TSX-Venture Exchange: SUGR, SUGR.WT
CALGARY, Jan. 31, 2019 /CNW/ - SugarBud Craft Growers
Corp. ("SugarBud" or the "Company") is pleased to
announce that it has entered into a strategic relationship
with Phylos Bioscience Inc. ("Phylos") for the
characterization and analysis of SugarBud's future cannabis strains
(the "Genetic Library"). With the declaration afforded to
SugarBud as a late-stage applicant under Health Canada's Cannabis
Regulations, the Company has line of sight to a Genetic Library of
over 400 top-tier strains, including the latest "designer" hybrid
strains and foundational landrace strains.
Craig Kolochuk, President and
Chief Executive Officer of SugarBud stated: "Phylos has extensive
knowledge of the global cannabis market and the rapidly evolving
needs of medical and recreational cannabis users. Phylos will
analyze chemotype, phenotype, and genotype data sourced from
SugarBud's Genetic Library, which will provide insights that could
include genetic profiles, potential yields, terpene levels, THC and
CBD content, plant sizes, and vegetation and flowering times. This
data will not only assist SugarBud in determining the optimal
cannabis strains for production from an economic standpoint, it
will also ensure that SugarBud's customers are provided with a
diverse product offering and certainty regarding the cannabis that
they are consuming."
About Phylos Bioscience Inc.
Phylos is the world's leading provider of cannabis genomics.
Using modern molecular genetics and computational biology, Phylos
is driving the development and improvement of hemp and drug
varieties for optimal performance across diverse agricultural
environments. The Phylos world-class team supports research and
development, breeding partnerships with global partners, and
cultivation businesses worldwide with a comprehensive suite of
genetic testing solutions.
About SugarBud
SugarBud is an Alberta-based
emerging cannabis company engaged in the development, acquisition,
production and distribution of cannabis in Canada.
Forward Looking and Cautionary Statements
This news
release may include forward-looking statements including opinions,
assumptions, estimates, the Company's assessment of future plans
and operations, and, more particularly, statements concerning the
strategic relationship with Phylos, SugarBud's Genetic Library and
the characterization and analysis thereof. When used in this
document, the words "will," "anticipate," "believe," "estimate,"
"expect," "intent," "may," "project," "should," and similar
expressions are intended to be among the statements that identify
forward-looking statements. The forward-looking statements are
founded on the basis of expectations and assumptions made by the
Company that include, but are not limited to, the timely receipt of
all required regulatory and third-party approvals. Forward-looking
statements are subject to a wide range of risks and uncertainties,
and although the Company believes that the expectations represented
by such forward-looking statements are reasonable, there can be no
assurance that such expectations will be realized. Any number of
important factors could cause actual results to differ materially
from those in the forward-looking statements including, but not
limited to: regulatory and third party approvals, including receipt
of cultivation and sales licenses from Health Canada, not being
obtained in the manner or timing anticipated; the ability to
implement corporate strategies; the state of domestic capital
markets; the ability to obtain financing; changes in general market
conditions; industry conditions and events; the size of the medical
marijuana market and the recreational marijuana market; government
regulations, including future legislative and regulatory
developments involving medical and recreational marijuana;
construction delays; competition from other industry participants;
and other factors more fully described from time to time in the
reports and filings made by the Company with securities regulatory
authorities. Please refer to the Company's annual information
form ("AIF") for the year ended December 31,
2017 and management's discussion and analysis ("MD&A")
for the three and nine months ended September 30, 2018 for additional risk factors
relating to the Company. The AIF and MD&A can be accessed under
the Company's profile on www.sedar.com.
Except as required by applicable laws, the Company does not
undertake any obligation to publicly update or revise any
forward-looking statements.
Neither the TSXV nor its regulation services provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this
release.
SOURCE SugarBud Craft Growers Corp.