VANCOUVER, BRITISH COLUMBIA and DENVER, COLORADO – May 14, 2019 – Cannabis One Holdings Inc. (CSE:CBIS) (“Cannabis One“, “CBIS“, or the “Company“), an emerging, premier “House of Brands” in North America, is pleased to announce that it is expanding its multi-state footprint for both CBD and THC-infused products with the leasing of two (2) manufacturing and processing facilities in the State of Oregon, totaling over 21,000 ft2. Located near Portland, Oregon, the Company is transitioning the existing facilities into state-of-the-art manufacturing and distribution centers. These facilities are being developed in accordance with GMP (Good Manufacturing Practices) standards to ensure the production of only the highest-quality products – with an eye towards international export, as legislation and regulation may permit.
Jeff Mascio, CEO of Cannabis One stated, “Following the passage of the United States Farm Bill, mainstream consumers will increasingly be able to enjoy the broad benefits of non-psychoactive hemp-derived CBD, with Cannabis One positioning well to take advantage of this global opportunity.” Mr. Mascio continued, “Having successfully operated in one of the most competitive cannabis jurisdictions around the world, Cannabis One is confident it can translate its experience into the Oregon market and abroad.”
Additionally, the Cannabis One team is excited to announce its new “Herah” product line, consisting of CBD-wellness products, inspired by cannabis industry pioneer, Herah Osborne. The Herah product line will incorporate sought-after botanical ingredients into topical and tincture applications, including eye repair serums, body lotions, and facial creams. The development of ‘Herah’-branded products will also permit Cannabis One to utilize its new CBD platform to produce and distribute its Honu-branded line of CBD-infused products and Evergreen Organix-branded line of CBD edibles, confections, and topicals. These innovative new product lines are a continuation of Cannabis One’s stated strategy of leveraging award-winning brands to create multi-state brand arbitrage opportunities.
Herah Osborne commented, “As a mother of twins with a rare genetic disorder, my cannabis journey began with the pursuit of novel therapies to manage such symptoms. With this announcement, I am thrilled to continue this endeavour and to partner with the experience of Cannabis One’s management team to continue the development of alternative CBD-wellness solutions for afflicted individuals across the country.”
In pursuing the development of CBD production facilities, Cannabis One is strategically entering the CBD-wellness market at a time when U.S. federal regulations now permit a growing breadth of products containing hemp-derived CBD. The tremendous opportunity offered by hemp-derived CBD has been confirmed by the recent entry of nation-wide retailers, including CVS Health (NYSE: CVS), as they look to capitalize on the increasing number of applications for hemp-derived CBD. In addition to its Herah CBD line, Cannabis One’s entry into the Oregon market is anticipated to also provide the Company with another facility from which to manufacture and distribute its complete array of award-winning THC brands, including Honu, Evergreen Organix, INDVR, and West Edison, upon securing the requisite Oregon Liquor Control Commission (“OLCC“) cannabis licensing approvals.
About Cannabis One
IF WE BRAND IT, THEY WILL COME – Cannabis One Holdings Inc. (CSE:CBIS) is focused on aggregating and optimizing popular cannabis brands throughout North America. With its unique, franchise-
ready retail brand, The JointTM, and through targeted acquisition and partnership opportunities, Cannabis One intends to become the premier, globally-recognized, “House of Brands”, holding a client portfolio of award-winning products with an extensive market footprint. Through the Company’s The JointTM retail concept, Cannabis One intends to leverage the consumer and brand data harvested from its retail locations to bring data-driven analytics to an emerging, branded industry. For consumers, Cannabis One desires to become the definitive source for unparalleled product selection and renowned service in an otherwise fragmented market.
Disclaimer and Forward-Looking Information
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “anticipate”, “could”, “intend”, “expect”, “believe”, “will”, “projected”, “potential”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the parties’ current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. These statements are only predictions. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Forward looking statements include, but are not limited to CBIS realizing the anticipated benefits of the planned expansion into the hemp-CBD market, including the potential for international export; the anticipated success of the new “Herah” brand line; and the securing of OLCC cannabis licensing approval for the potential manufacture and distribution of THC products. The Company assumes no obligation to update forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
The forward-looking information contained in this release is made as of the date hereof and the parties are not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
To the extent any forward-looking information in this press release constitutes “future-oriented financial information” or “financial outlooks” within the meaning of applicable Canadian securities laws, such information is being provided to demonstrate the anticipated product sales of the Company and the reader is cautioned that this information may not be appropriate for any other purpose and the reader should not place undue reliance on such future-oriented financial information and financial outlooks. Future-oriented financial information and financial outlooks, as with forward-looking information generally, are, without limitation, based on the assumptions and subject to the risks set out above under the heading “Disclaimer and Forward-Looking Information”. The Company’s actual financial position and results of operations may differ materially from its management’s current expectations and, as a result, the Company’s actual revenue may differ materially from the prospective revenue projections provided in this press release. Such information is presented for illustrative purposes only and may not be an indication of the Company’s actual financial position or results of operations.
Cannabis is legal in certain States in the United States (“U.S.“), however cannabis remains illegal under U.S. federal laws. Cannabis One intends to conduct its U.S. cannabis operations in a manner consistent with the applicable State laws and in compliance with regulatory and licensing requirements applicable in the applicable State. However, the readers should be aware that any change in federal guidance on enforcement actions could adversely affect Cannabis One’s ability to access private and public capital required in order to support continuing operations and its ability to operate in the U.S.
Unlike in Canada which has Federal legislation uniformly governing the cultivation, distribution, sale and possession of cannabis under the Cannabis Act (Federal), readers are cautioned that in the U.S., cannabis is largely regulated at the State level. To the knowledge of Cannabis One, there are to date a total of 33 states, plus the District of Columbia, that have legalized cannabis in some form. Notwithstanding the permissive regulatory environment of medical cannabis at the State level, cannabis continues to be categorized as a controlled substance under the Controlled Substances Act in the U.S. and as such, cannabis-related practices or activities, including without limitation, the manufacture, importation, possession, use or distribution of cannabis are illegal under U.S. Federal law. Strict compliance with State laws with respect to cannabis will neither absolve Cannabis One of liability under the U.S. Federal law, nor will it provide a defense to any Federal proceeding, which may be brought against Cannabis One. Any such proceedings brought against Cannabis One may materially adversely affect its operations and financial performance in the U.S. market.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Further Information: For investment inquiries, please contact Scott Koyich, Investor Relations at Scott@briscocapital.com or (403) 619-2200.