MJardin Announces Standing Offer Agreement with Alberta Gaming, Liquor and Cannabis
NOT FOR RELEASE OR DISSEMINATION INTO THE UNITED STATESTORONTO, Jan. 28, 2021 (GLOBE NEWSWIRE) — MJardin Group, Inc. (CSE: MJAR) (the “Company” or “MJardin”), a leader in premium cannabis production, today announced that it has been registered to sell cannabis through Alberta Gaming, Liquor and Cannabis (“AGLC”), and has entered into a standing offer agreement with AGLC for the sale of its premium high-quality cannabis in the Alberta market, under the Flint & Embers and BLLRDR brands.
AGLC is responsible for regulating private retail cannabis, the distribution of cannabis and operation of Alberta’s only legal online cannabis store, AlbertaCannabis.org.The AGLC registration and standing offer agreement enables MJardin to make its product available to consumers in Alberta, which is the fourth largest populous market with the second largest cannabis sales in Canada. With active agreements in place in Ontario, British Columbia and Alberta, the Company now services over two-thirds of the Canadian population and anticipates increased revenues as a direct result of their increased availability across Canada.Moving into the Alberta market marks a key step in the achievement of MJardin’s 2021 goals. Last year, the Company set forth on a path to develop knowledge and create processes required for successful brand launches in the emerging recreational cannabis market in Canada. Today, the Company displays laser focus on its Canadian consumer-facing brand, Flint & Embers, and partner brand, BLLRDR.“We have put a lot of time and effort into identifying our unique and unassailable competitive strengths before applying them elsewhere,” stated Pat Witcher, CEO of MJardin. “We have determined the nature of our strengths and we have identified our value in this new market. Our excellent horticultural background and data driven processes have radically improved the performance of our company over the last four years. We’re excited to introduce the culmination of our commitment, to our high-quality cannabis products, through the market entry of our consumer-facing brands.”Alberta, having established early market leadership with nearly half of the cannabis retail locations in the country, continues to see rising earnings driven mainly by a proliferation of stores. MJardin plans to help Alberta capture additional customers by establishing a strong presence in the province through collaborative retailer engagements, consequently decreasing illicit market purchases.“This agreement will enable us to deliver high quality cannabis to another great Canadian market under favourable terms,” stated Eric Gattoni, Senior VP Business Development of MJardin. “The market for quality cannabis in Alberta is growing at a remarkable pace, and thanks to this agreement, and our strategically planned collaborative retailer engagements, we have a scalable means to help meet this demand”.Initial purchase orders and shipments of the Flint & Embers and BLLRDR brands are expected to occur Q1 of 2021.About MJardin GroupMJardin’s mission is to set the standard for successful ownership of assets in the cannabis industry. Our founders spent a decade refining cultivation methodology, collecting and implementing data driven standards and designing state\ of the art facilities. Today, MJardin owns multiple operations in Canada, supplying the market with premium products. We are committed to our Canadian First Nation joint ventures and all our strategic partnerships across the cannabis supply chain. MJardin is publicly listed on the CSE (MJAR) and headquartered in Toronto, Ontario and Denver, Colorado.The CSE has not in any way passed upon the merits of and has neither approved nor disapproved the contents of this news release.This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.Forward-Looking InformationThis press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as, may’, ‘will’, ‘should’, ‘could’, ‘would’, ‘expects’, ‘intends’, ‘plans’, ‘anticipates’, ‘believes’, ‘estimates’, ‘projects’, ‘predicts’, ‘potential’, ‘outlook’ or ‘continue’ or the negative of those forms or other comparable terms. Statements about, among other things, future developments in the business and operations of MJardin, contain forward-looking information. These statements should not be read as guarantees of future performance or results. The Company’s forward-looking information and forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information and forward-looking statements, including but not limited to: our ability to identify and pursue growth, financing and other strategic objectives, and the regulatory and economic environments in the jurisdictions we operate or intend to operate or invest in. Reference should also be made to the risks and uncertainties which are discussed in greater detail in the “Risk Factors” section of the Company’s Annual Management’s Discussion and Analysis filed on SEDAR and as described from time to time in documents filed by the Company with Canadian securities regulatory authorities. Readers are cautioned that the foregoing list of factors is not exhaustive. Although such statements are based on management’s reasonable assumptions at the date such statements are made, there can be no assurance that any proposed transactions will occur or that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information and forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking information and forward-looking statements. No assurances are given as to the future trading price or trading volumes of MJardin’s shares, nor as to the Company’s financial performance in future financial periods. The Company does not intend to update any of these factors or to publicly announce the result of any revisions to any of the Company’s forward-looking information and forward-looking statements contained herein, whether as a result of new information, any future event or otherwise. Except as otherwise indicated, this press release speaks as of the date hereof. The distribution of this press release does not imply that there has been no change in the affairs of the Company after the date hereof or create any duty or commitment to update or supplement any information provided in this press release or otherwise. MJardin assumes no responsibility to update or revise forward-looking information and forward-looking statements to reflect new events or circumstances unless required by applicable law.Caution Regarding Cannabis Operations in the United StatesInvestors should note that there are significant legal restrictions and regulations that govern the cannabis industry in the United States. Cannabis remains a Schedule I drug under the US Controlled Substances Act, making it illegal under federal law in the United States to, among other things, cultivate, distribute or possess cannabis in the United States. Financial transactions involving proceeds generated by, or intended to promote, cannabis-related business activities in the United States may form the basis for prosecution under applicable US federal money laundering legislation.While the approach to enforcement of such laws by the federal government in the United States has trended toward non-enforcement against individuals and businesses that comply with medical or adult-use cannabis programs in states where such programs are legal, strict compliance with state laws with respect to cannabis will neither absolve the Company of liability under US federal law, nor will it provide a defense to any federal proceeding which may be brought against the Company. The enforcement of federal laws in the United States is a significant risk to the business of the Company and any proceedings brought against the Company thereunder may adversely affect the Company’s operations and financial performance.Investor ContactAli Mahdavi
Director of Capital Markets & Investor Relations
Chief Executive Officer
+1.720.613.4019Media ContactTerra Kimery
Director of Marketing & Brand