Sproutly Advances its Health Canada License by Applying for an Amendment to Allow for the Production of Oils

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(TheNewswire)



VANCOUVER, B.C. / TheNewswire / November 1, 2018 – Sproutly Canada, Inc. (CSE: SPR) (OTCQB: SRUTF) (FRA: 38G) (OTCQB: SRUTF) (“Sproutly" or the “Company”) is pleased to announce that its wholly-owned subsidiary Toronto Herbal Remedies Inc. (“THR”), a licensed producer under the ACMPR, located in the Greater Toronto Area (the “Cultivation Facility”) has submitted an “addition of activity” in the month of October, to its Health Canada license, in order to produce cannabis oils. Sproutly also updates, that’s it cannabis plants are in a very healthy state as it progresses through its cultivation phase.  

“The submission to expand our license through Health Canada with our application to produce oils is a key milestone in moving our business forward” said Keith Dolo, President and CEO of Sproutly. “This is a clear demonstration of our team’s efforts and ability to meet our strategic targets by year-end. This sets in motion our broader strategy to become a leader in the cannabis consumer product space.”

"We filed the results of our second quarter on Sedar on October 30, 2018.  It was a pivotal quarter for us as we finalized a number of significant developments in the evolution of Sproutly.  In this quarter we completed our public listing on the CSE, obtained our cultivation license from Health Canada, and completed a transformational acquisition of Infusion Biosciences Canada Inc. and SSM Partners Inc.”, stated Keith Dolo, President and Chief Executive Officer of Sproutly.  “With the completion of these milestones and the proceeds of our recent $20 million financing, we are well positioned to execute on our plans to advance the business in order to scale and become the leading supplier to the cannabis beverage and edibles market.

About Sproutly Canada, Inc.

 

Sproutly’s core mission is to become the leading supplier to the cannabis beverage and edibles market. Our Toronto based, ACMPR licensed facility was built to cultivate pharmaceutical grade cannabis to supply a technological breakthrough in producing and formulating the first natural, truly water-soluble cannabis solution. Our water-soluble ingredients and our bio-natural oils will deliver revolutionary brands to international markets that are clamouring for well-defined commercial products. Sproutly’s business focus is to execute on partnerships with local and globally established consumer brands to leverage their existing customer bases, further expand brand loyalty, assist with marketing, and support distribution networks to deliver this scientific breakthrough with speed and efficiency worldwide.

 

For more information on Sproutly, please visit www.sproutly.ca.

Contact:

Keith Dolo, Chief Executive Officer of Sproutly Canada

Email:  investorrel[email protected]

 

Forward-Looking Statements

Cautionary Note Regarding Forward-Looking Statements: This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws or forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to future events or future performance and reflect the expectations or believes regarding future events of management of Sproutly Canada.  Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things, the date of trading of the Sproutly Shares on the CSE and final regulatory approvals. These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, and other factors, many of which are beyond the control of Sproutly Canada. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

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