BELGRADE, Mont.--(BUSINESS WIRE)--Lattice Biologics Ltd. (TSX-V: LBL) (OTCBB: LBLTF) (“Lattice” or the “Company”), an emerging leader in psilocybin research and cannabis company, today announced it has entered into a Strategic Supply Agreement (the "Agreement") with Firehouse LLC ("Firehouse"), one of Montana’s most established medical cannabis producers.
Under the terms of the Agreement, Firehouse will supply the Company with dried bulk flower over a two-year period, with the option to extend for two additional terms of two years each if the parties agree to terms. During the first two-year term and each additional term, if applicable, Firehouse will provide Lattice with up to 100 lbs/mo of bulk dried flower, which will be processed into finished product, co-branded under the Lattice and Firehouse brand names, and sold exclusively within Lattice affiliated dispensaries.
"We are excited about our strategic partnership with Firehouse, a well-established medical marijuana provider, and the opportunity to continue to expand our medical cannabis brand throughout the US," said Guy Cook, Chief Executive Officer, Lattice Biologics Ltd. "Today's announcement is about more than just a supply agreement. The Agreement represents a significant step for Lattice, and we look forward to bringing our high-quality medical cannabis products to patients in Montana. We are moving aggressively to establish ourselves as an emerging leader in life sciences to improve health and alleviate suffering of our patients with medical cannabis and psychedelics in states where they are approved."
"We are proud to partner with Lattice, an emerging leader who shares with us the same quality values and commitments of meeting patients' needs and improving their quality of life,” said Matthew Powers, President of Firehouse.
The strategic partnership will also include the possibility of Lattice and Firehouse collaborating on creating an extensive line of concentrates, and furthering the array of co-branded products that can be offered in Montana. Now strategically positioned in two of the largest cannabis markets in Montana, the Company will continue to leverage its strengths as it develops its medical and recreational cannabis markets throughout the USA including strategic acquisitions of dispensaries.
Firehouse has been pioneering exotic cannabis strains for more than 5 years and has established itself as a well-respected company in the medical marijuana industry.
About Lattice Biologics Ltd.:
Lattice Biologics is traded on the TSX-V under the symbol: LBL.
Lattice is focused on the research and commercialization of psychedelic products in combination with its stem cell based regenerative compounds to create new and patentable technologies and medicines that improve health and alleviate suffering. Lattice Biologics maintains its headquarters, laboratory and manufacturing facilities in Belgrade, Montana.
Lattice Biologics is discontinuing its Biologics business which develops and manufactures biologic products to domestic and international markets. The products are used in a variety of surgical applications.
Lattice Biologics maintains all necessary licensures to process and sell its tissue engineered products within the U.S. and internationally.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement on Forward-Looking Information:
Certain information contained in this news release constitutes “forward-looking statements” within the meaning of the ‘safe harbour’ provisions of Canadian securities laws. All statements herein, other than statements of historical fact, are to be considered forward looking. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “planned”, “potential”, “future”, “expected”, “could”, “possible”, “goal”, “intends”, “will” or similar expressions. Forward-looking statements in this news release include, without limitation: information pertaining to the Company’s strategy, plans, or future financial performance, such as statements with respect to the Transaction, and other statements that express management’s expectations or estimates of future performance. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Lattice to be materially different from those expressed or implied by such forward-looking statements.
Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by management as of the date such statements are made, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The factors and assumptions that could prove to be incorrect, include, but are not limited to: that market prices will be consistent with expectations, the continued availability of capital and financing, and that general economic, market and business conditions will be consistent with expectations. The forward-looking statements are not guarantees of future performance. We disclaim any obligation to update or revise any forward-looking statements, except as required by law. Readers are cautioned not to put undue reliance on these forward-looking statements.
United States Advisory: The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered, sold, or resold in the United States or to, or for the account of or benefit of, a U.S. Person (as such term is defined in Regulation S under the U.S. Securities Act) unless an exemption from the registration requirements of the U.S. Securities Act is available. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in the state in the United States in which such offer, solicitation or sale would be unlawful.
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