New license allows Geyser to add cannabis to existing healthcare brands
VANCOUVER, June 18, 2019 /CNW/ - Geyser Brands Inc. (TSXV:GYSR) ("Geyser Brands" or the "Company") is pleased to announce to its shareholders that the Company's wholly owned Licensed Producer, 0957102 B.C. Ltd. dba Apothecary Botanicals, successfully received a coveted Standard Processing License from Health Canada. The Standard Processing License enables the Company to expand on its long term vision and commence manufacturing premier products including tinctures and supplements.
In anticipation of receiving this approval, Apothecary Botanicals had started the physical modifications to its facility located in Port Coquitlam, B.C. earlier this month, with expected completion at the end of June 2019. The modifications and processes are designed to deliver GMP-compliant capacity. With the installation of manufacturing equipment, and the completion of distribution agreements, Apothecary Botanicals will be able to service the production needs of Geyser's existing and third-party brands.
Geyser Brands' acquisition target, Solace Management Group Inc., owns a number of brands with leading market positions in Canada. Solace's trusted brands include Apawthecary Pets, WildTails pet products, Apothecary Naturals and Apothecary Ink — all of which currently use hemp oil in their formulations — are distributed into leading retailers across Canada including Bosley's and Shoppers Drug Mart. The acquisition of Solace remains subject to TSXV approval and other requirements.
With the receipt of the Standard Processing Licence and capability within its Licensed Producer, Geyser is able to extend the brands into the highly regulated cannabis market in Canada, and expects to start production within the next 90 days. It also anticipates adding manufacturing capacity for edibles, extracts, and topicals, which will allow Apothecary Botanicals to extend the wider range of products from the Apothecary group of brands to be acquired into cannabis.
The modifications for the Apothecary Botanicals facility also includes a laboratory setup that anticipates the LP receiving its R&D license shortly. The Company is also anticipating receipt of its sales license soon after that which will solidify the Company's ability to supply customers with premier products direct.
"This is a huge milestone for Geyser Brands and something that we have been working towards for many months." Said Geyser Brands' CEO Andreas Thatcher. "The license allows us to add value to existing consumer healthcare brands by providing them the platform to add CBD. It also reflects our business model to focus our Licensed Producer on delivering scale through manufacturing and distribution. I wish to congratulate the team at Apothecary Botanicals and Geyser for all the hard work in obtaining this license. We are moving forward full steam with our vision and there is plenty more to come in the future."
ABOUT GEYSER BRANDS
Geyser Brands Inc builds health-based hemp CBD consumer products in the Nutraceutical, Cosmetics, Food & Beverage and Pet sectors world-wide. R&D investment in NanoFusion, a proprietary all-natural nanotechnology, delivers topical, cream, beverages and baked goods, oil, and tincture formulations with superior bio-availability and water-solubility.
Geyser Brands owns a Health-Canada approved Licensed Producer ("LP") in Port Coquitlam, B.C. that holds cultivation and processing licenses and is anticipating its R & D and sales licenses. The company is exclusively focusing on leveraging these assets to provide the regulatory infrastructure for its global brands and distribution strategy, acquiring hemp- and plant-based brands and infusing them with new CBD product lines in jurisdictions where the therapeutic ingredient is legal. The company's proprietary NanoFusion technology surrounds oils and solves for the insolubility of CBD. Geyser Brands will utilize both of its GM- licensed facilities in British Columbia for the manufacturing and distribution of its hemp and CBD-based products internationally.
On Behalf of the Board of Directors
Director and CEO
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SOURCE Geyser Brands Inc.
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