VANCOUVER, British Columbia, May 12, 2021 (GLOBE NEWSWIRE) -- BC Craft Supply Co Ltd. (the “Company” or “BC CRAFT”) (CSE: CRFT) (OTC:CRFTF) (FSE:ZZD1) is pleased to announce that it has entered into a marketing services agreement with Think AHLOT Corporation (“AHLOT”) dated May 10, 2021 (the “Marketing Agreement”) and its wholly owned subsidiary Medcann Health Products Ltd. (“Medcann”) has entered into an agreement with 9869247 Canada Limited D.B.A Safari Flower Co. (“SAFARI”) dated May 10, 2021 (the “Distribution and Supply Agreement”) to produce and distribute craft quality half gram pre-rolls under BC Craft’s Grizzlers™ Brand in both single and 7 unit packs.
The Marketing Agreement with AHLOT is for a 1-year term and may be terminated upon mutual consent of both parties or breach of fundamental obligations under the agreement. AHLOT will provide the Company with a go-to-market strategy, product development, marketing and sales support for BC Craft’s Grizzlers™ brand. The terms of the Marketing Agreement call for a royalty payment equal to 10% of the net revenue earned by the Company during the applicable royalty period, plus any applicable taxes. AHLOT and the Company are arm’s length parties to each other.
The Distribution and Supply Agreement with SAFARI is for a 2-year term and the completion of orders totaling at 1,200 kg of dried cannabis unless terminated earlier as provided for under the agreement. If within 36 months after commencement of the agreement, the Company has not fulfilled its obligations to deliver 1,200 kg of dried cannabis, SAFARI shall have the option to terminate the agreement and require the Company to pay termination fee equal to 1,200 less the number of kg actually processed x 1500. SAFARI will transform the Company’s bulk cannabis into cannabis products by packaging and labelling the bulk cannabis in a form compliant for sale to consumers and sale to selling processors or distributors. Services under the Distribution and Supply Agreement are set at predetermined rates that are comparable to current market rates for premium cannabis processing services. SAFARI and Medcann are arm’s length parties to each other.
BC Craft is happy to announce that Grizzlers™ brand pre-rolls have been accepted by the AGLC in both packaging formats, and a Notice to Purchase has been issued by the OCS for the 7 unit multi-pack as part of their latest product call. Grizzlers™ will be made available in both Alberta and Ontario beginning in June.
About Grizzlers
Grizzlers™ was highly successful in the legacy cannabis space, with a great degree of brand equity driven by national distribution and a fair pricing strategy which the Company plans to maintain in the adult recreational cannabis market.
Grizzlers™ exemplifies craft quality cannabis at a great value, and the Company is excited to make a legacy product available to Canadian cannabis consumers under a brand and format which they know and love.
Greg Pantelic, CEO of AHLOT says: “We first experienced Grizzlers™ in the legacy market, where it was a top-performing and extremely memorable pre-roll product. AHLOT is excited to tap into that nostalgia and commercialize the Grizzlers™ brand, allowing Canadians to easily discover - or re-discover - Grizzlers™ in the legal market.”
Matthew Watters, CEO of BC Craft stated, “This is a celebration for the Company as we execute our vision of launching legacy brands in the legal space. Realizing revenue from this partnership with AHLOT and SAFARI is a critical step in our journey to be the premier aggregator helping legacy brands go to market. With the help of our new partners, we look forward to continuing to grow the Grizzlers™ brand into provincial retail markets for the good of our investors and for the good of cannabis.”
About Think AHLOT Corporation
AHLOT is an award-winning cannabis marketing company that helps consumers easily discover new cannabis brands and products. Best known for its unique marketing channels, including the AHLOT Cannabis Collections multipacks, AHLOT collaborates with cannabis brands to increase awareness and sales through innovative go-to-market strategies, integrated marketing campaigns and unique, trial-friendly product formats. All AHLOT cannabis products have been evaluated by AHLOT’s community members comprising of Canadian consumers, budtenders and AHLOT’s Cannabis Curation Committee.
About 9869247 Canada Limited D.B.A Safari Flower Co.
The Safari Flower Company is a standard cannabis cultivator and processor in Ontario focusing on smart craft cannabis batch formats of new genetic entrants for the Canadian market.
Their purpose-built facility, located beside an actual Safari Animal Park in Fort Erie, Ontario, holds ten micro-size flowering rooms of approximately 2100 sq ft canopy space, focusing on producing white label crops for other established producers and brands across Canada, including some of the new, unique live rosin extracts that have been reaching consumer shelves in the past few months.
While the company boasts of an advanced facility that integrates numerous cost saving and environmentally friendly approaches to production and contract manufacturing - such as cogeneration power, heat and condensation recovery, staggering light cycles and composting much of their waste.
For further information please contact Matthew Watters, Director, at (604) 687-2038.
About BC Craft Supply Co. Ltd.
Based in Vancouver, British Columbia, BC Craft Supply Co. has aggregated the best legacy-era talent from Canada's craft cannabis industry, which boasts an international reputation. The team at BC Craft supports the most trusted cannabis cultivators in Canada to transition into their supply chain, bringing with them their unique cultivars and years of experience with the plant. In exchange for support with licensing, compliance and distribution, cultivators will sign on as a BC Craft supplier. This makes BC Craft uniquely positioned to be the premium cannabis brand in Canada.
BC Craft’s subsidiary, Medcann Health Products Ltd., is a Health Canada licensed cultivator and processor with a license to sell medical cannabis products in Canada.
Click here to connect with BC Craft Supply Co. on Instagram, Twitter, LinkedIn and Facebook, and click here to find more information on the Company.
CONTACT
Matthew Watters, Direct Phone: 604-687-2038
Email: mwatters@bccraftsupplyco.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking information in this press release includes statements relating to the services to be provided by AHLOT and SAFARI and the Company’s ability to be a premier aggregator in helping growers, brands and innovative products go to market. Although the Company believes that the material factors, expectations and assumptions expressed in such forward- looking statements are reasonable based on information available to it on the date such statements were made, no assurances can be given as to future results, levels of activity and achievements and such statements are not guarantees of future performance.
Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. 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. The forward-looking information contained in this release is expressly qualified by the foregoing cautionary statements and is made as of the date of this release. Accordingly, readers should not place undue reliance on forward-looking statements. BC Craft disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.