Pure Global Cannabis Inc. (TSX.V:PURE; OTC: PRCNF; FRA:1QS) (the “Pure Global”) an integrated, growth-oriented life sciences and consumer products cannabis company, operating through its wholly-owned subsidiary PureSinse Inc. (“PureSinse” or “Company”), and Emerald Plants Health Source (OCTQB: STNN: EPHS Holdings Inc.) (“EPHS”) are pleased to announce that the companies have entered into a memorandum of understanding (“MOU”) through which the parties shall seek to enter into a cannabis wholesale supply agreement (“Supply Agreement”) whereby PureSinse will purchase 1,000 kg of dried flower from EPHS. The total quantity will be shipped periodically throughout a 12-month period commencing on or about July 2019, as product becomes available.
Since obtaining its sales license last month PureSinse has been focused on securing high quality, differentiated inputs. The Supply Agreement will allow the Company to expand its product offerings to medical patients, support product demands from Spark Cannabis Clinic, and diversify its consumer channel strategy with adult use products. Further details will be provided upon the parties entering into a definitive supply agreement. There can be no assurance that a definitive supply agreement will be executed.
EPHS is located in downtown Montreal. By focusing on the development of unique genetics, a distinct cultivation methodology and a commitment to quality, EPHS intends to establish itself as a premium ‘craft’ producer.
“We are continuously looking for ways to get the highest quality products for distribution to our clinics, patients, and our online customers. This collaborative, forward-looking arrangement between PureSinse and EPHS meets a shared goal and vision; to deliver outstanding cannabis products to the sector” says Malay Panchal, President and CEO of Pure Global. “With their decades growing experience coupled with meeting Health Canada requirements, we anticipate that EPHS’ production method will produce wholesale supply that meets our quality policy.”
PureSinse has been recording revenues from its online sales that will be reported in its first-quarter earnings. The Company will continue to seek to secure supply in order to meet the anticipated demands of its customers in advance of Q3 2019, which is when sales from its Company’s Brampton facility are expected to commence.
“We are thrilled to be supplying PureSinse with our ‘Craft Grown with Care’ cannabis from our downtown Montrealfacility. The firming of this relationship is a testament to our cultivation process, and the team behind it,” says Steven Perry, President of EPHS. “The team at Pure Global aligns with our mission and vision to provide the medical and adult-use markets with the highest quality craft dried flower possible.”
This news release contains certain forward-looking statements, including, but not limited to, statements about Pure Global’s future plans and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, Pure Global cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and Pure Global assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
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SOURCE: Pure Global Cannabis Inc.