Vancouver, British Columbia – (Commercial wire) – Growing Leader in Infused Cannabis Drinks, Bevganna Enterprises Inc. (CSE: PEV, K: PVNNF, FSE: 7BC) (“Bevganna”Or“Company”) The application for a Standard Process License (SPL) was confirmed today by Health Canada in the final stages of in-depth review.
Bevkanna is pleased to provide the following commentary to provide further clarity and confirmation as to the expected receipt of the Standard Processing License issued by its Health Canada. Bevkanna confirmed that Health Canada is in the final stages of an in-depth review, and the company expects to receive a receipt soon. The company submitted its formal responses to Health Canada’s additional information request (RMI) on January 12, 2021, and the receipt was confirmed on January 13, 2021 by Health Canada Appointed Reviewer. Despite a short delay in Bevkanna, Health Canada has confirmed that in the licensing process, final discussions regarding the issuance of a standard processing license will now be completed.
The application is expected to be forwarded to the Health Canada Management Review Board for final signing and the license will be issued immediately. Once granted, Bevkanna will be given full accreditation to begin production of cannabis-infused products at a state-of-the-art high-capacity refrigeration plant in Osho, and begin production of its white-label products. The commercialization of its internal brands by licensed Canadian retailers will begin in the first quarter.
“We are delighted that our standard processing license application is on track for immediate approval,” said Marcello Leon, CEO of Bevkanna. “Our SPL receipt is an important milestone in our Canadian manufacturing and distribution strategy. Producing and distributing high quality cannabis-infused beverages in Canada is a key pillar of our evolution as an all-inclusive healthcare and healthcare product company for our in-brands and our white-label customers.” We look forward to taking it to the next level. ”
Among the assets expected to close in February 2021, including M 37M +, Bevcanna acquired Naturo Group Investments Inc., the company’s pure treatment e – commerce platform, and Bevcanna’s strategic North American distribution partnership with US – based Geef brands are pillars of the other three companies’ transformation strategy.
Bevkanna will soon assume the unique position of being the only fully licensed, indoor and white-label beverage manufacturing company that distributes regular and cannabis-based beverage and health products through the global, multi-channel distribution networks of traditional and cannabis sales channels. . The company is actively engaged in negotiations to finalize firm agreements with several new white-label customers and to formalize supply relations with provincial distributors, while also focusing on trade readiness for Q1 and Q2 Canadian releases. Label products and Geef-branded product lines.
About Bevganna Enterprises Inc.
Bevganna Enterprises Inc. (CSE: PEV, ODQB: PVNNF, FSE: 7BC) Cannabis-infused beverages and consumer products -Developes and manufactures brands and white label customers. With decades of experience creating, branding and distributing iconic brands that resonate with consumers worldwide, the team demonstrates an unparalleled expertise in the growing cannabis drink segment. Based in British Columbia, Canada, Bevkanna owns exclusive rights to a beautiful fountain, with world-class 40,000 sq ft, access to HACC certified production facilities, and current bottle capacity up to 210m bottles per year. Bevkanna also recently acquired Pure Therapy, a US natural health and wellness e-commerce site. Bevkanna’s vision is to be a global leader in innovation.
On behalf of the Board of Directors:
John Campbell, Chief Financial Officer and Chief Strategic Officer
Director, Bevganna Enterprises Inc.
Forward looking information
This press release may contain information that looks forward to the meaning of Canadian securities law relating to the Company’s business. Perspective is based on some key expectations and assumptions made by the information company management, including related statements: including its application for a standard processing license, expected receipt and time; Once licensed, Bevkanna will be fully authorized to begin production of cannabis-infused products at its industry-leading high-end beverage manufacturing facility, and will begin production for its white-label customers and commercialize its internal brands by licensing to Canadian retailers in the first quarter; Major acquisition of Naturopro Group Investments Inc., Pechua expected February 2021, including $ 37M + assets; Bevkanna is in talks to finalize firm agreements with several new white-label customers and formalize supply relations with provincial distributors, while also focusing on business readiness for Q1 and Q2 Canadian releases. And Geef-branded product lines; And other reports related to the company’s business plans.
There are perspective statements based on certain assumptions regarding the granting of licenses by Health Canada to a company under the Cannabis Act; Future positive legislative, tax and regulatory developments in relation to cannabis; Continuous high-regulatory ban entry for cannabis-infused beverages; Successful and timely commercialization of the company’s products; Successful and timely negotiation of various agreements; The previously announced acquisition of Naturo Group Investments Inc.; And expectations for the future growth of recreational cannabis products. If the company considers these assumptions to be reasonable based on the information currently available, they may be proven to be incorrect. Readers are warned not to place unnecessary credibility in perspective statements. The company’s assumptions, while considered reasonable at the time of manufacture, may prove to be incorrect. In addition, perspective orientation statements necessarily include known and unknown risks, of which, without limitation, the company is not licensed by Health Canada; The parties cannot meet the conditions for the acquisition of Nature, including the consent of the partners of one or both parties; Risks associated with general economic conditions; Climates and risks associated with agriculture; Changes in consumer preferences; Adverse career events; Future legislative, tax and regulatory developments; Inability to access adequate capital from internal and external sources, and / or in adequate terms; Inability to implement business strategies; Competition; Currency and interest rate fluctuations and other risks. Readers are warned that the above list is not exhaustive. Readers are further warned not to place unnecessary credibility in forward-looking statements because there is no guarantee that the plans, objectives or expectations they have placed will occur. Such information, although considered reasonable by management during preparation, may be proven to be incorrect and the actual results may differ materially from what was expected. For more information on prospects and real results risk, uncertainties and assumptions that may differ materially, please refer to the company’s public filings available at SEDAR www.sedar.com. The perspective statements in this news release are explicitly qualified by this warning statement and reflect our expectations as to its date, and are subject to change thereafter. The Company disclaims any purpose or obligation to update or modify any forward-looking report, except as required by new information, future events or the law, and the Company shall not be liable for any disclosure of any other information. The company mentioned here.
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