CALGARY, Alberta, May 31, 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 Mr. John Kondrosky, the Company’s President and CEO, will be presenting at the Benzinga Virtual Cannabis Capital Conference (the “Conference”) taking place on June 3-4, 2021.
Sugarbud invites shareholders, investors, advisors, and analysts to attend the real-time, interactive investor presentation. This will be a live, online event where investors are invited to learn more about Sugarbud and ask the Company questions within the allowed time. Sign up to get a free spectator pass for the event: https://events.benzinga.com/ccc-free-registration.
DATE: Friday, June 4th
TIME: 11:55 AM – 12:20 PM EST /9:55 AM – 10:20 AM MST
New Product Launch
As part of the ongoing expansion of the Sugarbud Craft Cannabis Collection, the Company is also pleased to announce the launch of two new and very unique strains to the Canadian market – Mule Fuel and Krypto Chronic #2. Both strains are distinct high-potency, high-terpene phenotypes with a total THC range between 20-25% and terpene profles between 2-5%.
Sugarbud Mule Fuel has a strain lineage of GMO x Lurch presenting an exceptional Myrcene-dominant terpene profile along with Limonene, Pinene and Caryophyllene. Consumers can expect to see large, dense buds with sticky sugary green and orange hues. Earthy spice and pronounced fuel aromas together with notes of meadow flowers, grass and citrus. All are hallmarks of this very unique strain.
Like Mule Fuel, Sugarbud Krypto Chronic #2 was phenotyped from the Company’s extensive genetic library and is exclusive to Sugarbud. With a strain lineage of Alien Cookies x Fruity Pebbles OG x Jet Fuel Gelato, Krypto Chronic #2 presents a Terpinolene forward terpene profile with aromas of sweet citrus and ice cream cake, wild musk and sweet diesel fuel. Consumers can expect medium flower size, dense sugary buds with dark hues of purple, green and orange, coated in greasy, high density trichomes.
“We are thrilled to be launching these very exciting new strains to the Canadian market,” stated Sugarbud President and CEO, John Kondrosky.
“In addition to providing consumers with the potency profiles they want, our House-Style and approach to premium craft cannabis emphasizes dense sugary buds, exceptional terpene forward aromas and smooth flavors. It is this commitment to total product excellence that sets us apart from many of our competitors. We pay close attention to the details and we pride ourselves on delivering an exceptional first impression and a top-quality product experience to our consumers each and every time. Hand-harvested, hang-dried, and cold-barrel-cured for up to 28 days – our signature drying and curing process allows our flower to reach its full potential – preserving and enhancing the flavor-rich terpenes and potency in every bud. Meticulously hand-finished and hand-packed in Sugarbud’s signature black glass container – we take our time and we take pride with every gram. Mule Fuel and Krypto Chronic #2 without question embody this philosophy and our commitment to consumer satisfaction,” added Mr. Kondrosky.
Mule Fuel and Krypto Chronic #2 are available now nationwide to registered medical patients through Cannmart.com in a 3.5g format and the Company also expects these two new strains to be available online and at select authorized retailers in early Q3.
The Company also announces the completion today of its previously announced shares for services agreements with certain directors and an advisor of the Company, pursuant to which, Sugarbud issued a total of 2,650,000 common shares (the “Shares) at a deemed price of $0.05 per Share in satisfaction of accrued portions of the cash retainers owing to such persons in the aggregate amount of $132,500 (the “Transaction”). The Transaction is considered a “related party transaction” pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is relying on an exemption from the formal valuation and minority shareholder approval requirements of MI 61-101 on the basis that the fair market value of the Shares issued under the Transaction does not exceed 25% of the market capitalization of the Company.
“Hand-Crafted Cannabis for a New Era”
Sugarbud is an Alberta-based, consumer-driven boutique craft cannabis company – focused on the cultivation and production of exceptionally high-quality products for the most discerning of cannabis consumers.
Sugarbud’s Craft Cannabis Collection strives to define the intersection of product craftsmanship, quality and value for consumers in the Canadian recreational cannabis space.
We Take Pride, We Take Our Time…………. Experience the Difference.
About Benzinga Cannabis Capital Conference
Benzinga’s virtual Cannabis Capital Conference is guaranteed to offer participants all the benefits of an immersive and robust in-person conference from any remote location. The Conference will feature an interactive forum of live presentations from top CEOs, investors, and leaders in the cannabis space. Don’t miss this opportunity to connect with THE cannabis movers and shakers from across the globe.
For more information and/or to register for the conference please visit: https://events.benzinga.com/ccc-free-registration
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 and processing, including sales, marketing and distribution opportunities; product quality; the development, production, sale and distribution of Sugarbud’s Craft Cannabis Collection, including new product lines and the characteristics thereof; future growth; and customer satisfaction. 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; ability to ship cannabis products may be lower than expected; 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 continue to 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 continue to 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.
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