- Geyser
Brands recently announced the TSX Venture Exchange’s conditional approval
of its acquisition of Solace Management Group
- One of
Solace Management Group’s most noteworthy assets is Apawthecary Pets – a
line of hemp-based pet treats, salves and oral drops available for
purchase throughout Canada
- Geyser
also presented its financial results for the eight months ended in March
31, 2019, as well as providing several strategic milestones that will be
determining for the growth and stability of the company in the future
Global science-led consumer health care company Geyser Brands Inc. (TSX.V: GYSR) recently announced
that it was ready to move forward with a major strategic acquisition following
its conditional approval by the TSX Venture Exchange. In a press release issued
on August 6, 2019, the company said that it expects to complete the acquisition
of Solace Management Group Inc. by the end of the month, subject to the terms
of the definitive agreement (http://ibn.fm/kCtHa).
Once the transaction is completed, Geyser Brands will have
access to Solace’s brands and assets, which include the popular Apawthecary
Pets line of products. Apawthecary Pets is a leading, natural and hemp-based
range of pet treats with formulations for human-grade pet treats, salves and
oral drops. The company’s pet products are available throughout stores and vet
clinics in Canada.
Solace’s product portfolio features 23 products and 57 SKUs
for both pet products and consumer health care goods. All of the products are
made with organic, cold-pressed and unrefined hemp seed oil extract.
Geyser’s important announcements did not end there.
Previously, the company presented its financial results for the eight months
ended March 31, 2019 (http://ibn.fm/Dc9Pn).
“We are pleased with our progress in the first eight months since completing
the RTO. Our subsidiary, 0957203 B.C. Ltd. dba Apothecary Botanicals, through
its strong management, has been successful in bringing its facility to
GMP-compliant standards for manufacturing and processing and in obtaining
Health Canada licensing for Cultivation and Standard Processing,” Geyser CEO
Andreas Thatcher said in a news release.
The financial report features a couple of important
highlights that stand as evidence of Geyser’s growth. As of March 2019, the company’s
total assets reached $4,890,422, in comparison to $4,504,411 as of July 31,
2018. Total shareholders’ equity reached $3,843,153 (from $3,405,399 in July
2018).
During the reporting period, Geyser completed equity
financing that resulted in total proceeds from private placements of
$2,015,140, as well as $76,500 from exercise of warrants. Geyser intends to use
the proceeds from the financing for the completion of capital projects,
potential acquisitions, research and development, commercialization of
manufacturing capabilities and working capital purposes.
Finally, Geyser also announced its filing of amended and
restated unaudited condensed consolidated interim financial statements for the
three- and six-month periods ended January 31, 2019.
The restated interim financials and the corresponding
management discussion can both be accessed via the company’s profile on SEDAR.
The restated January interim financials replace and supersede previously filed
January interim financials.
Geyser Brands works on the development of hemp-based
consumer products in the nutraceutical, cosmetics, food and beverage and pet
sectors. The company has an international presence, and it owns a Health
Canada-approved licensed producer in Port Coquitlam, British Columbia, that has
cultivation and processing licenses and is in anticipation of receiving
research and development and sales licenses.
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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