additional property allows the Company to continue to centralize operations in the Greater Toronto Area, as well as providing manufacturing capabilities for it’s proprietary reagents, a key input for the APP Technology cannabinoid recovery process.
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As Sproutly continues to explore other global markets for expansion, the need to produce it’s proprietary reagents at one central location and under EU GMP guidelines will be critical to ensuring consistency and quality, while at the same time reducing manufacturing costs. The new facility will also ensure that all space at THR is allocated to cannabis production and finished goods manufacturing.
The additional facility will not need to be licensed by Health Canada as no cannabis or cannabis products will be present on site.
Keith Dolo, Chief Executive Officer, Sproutly Canada commented, “This expansion is being designed and constructed to be compliant with European Union GMP specifications, which will enable Sproutly to manufacture proprietary reagents for use not only in Canada, but also for distribution into other global markets.”
They have also signed Constantine Constandis to the Board of Directors. He’s a beverage sales expert and has worked with big players like Pernod Ricard SA (RI:EN Paris) and as former CEO of Corby Spirit and Wine Ltd (TSX: CSW.A, CSW.B).
“We are very pleased with the addition of Constantine Constandis to Sproutly’s Board of Directors,” said Keith Dolo.
“Constantine has been a valued contributor to Sproutly since joining our Advisory Board last year, and this was the next logical step as we looked to expand our Board. His track record in brand building, operations, sales and marketing in the highly-regulated spirits industry will prove to be extremely valuable to Sproutly as it continues to develop into a leading cannabis beverage company”.
“Sproutly has a demonstrated competitive advantage with their licensed APP technology, and it’s supported by a competent and dedicated leadership team. That makes it very exciting for me, in a dynamic industry with big potential across multiple consumer offerings,” said Mr. Constandis.
Sproutly will find plenty of buyers for its water soluble patents. Once beverages can actually start being sold, they should do quite well.
We’re still buying Sproutly (CSE: SPR) (OTCQB: SRUTF) under C$0.50 and $0.40 respectively.
