VANCOUVER, British Columbia, June 05, 2018 (GLOBE NEWSWIRE) — Wildflower Brands Inc. (CSE:SUN) (the “Company”) is continuing the integration of its recently acquired California licenses into its existing business. Work is well underway to construct manufacturing facilities in order that we may launch the full line up of Wildflower products into the California regulated market. Further, construction is almost complete on our distribution center in order to activate our distribution license. This will permit the Company to distribute third party products into the City of Los Angeles. As of July 1, all growers and manufacturers will have to distribute their products into Los Angeles through one of 25 distribution licenses. Retail sales continue to grow as the number of illegal dispensaries goes down. In LA last week 32 illegal shops were closed and 142 people charged with criminal offenses. Sales are expected to grow significantly once all illegal operations are shuttered.
Online sales have grown over 50% in the last 2 months as Wildflower launched its new e-commerce focused website at https://buywildflower.com. According to Shopify, Wildflower is in their top 4% in growth of companies launching their e-commerce sites at the same time as Wildflower.
In Washington, Wildflower is about to move into a newly built building where production will be substantially expanded. With the growth of online sales and the ongoing increases in the number of retailers in Washington growing to 128 and 49 retailers in other parts of the US carrying Wildflower products, product demand is expected to more than double in the next few months.
William MacLean, CEO of Wildflower says, “The acquisition of our California licenses has been transformative for the Company as it is essential for Wildflower to operate in the world’s largest cannabis market. However, the expansion in Washington is just as transformative as we are seeing exponential growth for CBD products in the health and wellness market, which is several times the size of the regulated cannabis market. We see this growth driving Wildflower to the next level.”
Wildflower is a cannabis company focused on developing and designing branded cannabis products. Wildflower sells its CBD+ products online and to retailers throughout the US and also produces and markets its THC products in regulated cannabis jurisdictions.
On Behalf of the Board of Directors
Director and CEO
THIS NEWS RELEASE, PROVIDED PURSUANT TO APPLICABLE CANADIAN REQUIREMENTS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS ABSENT REGISTRATION OR APPLICABLE EXEMPTION FROM REGISTRATION REQUIREMENTS.
Cautionary and Forward-Looking Statements
This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward‐looking statements or information. Forward‐looking statements and information are often, but not always, identified by the use of words such as “appear”, “seek”, “anticipate”, “plan”, “continue”, “estimate”, “approximate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe”, “would” and similar expressions.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward‐looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with the marijuana industry in general such as operational risks in growing; competition; incorrect assessment of the value and potential benefits of various transactions; ability to access sufficient capital from internal and external sources; failure to obtain required regulatory and other approvals and changes in legislation, including but not limited to tax laws and government regulations. Accordingly, readers should not place undue reliance on the forward‐looking statements, timelines and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive.
The forward‐looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws or the Canadian Securities Exchange. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
The Canadian Securities Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved of the contents of this press release.
CONTACT: 400-1505 West 2nd Ave, Vancouver, B.C., V6Y 3Y4 Tel: (604) 559-0420 www.wildflowerUS.com email@example.com