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
Andreas
Thatcher
Director and CEO
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SOURCE Geyser Brands Inc.