- Geyser
Brands has completed its first test harvest and second harvest as a
cannabis cultivator under Health Canada’s licensing regulation, and it is
working to complete licensing for direct-to-consumer sales; its third
harvest, now in the ground, promises a 200 percent yield increase over the
first two harvests
- GYSR
recently undertook a $400,000 private placement financing bid and welcomed
two new investor relations officers to boost its management team
- The
company has signed a non-binding letter of intent to acquire the cannabis
brands and assets of Solace Management Group
Cannabis cultivator Geyser Brands Inc. (TSX.V: GYSR) is beginning to steam
its way into an industry centered on what is known as a natural, healthful
recourse for people struggling to manage insomnia, digestive difficulties, pain
and inflammation. Geyser is building brands and celebrating the successful
March harvest of its first test crops under the requirements of Health Canada’s
license to cultivate.
Geyser Brands is a British Columbia-based company producing
consumer health care products and brands through a formulation laboratory focused
on enhancing the bio-availability and shelf stability of all-natural,
hemp-derived cannabidiol (CBD) products. The company’s proprietary NanoFusion
technology is at the heart of its topical, cream, beverage and baked goods, oil
and tincture formulations for promoting human and pet health. Its strategy is
to build and market brands nationally and internationally, establishing retail
channels and direct-to-consumer experiences for its hemp-infused products and
enhancing the products with CBD where legal.
Geyser began trading on the TSX Venture Exchange in
December, and, with its first and second harvests under its belt (http://ibn.fm/BN5Vz), the
company is working to complete a processing and sales license, which will allow
GYSR to extend its products into the regulated Canadian cannabis market and
direct-to-consumer medical market.
On April 18, the company announced that it is undertaking a
private placement financing of up to 615,385 units at $0.65 per unit, with each
unit including a common share and a purchase warrant exercisable into an
additional common share at a price of $0.85 per share (http://ibn.fm/JvlLj). The
placement is expected to generate gross proceeds of up to C$400,000 as a means
to provide general working capital for Geyser’s growth initiatives.
“Investing in operational capacity expansion is vital to
maintaining our brands’ existing leadership positions in the global cannabis
industry,” CEO Andreas Thatcher stated in the announcement. “This financing
gives us additional resources so we can maintain our momentum and launch
ourselves through the window of opportunity that exists domestically and abroad
so we can continue to lead a sector forward into new territory.”
Geyser has also augmented its executive staff, recently
welcoming Doug Kerr and Alan Jones as its investor relations officers (http://ibn.fm/nEQTm). The pair
brings industry experience from working with Wildflower Brands Inc. and Phivida
Holdings Inc., respectively, where they helped the companies communicate their
corporate strategies to shareholders.
Under the terms of joining the management team, Kerr
received 250,000 stock options to purchase common shares exercisable at a price
of $0.70 per share, and Jones was granted 125,000 options.
In February, Geyser signed an LOI with Solace Management
Group Inc. to acquire Solace’s brands and assets, including hemp-infused pet
treat brand ‘Apawthecary Pets’, hemp-based product line ‘Apothecary Naturals’,
hemp-based tattoo after-care products ‘Apothecary Ink’, hemp-infused
freeze-dried pet products for dogs and cats ‘WildTail Pets’, and the company’s
research and development arm, Apothecary Labs.
Solace already distributes its products in Canada through
over 3,000 stores, with international distribution to European, Caribbean and
North American markets.
For more information, visit the company’s website at www.GeyserBrands.com
NOTE TO INVESTORS: The latest news and updates
relating to GYSR are available in the company’s newsroom at http://ibn.fm/GYSR
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