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VANCOUVER, Dec. 16, 2019 /CNW/ - SpeakEasy Cannabis Club Ltd. (CSE: EASY) (Frankfurt: 39H) (the "Company" or "SpeakEasy"), a holder of a federal licence to cultivate, process and sell cannabis under the Cannabis Act, is pleased to announce that it has signed a non-binding letter of intent with CannaOne Technologies Inc. ("CannaOne") to launch the first CBD e-commerce marketplace in Canada www.theBwellMarket.com.
BWell Market ("BWell") is a CBD e-commerce marketplace which launched months after the historic Farm Bill passed by the US Federal government in December 2018, decriminalizing CBD and allowing online sales to supply 50 of the 52 states in America. BWell's enterprise platform has first to market opportunity in the USA, powered by proprietary e-commerce technology developed by CannaOne. Since BWell's initial launch, they have been able to attract some of America's most recognized CBD brands, including Select CBD, and CBD-FX. BWell currently holds over 200 SKUs.
Marc Geen, founder of SpeakEasy says, "The BWell Market's focus directly aligns with SpeakEasy's long term business development goals. Together we'll work towards acquiring new customers at a low cost and further expanding on a business model that mirrors Amazon's marketplace approach. BWell's current inbound marketing metrics have them competing for the number one American online CBD marketplace - an opportunity to become a recognized household name on both sides of the border."
Geen further states, "We're excited to be working with CannaOne as they compliment our business in so many ways and the thought of us being vertically integrated is extremely exciting. Their team is recognizing the needs of the modern consumer that can only be fulfilled online in this new era of commerce where convenience, service and education are at the forefront. That is the type of insight that will become extremely valuable as we enter the next area of our industry, "Cannabis 2.0". CannaOne's current global relationships in Latin America and Europe will open up new relationship that we are eager to explore."
CBD Market opportunity:
BDS Analytics and Arcview Market Research project that the collective market for CBD sales in the U.S. will surpass $20 billion by 2024.
US based CBD company 'Charlottes Web' reported 57% of their $70 million revenue coming from their online sales platform.
Canadian CBD Market expected to reach $1 billion in the next 4 years – Forbes.
CannaOne Technologies is a software development and technology company that has developed its own proprietary online E-Commerce Marketplace solution linking the rapidly expanding CBD industry to consumers. The company's first consumer product, BloomKit, is a software suite that delivers a complete online toolkit for a variety of applications for companies in the sector. In June 2019 CannaOne helped launch BWell (thebewellmarket.com), in the United States, facilitating the sale of a large selection of premium CBD products from numerous suppliers to consumers. CannaOne has also secured contracts with underlying expectations to launch additional marketplaces in Mexico and the UK marketplace during the first half of Calendar 2020. The company's overall vision is to provide comprehensive online solutions for the industry globally and is now well-positioned to offer industry suppliers with a premium, turnkey technology platform for their CBD products that not only sells and markets products, but also educates and engages their community from the ground up. CannaOne has uniquely positioned itself to its potential partners or clients, as not only a developer and operator of an innovative marketplaces and turnkey software platforms, but also as a consolidator, manager and overseer of extremely informative and valuable cannabis related analytics and consumer data.
About SpeakEasy Cannabis Club Ltd.:
SpeakEasy Cannabis Club Ltd. holds a cultivation, processing and sales licence issued by Health Canada under the Cannabis Act. SpeakEasy owns 290 acres of land in Rock Creek, British Columbia, and leverages three generations of farming experience in B.C. as well as its favourable location to grow and process high-quality cannabis products at low cost. SpeakEasy cultivates small batch, high quality craft cannabis in its 10,000 square foot indoor facility and has recently completed the development of its 60-acre outdoor field. The Company's intention, upon receipt of an amendment to its current licence to include the outdoor cultivation area, is to produce approximately 70,000kg of outdoor, sun grown cannabis in 2020.
For more information about SpeakEasy, visit speakeasygrowers.com.
This news release contains statements that constitute "forward-looking statements." Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause SpeakEasy's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.
Forward-looking statements in this document include statements concerning SpeakEasy's intention to launch the first CBD e-commerce marketplace in Canada, its intent to produce and sell high quality craft cannabis, its expected production output upon receipt of an amendment to its current license and the timeframe associated with such production output, and all other statements that are not statements of historical fact.
Although SpeakEasy believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. By their nature, these statements involve a variety of assumptions, known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such statements. Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; adverse industry events; future legislative and regulatory developments involving cannabis; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; the cannabis industry in Canada and generally; the demand for cannabis and cannabis related products, the ability of SpeakEasy to implement its business strategies; competition; the ability of SpeakEasy to obtain and retain all applicable licences under the Cannabis Act and other assumptions, risks and uncertainties.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
The Canadian Securities Exchange has not approved nor disapproved the contents of this news release.
SOURCE Speakeasy Cannabis Club Ltd.
For further information: Ray Lagace, [email protected], 604-418-6950