CALGARY, Alberta, Aug. 27, 2021 (GLOBE NEWSWIRE) -- Sugarbud Craft Growers Corp. (TSXV: SUGR, SUGR.DB, SUGR.WR, SUGR.WS, SUGR.WT) (OTCQB: SBUDF) ("Sugarbud" or the "Company") is pleased to announce that it has entered into a Sales, Marketing, Supply and Distribution agreement (the "Agreement") with ROSE LifeScience Inc. ("ROSE") for the Province of Québec.

Supply Agreement

Under the terms of the Agreement, Sugarbud will be partnering with ROSE to bring Sugarbud grown premium craft cannabis to the province of Québec under the ROSE brand ELEKT Cannabis. The Agreement with ROSE is subject to customary regulatory and new product notification requirements.

"We are thrilled to be partnering with ROSE to bring select Sugarbud grown premium craft cannabis strains to the province of Québec under the ELEKT Cannabis brand. The entire ROSE team is committed to delivering exceptional cannabis products and services to Québecers and we are very proud to be collaborating with ROSE directly to do so," – stated Sugarbud President and CEO, John Kondrosky.

"We are excited with the opportunity to introduce unique genetics to the Québec market and to partner with Sugarbud, a cannabis company that brings Western Canada's long tradition of exceptional select craft cannabis. What’s even more exciting for us is the ability to involve the consumers in this, thanks to this partnership we were able to give Québecers the opportunity to vote on the strain, we truly involved consumers in the product selection process to ensure we meet their needs,” said Davide Zaffino, President and Chief Executive Officer at ROSE LifeScience Inc.

The first Sugarbud grown strain to launch under the ELEKT Cannabis brand – Krypto Chronic #2 – is already available for recreational purchase throughout Québec.

About Sugarbud

www.sugarbud.ca

Sugarbud is an Alberta-based, consumer-driven boutique craft cannabis company focused on the cultivation and production of superior, select-batch, craft cannabis products. Our vision and mission are to become a trusted and well-respected consumer brand renowned for providing exceptional high-quality craft cannabis products to legal markets by delighting the most discerning of cannabis consumers.

The Sugarbud Craft Cannabis Collection offers consumers "Hand-Crafted Cannabis for a New Era". The Company is proudly Albertan and is proud to share Western Canada's long tradition of exceptional craft cannabis with the most discerning of enthusiasts. Sugarbud strives to define the intersection of product craftsmanship, quality, and value for consumers in the Canadian craft cannabis space.

Sugarbud Craft Cannabis products are currently available to adult recreational consumers in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Québec, Yukon Territory and nationally to registered medical patients through CannMart.com.

Websites:
http://www.sugarbud.ca/
http://www.craftcannabiscollection.ca

Address: Suite 620, 634 - 6th Avenue S.W., Calgary, Alberta T2P 0S4

About ROSE LifeScience Inc.

www.roselifescience.ca

As a private Québec company founded by a group of seasoned executives with extensive experience in highly regulated industries, ROSE LifeScience is committed to ensuring that Québec benefits from the responsible production, sale and consumption of cannabis. From cannabis cultivation to marketing and logistics, ROSE plays a key role in the Québec market. ROSE not only produces remarkable cannabis, but also offers complete marketing service to selected producers to encourage a diversified offer on the Québec market. ROSE is also the company behind the micro-producer collective DLYS.

For ROSE media inquiries, please contact:

Valentine Vaillant
VP, Marketing and Sales
[email protected]
438 989-6654

Forward Looking and Cautionary Statements

This news release contains forward-looking statements. More particularly, and without limitation, this news release contains statements concerning: Sugarbud's assessment of future plans, operations and cannabis cultivation, including sales, marketing and distribution opportunities; the Company's ability to remain operating in accordance with developing public health efforts to contain COVID-19; product quality; partnerships, including with ROSE and CannMart; the development, production and sale of cannabis derivative products, including vape cartridges; applying for an amendment to its sales license to permit direct sale of cannabis extracts; future growth; and the ability to build shareholder value. When used in this document, the words "will," "anticipate," "believe," "estimate," "expect," "intent," "may," "project," "should," and similar expressions are intended to be among the statements that identify forward-looking statements. The forward-looking statements are founded on the basis of expectations and assumptions made by Sugarbud. Forward-looking statements are subject to a wide range of risks and uncertainties, and although Sugarbud believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements including, but not limited to: currently contemplated expansion and development plans may cease or otherwise change; production of cannabis may be lower than expected, Sugarbud may not obtain the required approvals from Health Canada, including with respect to an amended sales license; demand for Sugarbud's products may be lower than anticipated; results of production and sale activities; results of scientific research; changes in prices and costs of inputs; demand for labour; demand for products; failure of counter-parties to perform contractual obligations; failure to maintain consumer brand recognition and loyalty of customers; reliance on relationships with wholesalers and retailers for distribution of products and failure to maintain strategic business relationships; intense competition, including from illicit sources; uncertainty and continued evolution of markets; product liability litigation; reliance on information technology; infringement on intellectual property; failure to benefit from partnerships; sensitivity of end-customers to increased sales taxes and economic conditions; failure to comply with certain regulations; departure of key management personnel or inability to attract and retain talent; actions and initiatives of federal and provincial governments and changes to government actions, initiatives and policies and the execution and impact thereof; the ability to implement corporate strategies; the state of domestic capital markets; the ability to obtain financing; changes in general market conditions; industry conditions and events; the size of the medical marijuana market and the recreational marijuana market; government regulations, including future legislative and regulatory developments involving medical and recreational marijuana; construction delays; risks inherent in the agricultural business, such as insects, plant diseases and similar agricultural risks which can have a significant impact on the size and quality of the harvest of cannabis crops; competition from other industry participants; and other factors more fully described from time to time in the reports and filings made by Sugarbud with securities regulatory authorities. In addition, the Company cautions that current global uncertainty with respect to the spread of the COVID-19 virus and its effect on the broader global economy may have a significant negative effect on the Company. While the precise impact of the COVID-19 virus on the Company remain unknown, rapid spread of the COVID-19 virus may have a material adverse effect on global economic activity, and can result in volatility and disruption to global supply chains, operations, mobility of people and the financial markets, which could affect interest rates, credit ratings, credit risk, inflation, business, financial conditions, results of operations and other factors relevant to the Company. Please refer to Sugarbud's most recent annual information form and management's discussion and analysis for additional risk factors relating to Sugarbud, which can be accessed under Sugarbud's profile on www.sedar.com. Except as required by applicable laws, Sugarbud does not undertake any obligation to publicly update or revise any forward-looking statements.

Neither the TSXV nor its regulation services provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.