CALGARY, Alberta — Sugarbud Craft Growers Corp. (TSXV: SUGR, SUGR.DB, SUGR.WR, SUGR.WS, SUGR.WT) (OTCQB: SBUDD) (“Sugarbud” or the “Company”) is pleased to announce the further expansion of the Company’s Craft Cannabis Collection in Ontario with the upcoming launch of its first 30%+ THC dried flower product – 3.5g GMO Cookies.
Sugarbud GMO Cookies 3.5g Dried Flower
Sugarbud GMO Cookies is an indica-dominant hybrid strain created by crossing the popular GSC and classic Chemdawg. The buds are thin, long, open-structured and delicate, with a mix of olive green and purple, accentuated by orange hairs and a sugary coat of shimmering trichomes. Sugarbud’s GMO Cookies shows all the classic aromas of musty cellars, savory garlic, sweet spice, and earthy coffee. Total THC will range between 26-32% with a terpene profile of between 2-4%.
“Consumer feedback on our newest cultivar GMO Cookies has been tremendous and we are really excited about bringing this beautiful cultivar to the Ontario market. Our GMO Cookies is yet another outstanding example of our commitment to consumer satisfaction and the house-style and craftsmanship that has come to define Sugarbud Craft Cannabis – dense, sugary buds, exceptional terpene forward aromas and rich smooth flavors,” stated Sugarbud President and CEO, John Kondrosky.
“We remain very pleased with the progress of our growing partnership with the OCS and continued expansion of our Craft Cannabis Collection throughout the Province of Ontario,” added Sugarbud’s CEO, John Kondrosky. “Our products, and more specifically our commitment to quality and total value, continues to resonate with consumers across the country,” concluded Mr. Kondrosky.
The Company has received initial purchase orders from the Ontario Cannabis Store (“OCS”) and expects GMO Cookies 3.5g Dried Flower to be available for purchase from private cannabis retailers throughout Ontario and online at OCS.ca in Spring 2022.
The OCS is Ontario’s only legal online retailer and is responsible for the wholesale distribution of recreational cannabis products to private retailers in the province.
“Hand-Crafted Cannabis for a New Era”
Sugarbud is a consumer-driven craft cannabis company focused on the cultivation and production of superior, select-batch, craft cannabis products. Our vision and mission are to become a trusted and well-respected consumer brand renowned for providing exceptional high-quality craft cannabis products to legal markets by delighting the most discerning of cannabis consumers.
The Sugarbud Craft Cannabis Collection offers consumers “Hand-Crafted Cannabis for a New Era”. The Company is proudly Albertan and is proud to share Western Canada’s long tradition of exceptional craft cannabis with the most discerning of enthusiasts. Sugarbud strives to define the intersection of product craftsmanship, quality, and value for consumers in the Canadian craft cannabis space.
Sugarbud Craft Cannabis products are currently available to adult recreational consumers in the Yukon Territory, British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and nationally to registered medical patients through MendoCannabis.ca. Sugarbud products are also distributed in the Province of Quebec through ROSE LifeScience Inc.’s (“ROSE”) ELEKT Cannabis brand, pursuant to a Sales, Marketing, Supply and Distribution Agreement between ROSE and the Company.
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Forward Looking and Cautionary Statements
This news release contains forward-looking statements. More particularly, and without limitation, this news release contains statements concerning: Sugarbud’s assessment of future plans, operations and cannabis cultivation and processing, including sales, marketing and distribution opportunities; product quality; the development, production, sale and distribution of Sugarbud’s Craft Cannabis Collection, including new product lines and the properties, characteristics and launch timing thereof; the expected timing of retail availability of new products; future growth; and customer satisfaction and the status of the Company’s partnership with OCS. When used in this document, the words “will,” “anticipate,” “believe,” “estimate,” “expect,” “intent,” “may,” “project,” “should,” and similar expressions are intended to be among the statements that identify forward-looking statements. The forward-looking statements are founded on the basis of expectations and assumptions made by Sugarbud. Forward-looking statements are subject to a wide range of risks and uncertainties, and although Sugarbud believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements including, but not limited to: currently contemplated expansion and development plans may cease or otherwise change; production of cannabis may be lower than expected; ability to ship cannabis products may be lower than expected; demand for Sugarbud’s products may be lower than anticipated; results of production and sale activities; results of scientific research; changes in prices and costs of inputs; demand for labour; demand for products; failure of counter-parties to perform contractual obligations; failure to maintain consumer brand recognition and loyalty of customers; reliance on relationships with wholesalers and retailers for distribution of products and failure to maintain strategic business relationships; intense competition, including from illicit sources; uncertainty and continued evolution of markets; product liability litigation; reliance on information technology; infringement on intellectual property; failure to benefit from partnerships; sensitivity of end-customers to increased sales taxes and economic conditions; failure to comply with certain regulations; departure of key management personnel or inability to attract and retain talent; actions and initiatives of federal and provincial governments and changes to government actions, initiatives and policies and the execution and impact thereof; the ability to implement corporate strategies; the state of domestic capital markets; the ability to obtain financing; changes in general market conditions; industry conditions and events; the size of the medical marijuana market and the recreational marijuana market; government regulations, including future legislative and regulatory developments involving medical and recreational marijuana; construction delays; risks inherent in the agricultural business, such as insects, plant diseases and similar agricultural risks which can have a significant impact on the size and quality of the harvest of cannabis crops; competition from other industry participants; and other factors more fully described from time to time in the reports and filings made by Sugarbud with securities regulatory authorities. In addition, the Company cautions that current global uncertainty with respect to the spread of the COVID-19 virus, and variant strains of the virus, and its effect on the broader global economy may continue to have a significant negative effect on the Company. While the precise impact of the COVID-19 virus on the Company remain unknown, rapid spread of the COVID-19 virus may continue to have a material adverse effect on global economic activity, and can result in volatility and disruption to global supply chains, operations, mobility of people and the financial markets, which could affect interest rates, credit ratings, credit risk, inflation, business, financial conditions, results of operations and other factors relevant to the Company. Please refer to Sugarbud’s most recent annual information form and management’s discussion and analysis for additional risk factors relating to Sugarbud, which can be accessed under Sugarbud’s profile on www.sedar.com. Except as required by applicable laws, Sugarbud does not undertake any obligation to publicly update or revise any forward-looking statements.
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