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VANCOUVER, BC / ACCESSWIRE / September 27, 2021 / CanaFarma Hemp Products Corp. (CSE:CNFA) (the "Company" or "CanaFarma") a leader in the branded health and wellness space, announces that its strategic partner, Winners Circle Genetics, Inc. ("WCG"), has completed its first "drop" of products since the Company entered into its term sheet with WCG (for details, see the Company's press release dated August 10, 2021).
The first drop consisted of the purchase by WGC (through the use of its working capital facility with CanaFarma) of approximately $185,000 worth of inventory of its exotic and proprietary cannabis strains, with its two previously marketed strains Peanut Butter & Jelly and Birkinz being fully sold out in under six weeks since the time of inventory purchase. Products under WGC's newest strain, 1942, were delivered later than the first two, arriving in dispensaries in early September. Sales of that strain have been showing similar uptake as the first two strains in sales to date.
Vitaly Fargesen, SVP of Strategy for CanaFarma added, "We are extremely pleased to see the success of this first drop by Winner's Circle. Being sold out of product in only 6 weeks is a great testament to the quality of their products and represents an exciting start to our relationship with Winner's Circle."
About Winners Circle Genetics, Inc.
Winner's Circle Genetics is one of the leading genetics companies in the cannabis industry. WCG's world class, proprietary and premium cannabis brands have taken the industry by storm with their award winning strains.
About CanaFarma Hemp Products Corp.
CanaFarma Hemp Products Corp. is a full-service company operating in the hemp industry offering a full range of hemp-related products and services to the consumer wellness market. These products and services include growing high-quality hemp, providing hemp-processing services, and offering hemp-based products to consumers utilizing a well-established direct-to-consumer marketing approach.
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Forward Looking Statement
This news release contains statements and information that, to the extent that they are not historical fact, may constitute "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, as well as statements regarding future plans, objectives or economic performance, or the assumption underlying any of the foregoing. In some cases, forward-looking statements can be identified by terms such as "may", "would", "could", "will", "likely", "except", "anticipate", "believe", "intend", "plan", "forecast", "project", "estimate", "outlook", or the negative thereof or other similar expressions concerning matters that are not historical facts. Examples of such statements include, but are not limited to the product sales by WGC, future supply and demand of WGC products. Forward-looking information is based on the assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: financing risks; regulatory and licensing risks; changes in consumer demand and preferences; changes in general economic, business and political conditions, including changes in the financial markets; risks relating to regulatory change; compliance with extensive government regulation; public opinion; the impact of COVID-19; and the risk factors set out in the Company's public documents filed with Canadian securities regulators and available on the Company's profile on SEDAR at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking information speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company's management to predict all of such factors and to assess in advance the impact of each such factor on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information.
The Company does not undertake any obligation to update any forward-looking information to reflect information or events after the date on which it is made or to reflect the occurrence of unanticipated events, except as required by law, including securities laws.
SOURCE:CanaFarma Hemp Products Corp.
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