- Geyser
Brands recently commenced upgrades; it anticipates R&D and processing
amendments
- The
facility expansion is expected to improve the company’s focus on
processing quality and consumer satisfaction
- Solace
Management Group recently increased its production capacity and invested
in new equipment for consumer health care and pet wellness production
Geyser Brands Inc. (TSX.V: GYSR) is a leading
Vancouver-based consumer health care company producing some of the world’s most
popular cannabis brands and products. The company’s licensed producer (LP),
Apothecary Botanicals, has received Health Canada license amendment approval to
update its 7,000-square-foot facility located in Port Coquitlam, British
Columbia.
This expansion, anticipated to be complete by the end of
June 2019, would allow for research and development (R&D) and processing
capabilities in anticipation of receiving its licensed amendments. GYSR’s
R&D license is pending Health Canada’s approval of the LP facility, though
the company’s facility was recently audited by Health Canada and found to be
fully compliant. The company hopes to enhance its long-term success through
attaining a processing license, which Geyser Brands believes will help it
capitalize in the CBD wellness product market that’s predicted to be a
multibillion-dollar industry (http://ibn.fm/J7DNm).
The company’s facility expansion is anticipated to include
mothering and cloning rooms, along with designated areas for working with
approved seed banks. A focus on processing quality will allow Geyser Brands to
ensure high-CBD seed strains with consistent cannabinoid profiles, providing a
reliable quality experience for consumers via its products.
Additionally, Geyser Brands recently recognized an
achievement of its acquisition target, Solace Management Group Inc.
GMP-compliant Solace is now in its new manufacturing facility, which is located
in Coquitlam, British Columbia.
Solace hosts a dynamic portfolio of both pet and consumer
health care goods, and the new facility adds to its focus on processing
quality. The 7,500-square-foot construction increases production capacity by up
to tenfold (http://ibn.fm/cf5Vg)
and allows Solace to “develop and license new products that are either ready
for production or are in various stages of development.”
In an effort to partially or fully automate processes, new
equipment has also been added to the facility, including an industrial oven,
advanced blending and mixing systems, rotary depositing, large-volume kettle
blending, a tincture mottling system and vertical-form-fill packaging. Because
of these advancements, Solace is expected to be able to meet growing market
demand for its products.
In 2018, the Global Wellness Institute estimated that the
global wellness economy was a $4.2 trillion market that has shown growth in recent
years (http://ibn.fm/kOaHX).
The teams at Geyser Brands and Solace realize the industry’s demand for product
innovation and consumer satisfaction. Together, they aim to provide healthy and
relevant products to a burgeoning consumer base.
“The new production facility is definitely a milestone for
Solace,” Geyser Brands CEO Andreas Thatcher stated in a news release (http://ibn.fm/Mnye5). “The
acquisition of Solace will provide us with a great head start as we seek to
establish ourselves as a leading provider of health-focused hemp and CBD
products. We have some new amazing products in the queue and being able to
fulfill demand is key.”
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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