Sugarbud Enters National Supply Agreement with Mendo Medical to Provide Nationwide Product Access to Registered Medical Patients

2022年02月22日18:00

CALGARY, Alberta, Feb. 22, 2022 (GLOBE NEWSWIRE) -- Sugarbud Craft Growers Corp. (TSXV: SUGR, SUGR.DB, SUGR.WR, SUGR.WS, SUGR.WT,) (OTCQB: SBUDD) ("Sugarbud" or the "Company") is pleased to announce that it has entered into a supply agreement ("the Agreement") with Quebec-based licensed producer Médicibis, operators of Mendo Medical (“Mendo”) to provide registered medical patients access to the Company’s Craft Cannabis Collection nationwide via Mendo’s online medical cannabis sales platform – MendoCannabis.ca.

Supply Agreement

Under the terms of the Agreement, Sugarbud will provide Mendo with a wide selection of its Craft Cannabis Collection of products; including the recently launched Bahama Blizzard #11, GMO Cookies and Krypto Chronic #2 Flower Rosin products for direct sale to registered medical patients nationwide. The Agreement is subject to customary regulatory, licensing and new product notification requirements.

Registered medical patients previously purchasing Sugarbud products through the recently discontinued CannMart medical sales platform may transfer their prescription to Mendo by contacting CannMart’s Client Care team prior to March 1st, 2022 to complete the transfer. Patients may also contact Mendo’s personal care team directly for further assistance via email at info@mendocannabis.ca.

"We are very pleased to be partnering with the Mendo team to provide registered medical patients across the country with access to our Craft Cannabis Collection," stated Sugarbud CEO, John Kondrosky.

"Our expanded partnership with Mendo continues to leverage our existing production and reach to medical patients nationwide - while at the same time allowing Sugarbud to maintain the Company’s primary focus and allocation of commercial resources on the continued scale up our core recreational cannabis business," concluded Mr. Kondrosky

"We are delighted to work with Sugarbud to offer quality craft cannabis products to our members through our national sales portal accessible by medical patients from coast to coast," said Jay Schwartz, Chief Operating Officer of Mendo. "We are excited to feature seven Sugarbud SKU’s that we think our patients will be eager to experience."

Schwartz went on to add, "Providing Canadian cannabis patients, a platform to purchase a wide variety of sought-after products with accessible pricing will always be Mendo's focus. Patients are our passion at Mendo and today's announcement reflects that core value."

About Sugarbud

"Hand-Crafted Cannabis for a New Era"

Sugarbud is a consumer-driven craft cannabis company focused on the cultivation and production of superior, select-batch, craft cannabis products. Our vision and mission are to become a trusted and well-respected consumer brand renowned for providing exceptional high-quality craft cannabis products to legal markets by delighting the most discerning of cannabis consumers.

The Sugarbud Craft Cannabis Collection offers consumers "Hand-Crafted Cannabis for a New Era". The Company is proudly Albertan and is proud to share Western Canada's long tradition of exceptional craft cannabis with the most discerning of enthusiasts. Sugarbud strives to define the intersection of product craftsmanship, quality, and value for consumers in the Canadian craft cannabis space.

Sugarbud Craft Cannabis products are currently available to adult recreational consumers in the Yukon Territory, British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec and nationally to registered medical patients through MendoCannabis.ca.

We Take Pride.

We Take Our Time.

Experience The Difference.

About Médicibis / Mendo Medical

Medicibis is a federally licensed producer of dried cannabis and distributes its products under the brand name ENDO. Medicibis operates out of its 20,000 sq.ft. facility located 15 minutes from downtown Montreal in St Jean Sur Richelieu. Medicibis operates an online portal for medical patients that ships nationwide through their website mendocannabis.ca. Mendo's menu has been carefully curated to offer a variety of sought-after products from licensed producers from across Canada. Mendo is well positioned to soon become one of the leading suppliers of medical cannabis to patients and veterans in the country.

CONTACTS:

John Kondrosky

Chief Executive Officer

Sugarbud Craft Growers Corp.

Phone: (604) 499-7847

E-mail: johnk@sugarbud.ca

Investor Relations Contact

Chris Moulson

Chief Financial Officer

Sugarbud Craft Growers Corp.

Tel: (778) 388-8700

E-mail: chrism@sugarbud.ca

Websites:

http://www.sugarbud.ca/

http://craftcannabiscollection.ca

Forward Looking and Cautionary Statements

This news release contains forward-looking statements. More particularly, and without limitation, this news release contains statements concerning: Sugarbud's assessment of future plans, operations and cannabis cultivation and processing, including sales, marketing and distribution opportunities; product quality; the development, production, sale and distribution of Sugarbud's Craft Cannabis Collection, including new product lines and the properties, characteristics and launch timing thereof; the expected timing of retail availability of new products; future growth; and customer satisfaction; the Company's annual general and special meeting and the timing 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 Sugarbud. Forward-looking statements are subject to a wide range of risks and uncertainties, and although Sugarbud 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: currently contemplated expansion and development plans may cease or otherwise change; production of cannabis may be lower than expected; ability to ship cannabis products may be lower than expected; demand for Sugarbud's products may be lower than anticipated; results of production and sale activities; results of scientific research; changes in prices and costs of inputs; demand for labour; demand for products; failure of counter-parties to perform contractual obligations; failure to maintain consumer brand recognition and loyalty of customers; reliance on relationships with wholesalers and retailers for distribution of products and failure to maintain strategic business relationships; intense competition, including from illicit sources; uncertainty and continued evolution of markets; product liability litigation; reliance on information technology; infringement on intellectual property; failure to benefit from partnerships; sensitivity of end-customers to increased sales taxes and economic conditions; failure to comply with certain regulations; departure of key management personnel or inability to attract and retain talent; actions and initiatives of federal and provincial governments and changes to government actions, initiatives and policies and the execution and impact thereof; 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; risks inherent in the agricultural business, such as insects, plant diseases and similar agricultural risks which can have a significant impact on the size and quality of the harvest of cannabis crops; competition from other industry participants; and other factors more fully described from time to time in the reports and filings made by Sugarbud with securities regulatory authorities. In addition, the Company cautions that current global uncertainty with respect to the spread of the COVID-19 virus, and variant strains of the virus, and its effect on the broader global economy may continue to have a significant negative effect on the Company. While the precise impact of the COVID-19 virus on the Company remain unknown, rapid spread of the COVID-19 virus may continue to have a material adverse effect on global economic activity, and can result in volatility and disruption to global supply chains, operations, mobility of people and the financial markets, which could affect interest rates, credit ratings, credit risk, inflation, business, financial conditions, results of operations and other factors relevant to the Company. Please refer to Sugarbud's most recent annual information form and management's discussion and analysis for additional risk factors relating to Sugarbud, which can be accessed under Sugarbud's profile on www.sedar.com. Except as required by applicable laws, Sugarbud 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.

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