World News: 12:00 GMT Friday 12th October 2018. [Emblem Corp. via Globe Newswire via SPi World News]
TORONTO, Oct. 12, 2018 (GLOBE NEWSWIRE) -- (TSXV: EMC, OTCQX:) (“Emblem” or the "Company") today announced that its wholly-owned subsidiary, Emblem Cannabis Corporation, one of Canada’s leading licensed producers of medical cannabis, has received approval to supply British Columbia and Saskatchewan with premium cannabis products under Emblem’s adult-use brand, Symbl.
In B.C., Emblem has been approved to supply cannabis to the BC Liquor Distribution Branch (“BCLDB”) – the sole, wholesale distributor of non-medical cannabis for the province that will operate standalone, public retail stores and provide online sales. In Saskatchewan, Emblem has been approved by the Saskatchewan Liquor and Gaming Authority (“SLGA”) to supply cannabis to the province’s private retail market. A curated range of Symbl-branded dried flower strains and premium cannabis oils are expected to be available in both provinces over the coming months.
“B.C. and Saskatchewan are important markets for Emblem’s continued domestic growth plans and we look forward to working with each province as a trusted partner to supply consumers with high-quality cannabis products that will meet their needs now and into the future,” said Nick Dean, CEO, Emblem Corp. “Emblem is focused on building a business for the long-term through product innovation, developing strong brands and enhanced distribution. With supply approvals in place across four key provinces – which also includes Ontario and Alberta – we continue to expand Emblem’s footprint and open up additional markets for our brands and products.”
“Leveraging Emblem’s existing strength in the medical market, we’re excited to introduce consumers in B.C. and Saskatchewan of legal age to Symbl. Symbl was created to offer a thoughtful brand experience for those seeking cannabis for recreational use that fits within a balanced lifestyle,” said Maria Guest, CMO, Emblem Corp. “Symbl is the first of several brands that Emblem intends to create to target a number of diverse consumer segments. As Canadians begin to navigate the new cannabis landscape, we believe that Symbl will become an established source for product information and cannabis education. We look forward to working with both provinces to build the foundation for a safe and responsible marketplace for consumers.”
Emblem has delivered in full its committed quantities to provincial wholesalers in Ontario and Alberta, meeting critical deadlines for the launch of cannabis legalization on October 17, 2018.
Morgan Cates H+K Strategies416.413.4649
Ethan Karayannopoulos Investor Relations Emblem Corp. 647.748.9696
Alex Stojanovic Chief Financial Officer Emblem Corp. 416.923.1331
This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as "forward-looking statements") within the meaning of applicable Canadian securities laws. All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "achieve", "could", "believe", "plan", "intend", "objective", "continuous", "ongoing", "estimate", "outlook", "expect", "may", "will", "project", "should" or similar words, including negatives thereof, suggesting future outcomes. Management of the Company believes the expectations reflected in such forward-looking statements are reasonable as of the date hereof but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. Various material factors and assumptions are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking statements. Those material factors and assumptions are based on information currently available to the Company, including data from publicly available governmental sources as well as from market research and industry analysis and on assumptions based on data and knowledge of this industry which Emblem believes to be reasonable. However, although generally indicative of relative market positions, market shares and performance characteristics, such data is inherently imprecise. While Emblem is not aware of any misstatement regarding any industry or government data presented herein, the medical marijuana industry involves risks and uncertainties and is subject to change based on various factors.
Forward-looking statements are not a guarantee of future performance and are subject to and involve a number of known and unknown risks and uncertainties, many of which are beyond the control of the Company, which may cause the Company's actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the risks identified in the Company's December 31, 2017 Management's Discussion and Analysis, which has been filed with the Canadian Securities Administrators and available on www.sedar.com. Any forward-looking statements are made as of the date hereof and, except as required by law, the Company assumes no obligation to publicly update or revise such statements to reflect new information, subsequent or otherwise.
Globe Newswire: 12:00 GMT Friday 12th October 2018
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