/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO
About the Sales Amendment
Founder,
Consumer Facing Brands
As SpeakEasy continues to build on its agricultural success, the focus has never shifted from the opportunity in establishing consumer brand loyalty. The agricultural foundation that the Company has achieved is a critical steppingstone into this next phase. The stage is set, as SpeakEasy continues to build on its core principles - product quality, respecting the culture and achieving a competitive price point. The Company believes that the Canadian cannabis market is years from maturity and full of opportunity and is excited about this next phase of their business.
Additional Revenue Stream
The amendment to SpeakEasy's licence allows the Company the opportunity to pursue additional revenue streams in addition to the established business-to-business sales, with potential for increased margins and more consistent cash flows. The business will continually seek innovative ways to establish new revenue streams in the evolving market while building strong relationships.
Extracts Processing Infrastructure
SpeakEasy continues to process its 2020 outdoor harvest into a variety of extract products. The Company anticipates processing the remainder of the yield before the end of the calendar year.
The onsite extraction facility is fully operational and has the ability to produce up to 250 KG of concentrates per month, or 3,000,000 grams per year and is capable of covering the entire spectrum of the extraction market. The Company anticipates processing it's estimated 144,000 KG 2021 outdoor harvest within a 12 month period.
SpeakEasy has been dedicated to building a solid portfolio of extraction assets to compete with the rapidly growing extracts market. The Company is excited to increase its line of value-added products while continuing to increase margins. SpeakEasy extracts brands will focus on delivering high-quality extracts to the consumer market.
This sales licence amendment brings SpeakEasy one step closer to becoming one of
About
The Canadian cannabis market grew 118% in 2020 to
Sales of cannabis extracts and concentrates tripled between the first and final quarter of last year, ending 2020 with approximately
Founder
About
square foot indoor cannabis complex and has completed its harvest of its 60-acre outdoor field. Total yearly production of cannabis flower and biomass is projected to be in excess of 144,000 kilograms in 2021.
On behalf of the Board of the Directors
Forward Looking Statement
This news release contains statements that constitute "forward-looking statements." Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause SpeakEasy's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.
Forward-looking statements in this document include statements concerning SpeakEasy's expectation that the receipt of the amendment to its license will allow it to pursue additional revenue streams, expectations concerning potential for increased margins and more consistent cash flows; its expectations that it will process the balance of its 2020 harvest before the end of the calendar year, projections that its total yearly production of cannabis flower and biomass will be in excess of approximately 144,000 kilograms in 2021 and the expected timing to process scuh production, its expecations concerning the projected growth of
Although SpeakEasy believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. By their nature, these statements involve a variety of assumptions, known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such statements.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; COVID-19, adverse industry events; future legislative and regulatory developments involving cannabis; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; the cannabis and hemp industries and markets in
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
The Canadian Securities Exchange nor its Regulation Services accepts responsibility for the adequacy or accuracy of this release.
https://www.forbes.com/sites/javierhasse/2021/04/14/canada-cannabis-sales-doubled-in-2020-hitting-26b-heres-whats-next/?sh=19c1d546494f
https://mjbizdaily.com/canadian-cannabis-extracts-topped-ca324-million-in-sales-in-2020/#:~:text=Canadian%20cannabis%20extracts%20topped%20CA%24324%20million%20in%20sales%20in%202020,-Published%20May%206&text=Sales%20of%20cannabis%20extracts%20and,to%20new%20Statistics%20Canada%20data.(2)
https://global-uploads.webflow.com/596691afde3c5856d866ae50/6064d8c226e976f615298217_Q121_CA%20Cann_Brand%20Health_Market%20Report_FINAL.pdf (3)
SOURCE
© Canada Newswire, source