- Geyser Brands has completed its first test harvest and second harvest as a cannabis cultivator under Health Canada’s licensing regulation, and it is working to complete licensing for direct-to-consumer sales; its third harvest, now in the ground, promises a 200 percent yield increase over the first two harvests
- GYSR recently undertook a $400,000 private placement financing bid and welcomed two new investor relations officers to boost its management team
- The company has signed a non-binding letter of intent to acquire the cannabis brands and assets of Solace Management Group
Cannabis cultivator Geyser Brands Inc. (TSX.V: GYSR) is beginning to steam its way into an industry centered on what is known as a natural, healthful recourse for people struggling to manage insomnia, digestive difficulties, pain and inflammation. Geyser is building brands and celebrating the successful March harvest of its first test crops under the requirements of Health Canada’s license to cultivate.
Geyser Brands is a British Columbia-based company producing consumer health care products and brands through a formulation laboratory focused on enhancing the bio-availability and shelf stability of all-natural, hemp-derived cannabidiol (CBD) products. The company’s proprietary NanoFusion technology is at the heart of its topical, cream, beverage and baked goods, oil and tincture formulations for promoting human and pet health. Its strategy is to build and market brands nationally and internationally, establishing retail channels and direct-to-consumer experiences for its hemp-infused products and enhancing the products with CBD where legal.
Geyser began trading on the TSX Venture Exchange in December, and, with its first and second harvests under its belt (http://cnw.fm/NY76y), the company is working to complete a processing and sales license, which will allow GYSR to extend its products into the regulated Canadian cannabis market and direct-to-consumer medical market.
On April 18, the company announced that it is undertaking a private placement financing of up to 615,385 units at $0.65 per unit, with each unit including a common share and a purchase warrant exercisable into an additional common share at a price of $0.85 per share (http://cnw.fm/lEFL0). The placement is expected to generate gross proceeds of up to C$400,000 as a means to provide general working capital for Geyser’s growth initiatives.
“Investing in operational capacity expansion is vital to maintaining our brands’ existing leadership positions in the global cannabis industry,” CEO Andreas Thatcher stated in the announcement. “This financing gives us additional resources so we can maintain our momentum and launch ourselves through the window of opportunity that exists domestically and abroad so we can continue to lead a sector forward into new territory.”
Geyser has also augmented its executive staff, recently welcoming Doug Kerr and Alan Jones as its investor relations officers (http://cnw.fm/0PmIr). The pair brings industry experience from working with Wildflower Brands Inc. and Phivida Holdings Inc., respectively, where they helped the companies communicate their corporate strategies to shareholders.
Under the terms of joining the management team, Kerr received 250,000 stock options to purchase common shares exercisable at a price of $0.70 per share, and Jones was granted 125,000 options.
In February, Geyser signed an LOI with Solace Management Group Inc. to acquire Solace’s brands and assets, including hemp-infused pet treat brand ‘Apawthecary Pets’, hemp-based product line ‘Apothecary Naturals’, hemp-based tattoo after-care products ‘Apothecary Ink’, hemp-infused freeze-dried pet products for dogs and cats ‘WildTail Pets’, and the company’s research and development arm, Apothecary Labs.
Solace already distributes its products in Canada through over 3,000 stores, with international distribution to European, Caribbean and North American markets.
For more information, visit the company’s website at www.GeyserBrands.com
NOTE TO INVESTORS: The latest news and updates relating to GYSR are available in the company’s newsroom at http://cnw.fm/GYSR
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