Sugarbud Craft Growers Corp. (OTCQB:SBUDD) (TSXV:SUGR) has received the initial purchase order from Alberta Gaming, Liquor and Cannabis ("AGLC") for the company’s first Dry Sift Hash Infused 3 x 0.5g multi-pack pre-roll format.
Sugarbud "Mixed Greens" 3 x 0.5g Infused Pre-Rolls are crafted using only 100% Sugarbud grown dried flower and solventlessly extracted 75-149 micron dry sift hash. "The art of blending requires the selection and combination of unique and different cultivars and dry sift hash while placing a premium on maintaining the harmony and balance between naturally occurring terpenes, flavors, aromas and cannabinoids throughout the entire process. The result is an altogether unique expression of the dried flower experience and is yet another fine example of the Sugarbud "House Style" that consumers have come to expect from the Sugarbud Craft Cannabis Collection," stated Sugarbud president and CEO, John Kondrosky.
"We continue to rapidly diversify and expand the product offering within our Craft Cannabis Collection and are excited about bringing this new hand crafted and convenient pre-roll format to Alberta consumers," concluded Kondrosky.
The company will be shipping the initial purchase order to AGLC in late July and expects its 3 x 0.5g Mixed Greens Pre-Rolls to be available for purchase from private cannabis retailers throughout Alberta in early August 2022.
AGLC is responsible for the wholesale distribution of non-medical cannabis products to private retailers in the province.
Shares for Services Issuance
Te company has received acceptance from the TSX Venture Exchange for the issuance of 665,020 common shares of Sugarbud to certain arms-length service providers at a deemed price of $0.35 per common Share to settle debts totaling $232,757. The common shares are being issued pursuant to the terms of shares for services agreements entered into with each of the service providers. The common shares issued are subject to a four month and one day hold period.
Investment Relations
The company has retained Hybrid Financial Ltd. to provide marketing services to the company. Hybrid has been engaged to heighten market and brand awareness for Sugarbud and to broaden the company's reach within the investment community. Hybrid has agreed to comply with all applicable securities laws and the policies of the TSXV in providing the services to Sugarbud.
The company has engaged Hybrid for an initial period of 12 months. Under the terms of the agreement the company will have the option to automatically renew the term for an additional 6 months or terminate the engagement in accordance with the agreement. Hybrid will be paid a monthly fee of $22,500, plus applicable taxes, during the initial term.
Photo by Shelby Ireland on Unsplash
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