VANCOUVER, British Columbia--(BUSINESS WIRE)--Bevcanna Enterprises Inc. (CSE:BEV) (“BevCanna” or the “Company”) is pleased to announce that the Company’s common shares will commence trading on the Canadian Securities Exchange (the “CSE”) at the market open today, under the symbol “BEV”.
BevCanna’s executive team is led by renowned retail executive Marcello Leone as CEO, and includes Martino Ciambrelli as President, John Campbell as CFO and Emma Andrews as Chief Commercialization Officer. Mr. Leone also holds the role of Chair of the Board of BevCanna Enterprises Inc.
“The listing is the next step towards creating a unique portfolio of innovative and compelling consumer brands in the cannabis and hemp-infused product landscape,” said Mr. Leone, CEO of BevCanna. “We already have the industry expertise, world-class infrastructure and unmatched natural resources to build a market leader, and this listing will provide the foundation to fully realize our potential.”
“The CSE has become widely recognized as the leading exchange supporting the burgeoning legal cannabis industry,” continued Leone. “We’re proud to join this elite group of listed companies, and look forward to a long partnership with the organization.”
The Company has 45,510,750 shares outstanding, of which 17,491,095 are held in escrow for release over time, in compliance with National Policy 46-201, Escrow for Initial Public Offerings and pursuant to the terms of a voluntary pooling agreement.
The Company has granted an aggregate of 1,250,000 stock options under the Company’s Stock Option Plan to certain of its executive officers, which are exercisable at a price of $0.50 per share until February 28, 2024.
About BevCanna Enterprises Inc.
BevCanna Enterprises Inc. (CSE: BEV) plans to develop and manufacture cannabinoid-infused beverages and consumer products for in-house brands and white label clients. With decades of experience creating, branding and distributing iconic brands that have resonated with consumers on a global scale, the team demonstrates an expertise unmatched in the emerging cannabis beverage category. Based in British Columbia, Canada, BevCanna has a 100-acre outdoor cultivation site in the fertile Okanagan Valley and the exclusive rights to a pristine spring water aquifer, as well as a world-class 40,000-square-foot, HACCP certified manufacturing facility, with a current bottling capacity of up to 72M bottles. BevCanna’s vision is to be a global leader in infused innovations.
Disclaimer for Forward-Looking Information
Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact are forward-looking statements. Forward looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “potential”, “believe”, “intend”, “estimate” or the negative of these terms and similar expressions. Forward-looking statements in this news release include, but are not limited to: statements with respect to the trading date of the Company’s common shares on the CSE; the burgeoning legal cannabis industry; a long partnership with the CSE; and the business plans of the Company.
Forward-looking statements are based on certain assumptions regarding the issuances of licences by Health Canada to the Company under the Cannabis Act; anticipated changes to the Cannabis Act and the regulations thereunder to permit the production and sale of food products, derivatives and beverages containing THC and CBD; changes to U.S. state and federal laws to permit the production and sale of cannabis and cannabis-derived products; and expectations with respect to the future growth of recreational cannabis products. While the Company consider these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Readers are cautioned not to place undue reliance on forward-looking statements.
The assumptions of the Company, although considered reasonable by it at the time of preparation, may prove to be incorrect. In addition, forward-looking statements necessarily involve known and unknown risks, including, without limitation, the Company not being issued licences by Health Canada; Health Canada electing not to legalize and/or permit the production and sale of food products, derivatives and beverages containing THC and CBD; the United States’ Food and Drug Administration electing not to legalize and/or permit the production and sale of food products, derivatives and beverages containing CBD; risks associated with general economic conditions; adverse industry events; future legislative, tax and regulatory developments; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the inability to implement business strategies; competition; currency and interest rate fluctuations and other risks. Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. For more information on the risk, uncertainties and assumptions that could cause anticipated opportunities and actual results to differ materially, please refer to the public filings of the Company which are available on SEDAR at www.sedar.com. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect our expectations as of the date hereof, and thus are subject to change thereafter. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
