TORONTO--(BUSINESS WIRE)--Bluma Wellness Inc. (the “Company” or “Bluma Wellness”) (CSE: BWEL.U) is pleased to announce that its wholly-owned operating subsidiary, One Plant Florida, intends to open One Plant Florida’s fifth retail dispensary and delivery hub in Ocala, Florida on Friday, September 25, 2020, subject to the receipt of all required regulatory approvals, including of the Florida Office of Medical Marijuana Use (“OMMU”).
One Plant Florida’s Ocala retail dispensary and delivery hub is located at 811 NE 36th Avenue, Ocala, Florida, 34952, close to the city’s downtown district.
“We are very excited to join the Ocala, Gainesville, and The Village communities and to bring our premium medical cannabis flower, live rosin, and distillate products to qualified patients throughout Central Florida,” said Brady Cobb, CEO of Bluma Wellness. “The Ocala dispensary’s central location enables One Plant Florida to expand its delivery footprint and ultimately provide more efficient service to qualified patients throughout the state.”
The Ocala location joins One Plant Florida’s four (4) existing and operating retail dispensary and delivery locations in Boynton Beach, St. Petersburg, Jacksonville Beach, and Port St. Lucie, Florida.
In addition to its new Ocala location, Bluma Wellness intends to open four (4) additional One Plant Florida retail dispensary locations and/or delivery hubs by the end of 2020, including in Avon Park (expected on or before October 16, 2020), Orlando (Fern Park) (expected on or before October 30, 2020), North Miami and Bonita Springs, pending receipt of all required local approvals and regulatory approvals from the Florida OMMU.
Qualified patients can learn more about the Company’s retail dispensary locations by visiting www.oneplant.us.
Bluma Wellness Announces Depository Trust Company (DTC) Eligibility
Bluma Wellness Inc. is pleased to announce that its common shares are now eligible for electronic clearing and settlement through the Depository Trust Company (DTC) in the United States.
DTC is a subsidiary of the Depository Trust & Clearing Corp., a U.S. company that manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through DTC are considered to be "DTC eligible". DTC eligibility is expected to create a seamless process of trading and enhance liquidity of the Company's common shares in the United States over time.
The Company’s common shares will continue to trade on the Canadian Securities Exchange under the symbol “BWEL.U”.
About Bluma Wellness Inc.
Bluma Wellness Inc. owns and operates a vertically-integrated, licensed medical cannabis company in the State of Florida doing business as “One Plant Florida.” One Plant Florida cultivates, processes, dispenses and retails medical cannabis to qualified patients in the State of Florida through multiple retail dispensaries and an innovative next-day door-to-door e-commerce home delivery service, thereby offering convenient access for its customers and meeting the demands of an evolving retail landscape. Bluma Wellness plans to continue expanding its cultivation and distribution operations as the Florida market grows and may enter into other US states where the production, distribution and use of cannabis is permitted under state law.
Additional Information
The Company’s securities have not been and will not be registered under the U.S. Securities Act and may not be offered or sold in the United States or to a U.S. Person absent registration or an applicable exemption from the registration requirement. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Forward-Looking Information
This news release contains “forward-looking information” within the meaning of applicable Canadian securities laws including information relating to the planned opening of One Plant Florida’s Ocala, Florida retail dispensary and delivery hub, the planned opening of additional retail dispensaries and delivery hubs in Florida, the anticipated opening dates of such retail dispensaries and delivery hubs, the expansion of One Plant Florida’s home delivery and curbside pickup network, the potential for enhanced liquidity of the Company’s common shares in the United States as a result of the common shares being DTC eligible and the Company’s strategic business plans. Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements due to a variety of known and unknown risks and uncertainties including, without limitation: risks relating to cannabis being illegal under US federal law and risks of US federal enforcement actions related to cannabis activities; the Company's ability to comply with all applicable governmental regulations in a highly regulated business; negative changes in the political environment or in the regulation of medical cannabis in the state of Florida; the risk of any disruptions to the Company’s business and operations as a result of the COVID-19 pandemic; negative shifts in public opinion and perception of the cannabis industry and cannabis consumption; increasing competition in the industry; risks of product liability and other safety-related liability as a result of usage of the Company’s cannabis products; the Company’s limited operating history with no assurance of profitability; the ability of the Company to access future financing if needed or on terms acceptable to the Company; the risk of defaulting on its existing debt; risk of shortages of or price increases in key inputs, suppliers and skilled labor; the risks inherent in running agricultural operations such as pests and crop failure; loss of licenses; reliance on key personnel; cybersecurity risks; constraints on marketing products; fraudulent activity by employees, contractors and consultants; tax and insurance related risks and risk of litigation.
The forward-looking information in this press release are made as of the date of this release. The Company does not undertake any obligation to update forward-looking information except as required by applicable securities laws.