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Wildflower Signs MOU to Enter LA Delivery Market
VANCOUVER, British Columbia, Oct. 01, 2018 (GLOBE NEWSWIRE) -- Wildflower Brands Inc. (CSE: SUN, OTC:WLDFF) (the “Company”), is excited to announce that they have received a Memorandum of Understanding (MOU) with one of the leading cannabis delivery technology companies in California. The MOU is the first step for Wildflower to activate delivery from the California licenses that were acquired earlier this year. Wildflower’s intends to service the western part of the Los Angeles area.
Statistics from online sources quote delivery accounting for as much as 30% of sales pre-legalization. By some estimates medical marijuana alone is a $1 billion market in the city of Los Angeles. With a population of close to 19 million residents in the Los Angeles area, this is the most dense legal cannabis market on the planet.
In anticipation of entering the lucrative delivery business, work has begun on building out a delivery logistics center within an existing LA area licensed facility. Further, Wildflower has started looking to hire a team of delivery drivers and will be bringing in a substantial inventory of new products to service this lucrative market.
William MacLean, CEO of Wildflower says, “Cannabis delivery has been the method of purchasing cannabis that many Californians are familiar with. We are going to work with one of the most experienced groups that have created a state-of-the-art platform to provide consumers with a premium customer experience. This relationship is one of the many strategies to monetize our LA area licenses. We expect to see a significant revenue stream once up and running.”
ABOUT WILDFLOWER BRANDS
Wildflower Brands is a company headquartered in Vancouver building reputable brands and quality products that incorporate the synergistic effects of plants and their extracts.
On Behalf of the Board of Directors
Director and CEO
Cautionary and Forward-Looking Statements
This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward‐looking statements or information. Forward‐looking statements and information are often, but not always, identified by the use of words such as "appear", "seek", "anticipate", "plan", "continue", "estimate", "approximate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "would" and similar expressions.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward‐looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with the marijuana industry in general such as operational risks in growing; competition; incorrect assessment of the value and potential benefits of various transactions; ability to access sufficient capital from internal and external sources; failure to obtain required regulatory and other approvals and changes in legislation, including but not limited to tax laws and government regulations. Accordingly, readers should not place undue reliance on the forward‐looking statements, timelines and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive.
The forward‐looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws or the Canadian Securities Exchange. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
The Canadian Securities Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved of the contents of this press release.
CONTACT: Wildflower Brands Inc. 400-1505 West 2nd Ave, Vancouver, B.C., V6Y 3Y4 Tel: (604) 559-0420 www.wildflowerbrands.co email@example.com