Ayurcann Holdings Corp. Provides Corporate Overview
TORONTO, April 15, 2021 (GLOBE NEWSWIRE) — Ayurcann Holdings Corp. (CSE: AYUR) (the “Company” or “Ayurcann”), which recently listed its common shares on the Canadian Securities Exchange (the “CSE”), would like to provide current and prospective investors with a corporate overview on the Company and its operations.
Introduction to Ayurcann Holdings Corp., and its Manufacturing Division o/a Ayurcann Inc.
Ayurcann is a cannabis extraction and white label product manufacturing company focused on the Canadian market. Ayurcann offers turn-key extraction, product formulation and manufacturing solutions to Canadian LPs and cannabis brands. The Company operates out of Pickering, Ontario, within a proximity to over 100 licensed cannabis producers (“LPs”), with annual capacity to process 200,000 kg of biomass.
- Seasoned management team led by 2 founders with strong entrepreneurial backgrounds.
- Fully built-out extraction and manufacturing facility with a focus on high margin extract products.
- Granted an R&D license in August 2019 to start formulation and IP development.
- Granted a Standard Processor License in January 2020 and offering scalable white label production and toll processing solutions to several top Canadian LPs and cannabis brands.
- A facility strategically located in Pickering, Ontario within driving distance to over 100 Ontario-based LPs.
- Commencement of expansion into Phase II space offers the ability to broaden white label offering and fulfillment capabilities.
- Granted an Amendment to the “Standard Processing Licence” to allow for sales in January 2021.
- Current capacity to process 200,000 kg/year of cannabis biomass.
- Current yearly capacity for co-packaging of over 1 million vape and tincture filling.
- Expansion potential to double capacity with Phase 2 depending on market demand.
Ayurcann believes that it is targeting an underserved market, which is currently dominated by a handful of larger players focused on toll processing and white label solutions for large Canadian LPs. Ayurcann believes that this leaves small and mid-sized companies that do not have in-house extraction, manufacturing or product formulation capabilities with limited options. Ayurcann has secured orders with both publicly-listed Canadian LPs and several private LPs.
To learn more on the Company, please visit www.Ayurcann.com, and the Company’s SEDAR profile at www.sedar.com.
For further information, please contact:
Igal Sudman, Chairman, Chief Executive Officer and Corporate Secretary
Ayurcann Holdings Corp.
About Ayurcann Holdings Corp.:
Ayurcann is a leading post-harvest solution provider with a focus on providing and creating custom processes and pharma grade products for the adult use and medical cannabis industry in Canada. Ayurcann is focused on becoming the partner of choice for leading Canadian cannabis brands by providing best-in-class, proprietary services including ethanol extraction, formulation, product development and custom manufacturing.
Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.
Certain statements included in this press release constitute forward-looking information or statements (collectively, “forward-looking statements”), including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “may”, “should” and similar expressions to the extent they relate to the Company or its management. The forward- looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements, including but not limited to statements relating to the Company’s expansion plans and future production capacity. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors.
Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Factors that could cause the actual results to differ materially from those in forward-looking statements include, but are not limited to, failure to obtain regulatory approval, ability to increase production at the Company’s facilities, the continued availability of capital and financing, and general economic, market or business conditions. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions, there can be no assurance that the statements will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, Further, there may be others that cause results not to be as anticipated, estimated or intended and such changes could be material. Public health crises, including the ongoing novel coronavirus (COVID-19) pandemic, could have significant economic and geopolitical impacts that may adversely affect the Company’s business, financial condition and/or results of operations. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company’s forward-looking statements.