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VANCOUVER, Nov. 20, 2019 /CNW/ - Geyser Brands Inc. (formerly Kanzen Capital Corp.) (TSX-V: GYSR) ("Geyser Brands" or the "Company) is pleased to announce that the Company's wholly-owned subsidiary, 0957102 B.C. Ltd. DBA Apothecary Botanicals ("Apothecary Botanicals"), has been awarded a cannabis research license (the "Research License") by Health Canada under the Cannabis Regulations Act, allowing the Company to possess and produce cannabis for the purpose of research.
With the awarded Research License, Geyser Brands will develop new formulations for topicals, edibles, and beverages related to cannabis. The Company has already completed all of its research and planning for the next phase, and with the granting of their Research License, will now commence converting the work into real-life wellness products that have top-tier formulations. Geyser Brands' fully operational R&D laboratory in Vancouver, BC will now develop cannabis-based products as well as operate as a pilot-scale production for the transformation of cannabis-CBD based ingredients and organic formulations.
The license will enable Geyser Brands to move ahead with research activities that involve direct handling of cannabis such as SOP development, stability testing, sensory evaluation and quality assurance for house brands and white label clients. Led by Kuldip Gill, Chief Operating Officer at Apothecary Botanicals, the research will be performed at their Health Canada approved Licensed Production facility.
Andreas Thatcher, CEO commented, "We are thrilled to announce that we have been awarded our Research License from Health Canada. We now have the opportunity to act on expanding our product development and innovation efforts through new proprietary formulations with the intent to bring cannabis to the mainstream. We look forward to working with some of our existing partners to utilize our next phase of growth and development at Geyser Brands."
The Research License is the third license granted to Geyser Brands, after already receiving their Cultivation and Processing Licenses in October 2018 and June 2019, respectively. In addition, the Company is in the process of obtaining their final license for Medical and Retail Sales.
About Geyser Brands
Geyser Brands Inc. is a consumer health and wellness company operating within the Canadian cannabis industry. Geyser's proprietary delivery technologies include all natural nano-technology, slow-release mechanisms, and non-molecule degrading baking processes. The Company provides expertise from conceptual innovation to manufacturing and end-use distribution. Geyser owns a suite of several brands within the consumer-packaged goods market that are offered nationwide at many recognized retailers. Geyser Brands owns a Health Canada approved Licensed Production facility and operates 15,000 sqft of manufacturing space in two GMP facilities near Vancouver, BC.
For more information, visit Geyser Brands' website at www.geyserbrands.com.
On Behalf of the Board of Directors
Director and CEO
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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. Additional information relating to Geyser is available at www.sedar.com.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE Geyser Brands Inc.
For further information: #330 - 321 Water Street, Vancouver, B.C., V6B 1B8, www.geyserbrands.com, [email protected]