Sproutly Announces Submission of NNCP Notification with Health Canada for Sale of Cannabis-Infused Beverages

·4 min read

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Sproutly Canada, Inc. (CSE: SPR) (OTCQB: SRUTF) (FSE: 38G) ("Sproutly" or the "Company") is pleased to announce it has completed the formulation of its initial beverage products and filed with Health Canada its NNCP notification related to cannabis-infused beverages utilizing cannabis extracts produced by the APP Technology. Sproutly’s beverages deliver a predictable and rapid onset and offset of true to strain cannabis experiences that are not achieved by distillates and terpenes. The Company’s beverages are their second 2.0 product to be submitted, with the intended launch set for the third quarter of calendar 2021.

"With the completion of our initial beverage formulations, we are making steady progress towards 2.0 products that utilize our APP technology. Our beverages will deliver a predictably fast onset and offset of natural experiences of Sativa, Indica, and Hybrid strains." commented Dr. Sen, CEO & Director of Sproutly. "Our all-natural water-soluble cannabis extract is well suited for beverages, providing a great taste profile while avoiding artificial chemicals typically used to incorporate oil into water." he added.

The beverages are being launched under Sproutly’s Caliber brand starting with the Company’s Lemon Z and Berry White strains to deliver a Sativa and an Indica experience, respectively. Each product will be available in both a single 2 ounce (60mL) bottle with whole plant extract that contains 5mg THC, and a single 8 ounce (237mL) bottle containing 10mg THC, the maximum allowed under Canada's Cannabis Act. The products will be sold under its Health Canada licensed subsidiary, Toronto Herbal Remedies Inc. ("THR") and leverage THR’s current provincial supply agreements within Canada.

About Sproutly Canada, Inc.

Sproutly’s core objective is to become the leading supplier of unique ingredients and customized formulations to the cannabis beverage and edibles market. Our natural water-soluble Infuz2O and BioNatural Oils will deliver revolutionary brands to international markets that are striving to produce a diverse portfolio of differentiated consumer products. Sproutly’s business focus is to execute on partnerships with local and globally established consumer brands to leverage their existing customer bases, further expand brand loyalty, assist with marketing, and support distribution networks to deliver this scientific breakthrough with speed and efficiency worldwide.

For more information on Sproutly, please visit: www.sproutly.ca.

Forward-Looking Statements

Cautionary Note Regarding Forward-Looking Statements: This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws or forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to future events or future performance and reflect the expectations or believes regarding future events of management of Sproutly. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things, timing relating to the Company's ability to launch and supply its products in Canada; and the Company's development and launch of its Cannabis 2.0 products.

These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These assumptions, risks and uncertainties include, among other things, the Company's inability to develop and launch its Cannabis 2.0 products; potential negative consumer, investor or public perception of the Company’s Cannabis 2.0 products in Canada; changes in consumer preferences and product trends; and political, legal and regulatory uncertainty relating to cannabis products generally. In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, that the Company will launch its Cannabis 2.0 products in Canada; that the Company’s Cannabis 2.0 products will be positively received by consumers in Canada; and that the Company will continue to develop and launch its Cannabis 2.0 products. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210507005150/en/

Contacts

Dr. Arup Sen, Chief Executive Officer and Director of Sproutly Canada, Inc.
Email: investors@sproutly.ca