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Emblem enters into a supply agreement with operator of the Ontario Cannabis Store for high quality, Ontario-grown cannabis
Emblem selected as one of 26 licensed producers to supply Ontario for adult-use market
PARIS, Ontario, Aug. 21, 2018 (GLOBE NEWSWIRE) -- Emblem Corp. (TSXV:EMC) (TSXV:EMC.WT) (“Emblem” or the "Company") is pleased to announce that its wholly owned subsidiary, Emblem Cannabis Corporation, one of Canada’s leading licensed producers of medical cannabis, has entered into an agreement with the operator of the Ontario Cannabis Store (“OCS”) to supply the province with locally-grown, premium cannabis products under Emblem’s adult-use brand, Symbl.
Upon the legalization of recreational cannabis, which is expected to be effective on October 17, 2018, a curated range of dried flower strains under the Symbl brand will be available via the OCS website, and in private retail stores once a legislative framework is in place and such stores are open for business – anticipated for April 2019. Symbl is the first of several brands that Emblem intends to create to target a number of diverse consumer segments.
“Emblem’s supply agreement with Ontario signals continued momentum for our business. Our partnership with the OCS opens up an important distribution channel to get Emblem’s brands and products to market in Canada’s most-populated province,” said Nick Dean, CEO, Emblem Corp. “Emblem has a steadfast focus on building a business for the long-term through product innovation, developing strong brands and enhanced distribution. We anticipate Ontario could constitute up to 40 per cent of total cannabis sales in Canada, making it an incredibly important market for Emblem. As a proud Ontario-based licensed producer, we are committed to providing Ontario’s cannabis consumers with a trusted source of high-quality cannabis products and brands that will meet their needs now and into the future.”
The agreement with the OSC marks Emblem’s sixth major supply agreement, including partnerships secured with the Alberta Gaming, Liquor & Cannabis Commission (AGLC) to supply wholesale to Alberta; Fire & Flower – an Alberta-based cannabis retailer expected to have a strong presence in that province; Shopper’s Drug Mart nationally, subject to receipt of its license from Health Canada; German pharmaceutical wholesaler Acnos Pharma GmbH through a joint venture with Emblem; and GreenSpace Brands, a highly regarded consumer packaged goods company. Emblem is continuing to look at opportunities for supply agreements in other provinces and internationally.
“Leveraging Emblem’s existing strength in the medical market, we’re excited to introduce Ontarians of legal age to Symbl. Symbl was created to offer a thoughtful brand experience for those seeking cannabis for recreational use that fits within a balanced lifestyle,” said Maria Guest, CMO, Emblem Corp. “As Ontarians begin to navigate the new cannabis landscape, we believe that Symbl will become a trusted source for product information and cannabis education. We look forward to working with the province to build the foundation for a safe and responsible marketplace for consumers.”
Upon legalization for adult-use, Symbl will offer a range of select strains in dried flower. The line will cater to the full spectrum of Canadians who plan to explore cannabis with products that address individual needs and support a positive and healthy cannabis experience. Symbl is the first brand in the adult-use cannabis division of Emblem. More information is available at www.symbl.ca.
Emblem, through its wholly-owned subsidiary Emblem Cannabis Corporation, is a fully integrated licensed producer and distributor of medical cannabis and cannabis derivatives in Canada under the Access to Cannabis for Medical Purposes Regulations (ACMPR). Emblem’s state-of-the-art indoor cannabis cultivation facility and research and development laboratory is located in Paris, Ontario. Led by an experienced management team of healthcare executives, accomplished marketing professionals, and cannabis experts, Emblem is focused on driving shareholder value through product innovation, brand relevance, and access to patient and consumer channels. Emblem is also the parent company of GrowWise Health Limited, one of Canada’s leading cannabis education services. Emblem trades under the ticker symbol EMC on the TSX Venture Exchange.
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This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as "forward-looking statements") within the meaning of applicable Canadian securities laws. All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "achieve", "could", "believe", "plan", "intend", "objective", "continuous", "ongoing", "estimate", "outlook", "expect", "may", "will", "project", "should" or similar words, including negatives thereof, suggesting future outcomes. Management of the Company believes the expectations reflected in such forward-looking statements are reasonable as of the date hereof but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. Various material factors and assumptions are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking statements. Those material factors and assumptions are based on information currently available to the Company, including data from publicly available governmental sources as well as from market research and industry analysis and on assumptions based on data and knowledge of this industry which Emblem believes to be reasonable. However, although generally indicative of relative market positions, market shares and performance characteristics, such data is inherently imprecise. While Emblem is not aware of any misstatement regarding any industry or government data presented herein, the medical marijuana industry involves risks and uncertainties and is subject to change based on various factors.
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