Acquisition of True Focus International, South American HQ Strengthens Company's Position as a Global Markets Cannabis Brand
TORONTO, Aug. 1, 2019 /CNW/ - Cannvas MedTech Inc. ("Cannvas" or the "Company") (CSE: MTEC) (Frankfurt: 3CM) (OTCPK: CANVF), a leading digital cannabis education and analytics company, is pleased to announce its intent to position the organization, rebranded as "Eurolife Brands Inc." (EuroLife), as a global leader in providing international markets with responsible and evidence-based cannabis education, consumer packaged goods ("CPG") brands, and consumer analytics powered by its Cannvas.Me and Cannvas Data platforms.
"We are thrilled to begin a new chapter for the company as we apply our leading cannabis education and analytics platforms to a new line of business poised for aggressive global expansion," said Steve Loutskou, Chief Operating Officer, Global Markets, Cannvas MedTech. "With forecasters such as Prohibition Partners and The Brightfield Group projecting the value of European and South American cannabis markets to exceed $80B within the next 10 years, we are confident our first-mover status into those markets, coupled with the strategic utilization of our existing assets, will increase shareholder value and position our organization as a global markets cannabis brand empowering the medical, recreational and CPG cannabis industry around the world."
Cannvas recently announced it would be rebranding the company to Eurolife Brands to better reflect the direction of the Company's business activities. The Company has additionally secured the trading symbol "EURO" on the CSE, a move its strategic advisors see as strengthening the Company's position in the capital markets by offering investors a clearer idea of its core focus. EuroLife will bring cannabis education, analytics and some of the world's most popular brands to international markets and emerging regions around the world while researching and executing on strategic M&A opportunities with like-minded organizations in Europe, South America and beyond.
As part of its initial plans to grow EuroLife Brands, the Company recently announced it has obtained the exclusive licensing rights for the marketing, development and distribution of True Focus' product suite and proprietary intellectual property portfolio across South America and in select markets throughout Europe for a period of 10 years. True Focus' all natural, nutraceutical formulations are delivered via an oral spray treatment and are aimed at mitigating the effects of THC overconsumption. EuroLife aims to leverage its industry-leading analytics focused on pre-transactional consumer behaviour patterns to expand the True Focus brand across Europe and South America, where it has already set up a physical location in Medellin, Colombia, for its EuroLife South American headquarters.
EuroLife anticipates aggressive expansion and a wide range of product SKU's to be included in its initial product offering within short order, as it continues high-level engagements with strategic partners across North America, South America and Europe. The Company's focus is the result of months of judicious research and meticulous planning through various partners and close contacts on the ground in countries such as Germany, UK, United States and Colombia. EuroLife hopes to centralize the sale of European brands in the CBD CPG space, supported by education and analytics from its North American platforms - Cannvas.Me, Cannvas.Pet and Cannvas Data, specifically - which remain intrinsically linked to EuroLife's overall growth plans.
In support of EuroLife's ongoing mandate to enact strategic and value added M&A initiatives it has engaged several high-level strategic advisors with proven track records in capital markets and corporate finance, having raised hundreds of millions of dollars in addition to building enterprises with values in excess of $250,000,000.
More information can be found at the Company's new website: www.EuroLifeBrands.com, and stay tuned for more exciting developments from the EuroLife and Cannvas team.
About Cannvas MedTech Inc. Cannvas MedTech is a leading digital cannabis education and analytics company delivering accessible and evidence-based education while harnessing the power of data to paint a clearer picture of cannabis consumption across Canada.
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Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Issuer's future plans, objectives or goals, including words to the effect that the Issuer or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on www.sedar.com.