VANCOUVER, March 27, 2019 /CNW/ - Geyser Brands Inc (TSX-V: GYSR) (the "Company"), after initiating its first cannabis cultivation in January of this year, has successfully brought in a healthy full harvest. This establishes the first revenues out of the cultivation license that was granted October 16, 2018.
The facility was also recently audited by Health Canada, which approved Geyser Brands' Licensed Producer ("LP") compliance with the Health Canada standards. This approval allows the company to move forward to the next steps in receiving its processing and sales license, which will then allow the Company to extend their products and brands into the regulated Canadian cannabis market and direct to consumer medical market.
Geyser Brands LP will continue to pursue its mandate to invest into the research and development of unique high-quality proprietary strains and technologies that target specific health related conditions such as pain and inflammation reduction, insomnia, digestive issues and other commonly known ailments.
Michael Price, president of Geyser Brands LP site 0957102 BC, commented "I couldn't be prouder of our dedicated employees who, under the watchful eye of our Head of R&D Kuldip Gill, have worked tirelessly to ensure that our LP is now fully compliant under Health Canada rules. Also, congratulations to our master grower Trevor McLean for making our first crop's yield better than we could have ever hoped for. "
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 creams, beverages, baked goods and tincture formulations with superior bio-availability and water-solubility. Geyser Brands is a Health Canada approved Licensed Producer in Port Coquitlam B.C.
On Behalf of the Board of Directors
Director and CEO
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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.
SOURCE Geyser Brands Inc.
For further information: 330-321 Water St., Vancouver, B.C., V6B 1B6, Tel: (604) 315-4400, www.geyserbrands.com, [email protected]