- Company successfully executes international sale and fulfilment of 100kg order of Bulk Medical Cannabis with Lyphe Australia
- Company also issues Deferred Share Units to Board of Directors as Quarterly Director’s Remuneration
TORONTO, July 04, 2023 (GLOBE NEWSWIRE) -- Entourage Health Corp. (TSX-V: ENTG) (OTCQX: ETRGF) (FSE: 4WE) ("Entourage" or the "Company"), a Canadian producer and distributor of award-winning cannabis products, announced today the successful sale, execution and fulfilment of its first international order of 100kg of bulk medical cannabis to Australia. The Company expands its medical portfolio in partnership with Lyphe Australia Pty Ltd. (“Lyphe”), a wholly-owned subsidiary of Lyphe Group Ltd., which specializes in medical cannabis access for patients. Lyphe will now offer four of the Company’s strains to their medical cannabis patients in Australia.
“We are thrilled to be able to diversify our business portfolio by exporting medical cannabis internationally,” said James Afara, Entourage’s Chief Operating Officer. “We are proud to have entered the global cannabis market and look forward to continuing to provide patients across Canada, and now Australia, with high quality cannabis and to further expand the Company’s revenue streams.”
The Company also announced today that, in accordance with the provisions of its omnibus equity incentive compensation plan (the “Omnibus Plan”), the Company has authorized the issuance of an aggregate of 1,600,000 deferred share units (“DSUs”) to the Board of Directors of the Company as part of the quarterly compensation for their services. The DSUs will vest on June 30, 2024 and are granted in lieu of certain cash compensation for services rendered during the second quarter of 2023.
Further details regarding the Omnibus Plan are available in the Company’s management information circular dated May 8, 2022, which is available on SEDAR.
About Entourage Health Corp.
Entourage Health Corp. is the publicly traded parent Company of Entourage Brands Corp., a licence holder producing and distributing cannabis products for both the medical and adult-use markets. The Company owns and operates a fully licensed 26,000 sq. ft. Aylmer, ON processing facility. With its Starseed Medicinal medical-centric brand, Entourage has expanded its multi-channeled distribution strategy. Starseed’s industry-first, exclusive partnership with LiUNA, the largest construction union in Canada, along with employers and union groups complements Entourage’s direct sales to medical patients. With the launch of Syndicate, Entourage now hosts another unique medical marketplace that offers patients a collective of Canadian micro-cultivators’ products, along with Entourage’s family of brands. Entourage’s elite adult-use product portfolio includes Color Cannabis and Saturday Cannabis – sold across eight provincial distribution agencies. It is the exclusive Canadian producer and distributor of award-winning U.S.-based wellness brand Mary’s Medicinals sold in both medical and adult-use channels. Under a collaboration with The Boston Beer Company subsidiary, Entourage is also the exclusive distributor of cannabis-infused beverages ‘TeaPot’ in Canada, which launched in summer 2022, starting in select provinces. In addition, Entourage also entered into an exclusive agreement with Irwin Naturals, a renowned nutraceutical and herbal supplement formulator of popular branded wellness products sold across North America. The new line of CBD soft gels is now available on Starseed’s medical platform.
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Twitter: Entourage, Color Cannabis, Saturday Cannabis, Starseed & Syndicate
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For Investor & Media Enquiries:
Catherine Flaman
Senior Director, Communications & Corporate Affairs
416-910-0279
Catherine.flaman@entouragecorp.com
Forward Looking Information This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation which are based upon Entourage's current internal expectations, estimates, projections, assumptions and beliefs and views of future events. Forward-looking information can be identified using forward-looking terminology such as "expect", "likely", "may", "will", "should", "intend", "anticipate", "potential", "proposed", "estimate" and other similar words, including negative and grammatical variations thereof, or statements that certain events or conditions "may", "would" or "will" happen, or by discussions of strategy.
The forward-looking information in this news release is based upon the expectations, estimates, projections, assumptions, and views of future events which management believes to be reasonable in the circumstances. Forward-looking information includes estimates, plans, expectations, opinions, forecasts, projections, targets, guidance, or other statements that are not statements of fact. Forward-looking information necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; loss of markets; future legislative and regulatory developments; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the cannabis industry in Canada generally; the ability of Entourage to implement its business strategies; the COVID-19 pandemic; competition; crop failure; and other risks.
Any forward-looking information speaks only as of the date on which it is made, and, except as required by law, Entourage does not undertake any obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for Entourage to predict all such factors. When considering this forward-looking information, readers should keep in mind the risk factors and other cautionary statements in Entourage’s disclosure documents filed with the applicable Canadian securities' regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in the disclosure documents could cause actual events or results to differ materially from those described in any forward-looking information.
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