Sugarbud Reaches Nationwide Sourcing Agreement with Mendo
CALGARY, Alta., Feb. 22 2022 (GLOBE NEWSWIRE) — Sugarbud Craft Growers Corp. (TSXV: SUGR, SUGR.DB, SUGR.WR, SUGR.WS, SUGR.WT,) (OTCQB: SBUDD) (“Sugarbud” or the “Company”) is pleased to announce that it has entered into an agreement (“the Agreement”) with Quebec licensed producer Médicibis, operator of Mendo Medical (“Mendo”) to provide registered medical patients access to the Company’s Craft Cannabis Collection nationwide via the Mendo’s online medical cannabis sales platform – MendoCannabis.ca.
Under the terms of the agreement, Sugarbud will provide Mendo with a wide selection of products from its Craft Cannabis collection; including recently launched products Bahama Blizzard #11, GMO Cookies and Krypto Chronic #2 Flower Rosin for direct sale to registered medical patients nationwide. The agreement is subject to customary regulatory, licensing and new product notification requirements.
Registered medical patients who previously purchased Sugarbud products through the recently discontinued CannMart medical vending platform can transfer their prescription to Mendo by contacting the CannMart customer service team before March 1st.st, 2022 to complete the transfer. Patients may also contact the Mendo Personal Care Team directly for further assistance via email at [email protected].
“We are very pleased to partner with the Mendo team to provide registered medical patients across the country with access to our collection of craft cannabis,” said Sugarbud CEO John Kondrosky.
“Our expanded partnership with Mendo continues to leverage our existing production and reach medical patients nationwide – while allowing Sugarbud to maintain the company’s primary focus and business resource allocation on the market. continued expansion of our core recreational cannabis business,” Mr. Kondrosky concluded.
“We are thrilled to work with Sugarbud to bring quality craft cannabis products to our members through our nationwide sales portal accessible to medical patients coast-to-coast,” said Jay Schwartz, Chief Operating Officer. of Mendo. “We’re excited to introduce seven Sugarbud SKUs that we think our patients will be excited to check out.”
Schwartz added, “Providing Canadian cannabis patients with a platform to purchase a wide variety of in-demand products at accessible prices will always be Mendo’s goal. Patients are our passion at Mendo and today’s announcement reflects this core value.
“Craft Cannabis for a New Era”
Sugarbud is a consumer-focused craft cannabis company focused on growing and producing premium quality craft cannabis products, in select batches. Our vision and mission is to become a trusted and respected consumer brand renowned for delivering exceptional, high-quality craft cannabis products to legal markets by delighting the most discerning cannabis consumers.
The Sugarbud Craft Cannabis collection offers consumers “crafted cannabis for a new era”. The company is proudly Albertan and proud to share Western Canada’s long tradition of exceptional craft cannabis with the most discerning enthusiasts. Sugarbud strives to define the intersection of craftsmanship, quality and product value for consumers in the Canadian craft cannabis space.
Sugarbud Craft Cannabis products are currently available to adult recreational consumers in the Yukon Territory, British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec and nationally for registered medical patients via MendoCannabis.ca.
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About Medicibis / Mendo Medical
Medicibis is a federally licensed dried cannabis producer and distributes its products under the ENDO brand. Medicibis operates from its 20,000 square feet. establishment located 15 minutes from downtown Montreal in St Jean Sur Richelieu. Medicibis operates an online portal for medical patients that ships nationwide through their website mendocannabis.ca. Mendo’s menu has been carefully curated to offer a variety of sought-after products from licensed producers across Canada. Mendo is well positioned to soon become one of the nation’s leading providers of medical cannabis to patients and veterans.
Forward-Looking Statements and Cautions
This press release contains forward-looking statements. Specifically, and without limitation, this press release contains statements regarding: Sugarbud’s assessment of plans, operations, and the future cultivation and processing of cannabis, including opportunities for sales, marketing and distribution; product quality; the development, production, sale and distribution of Sugarbud’s Craft Cannabis collection, including new product lines and their properties, characteristics and launch schedule; the expected timing of retail availability of new products; future growth; and customer satisfaction; the Company’s annual and extraordinary general meeting and the timetable thereof. When used in this document, the words “will”, “anticipate”, “believe”, “estimate”, “expect”, “intend”, “may”, “plan”, “should” and similar expressions are intended to be among statements that identify forward-looking statements. Forward-looking statements are based on expectations and assumptions made by Sugarbud. Forward-looking statements are subject to a wide range of risks and uncertainties, and although Sugarbud believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will materialize. A number of important factors could cause actual results to differ materially from those set forth in the forward-looking statements, including, but not limited to: plans for expansion and development currently contemplated may cease or otherwise change; cannabis production could be lower than expected; the ability to ship cannabis products may be lower than expected; demand for Sugarbud’s products may be weaker than expected; the results of production and sales activities; results of scientific research; changes in input prices and costs; labor demand; demand for products; failure of counterparties to perform their contractual obligations; failure to maintain consumer brand recognition and customer loyalty; reliance on relationships with wholesalers and retailers for product distribution and failure to maintain strategic business relationships; intense competition, including from illicit sources; uncertainty and continued market changes; product liability litigation; reliance on information technology; infringement of intellectual property; non-benefit of partnerships; the sensitivity of end customers to increased sales taxes and economic conditions; non-compliance with certain regulations; the departure of key executives or the inability to attract and retain talent; federal and provincial government actions and initiatives and changes in government actions, initiatives and policies and their execution and impact; the ability to implement business strategies; the state of domestic capital markets; the ability to obtain financing; changes in general market conditions; industry conditions and events; the size of the medical marijuana market and the recreational marijuana market; government regulations, including future legislative and regulatory developments regarding medical and recreational marijuana; construction delays; risks inherent in agricultural activity, such as insects, plant diseases and similar agricultural risks that can significantly impact the size and quality of the harvest of cannabis crops; competition from other industry participants; and other factors more fully described from time to time in reports and documents filed by Sugarbud with securities regulatory authorities. In addition, the Company cautions that the current global uncertainty regarding the spread of the COVID-19 virus and variant strains of the virus, and its effect on the wider global economy may continue to have a material adverse effect on the Company. . Although the precise impact of the COVID-19 virus on the Company remains unknown, the rapid spread of the COVID-19 virus may continue to have a material adverse effect on global economic activity and may lead to volatility and disruption of supply chains. procurement, operations, mobility of people and financial markets, which could affect interest rates, credit ratings, credit risk, inflation, business, financial condition, results of operations and other factors relevant to the Company. Please refer to Sugarbud’s most recent Annual Information Form and Management’s Discussion and Analysis for additional risk factors relating to Sugarbud, which can be viewed under Sugarbud’s profile at www.sedar.com. Except as required by applicable laws, Sugarbud undertakes no obligation to publicly update or revise any forward-looking statements.
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