VANCOUVER, British Columbia, March 5, 2019 /CNW/ -- Weekend Unlimited Inc. ("Weekend" or the "Company") (CSE: POT) (FSE: 0OS1) (OTCQB: WKULF) President & CEO, Paul Chu has issued this important update to shareholders.
Dear Weekend Unlimited Shareholder:
The Company is actively implementing its strategy as a multi-national operator, developing a brand portfolio to satisfy every segment of the recreational cannabis market in legal jurisdictions. As we build momentum, we wanted to share some of the highlights over the last month, these include:
International recognition that came from winning the Canadian Stock Exchange's POT Lottery
- A significant distribution deal for Canna Candys
- Closing of the R & D Pharma deal for Jamaican vertical operations
- Licensing and grand opening of Northern Lights Supply retail store in Alberta
- Expansion into the Oklahoma market
- Executive appointments in business development, operations and revenue generation
- Start of trading on the OTC QB Market
Allow me to expand on each of the above:
Building on the POT Lottery win, the Company signed a long-term distribution deal for Canna Candys, focused on growing a retail presence in the US Northeast, Midwest and Southeast regions. The strategy will begin with Canna Candy's mixed fruit gummies, which each contain 5 mg of 99.6% hemp oil extract (0% THC and non-psychoactive). Additional products in Weekend's candy and beverage brands are anticipated to be added to the distribution deal in the near term.
In Jamaica, closing the deal with R & D Pharma allows the Company to accelerate growth in that country's medical tourism market. Weekend will also develop consumer brands for Jamaican and international export markets, leveraging favorable cultivation economics and the stature and reputation of Jamaica's cannabis history. The overall assets include 145-acres of cultivation property, with significant yield over a 4 times per year crop rotation.
Upon receiving one of ten new Alberta retail licenses, as announced on February 5th, the retail operation received two inventory shipments and celebrated its grand opening on February 23rd, driving significant traffic, awareness and sales. The Northern Lights Supply store will serve as a launchpad for new products, customer data gathering, educational programming to the hospitality industry, and a platform for partnerships.
Oklahoma presents a geographically advantageous growth platform for Weekend. The acquisition we announced includes a 7-acre property with 20,000 ft2 of indoor facilities housing nursery/cultivation and extract production. The plans also include a 1500 ft2 retail-designated space for a concept store to be developed as Weekend's first location in Oklahoma. Additional space will be designed to produce and package Weekend's Canna Candys brands to distribute in Oklahoma. Licenses have been secured for cultivation, processing, transportation, and an application is in place for a retail license.
Our initial product focus for the Oklahoma medical market will be centred upon vape cartridges, dab rigs and candy products. The brand strategy will be scalable and expand to beverages, topicals and supplements.
Along with our listing on the OTC QB, which will make the company more accessible to USA investors, putting a strong leadership team in place has been a top priority. Over the last 30 days we have added Clint Pyatt, Director of Revenue Generation, Ese Roberts, Director of Operations, Karl Schmieder, MS/MFA, Director of Business Development, and Tom Wisniewski, VP Sales Operations.
This leadership team's experience and understanding of our vision is being put into action immediately to establish and scale best-in-class operations and distribution, creating strong revenue trajectories as the company launches its own consumer packaged brands, with hemp oil extract products being a primary focus throughout the USA.
President and CEO
About Weekend Unlimited Inc.
Weekend Unlimited is capitalizing on its vast industry relationships to establish a lifestyle brand featuring premium products and delivering life's highest moments. The company aggregates and scales small to medium brands, primarily in the categories of flower, extracts and edibles. Weekend Unlimited brands have best of class operations, distribution and strong revenue trajectories, making them ideal candidates for the deployment of capital and expertise through access to technologies, infrastructure and centralized systems. Learn more at www.weekendunlimited.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
For further information, please contact:
Mr. Paul Chu,
President and CEO
Toll free 1(888) 556-9656
SOURCE Weekend Unlimited Inc.