March 2, 2021

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BevCanna Addresses Progress on Health Canada Regular Processing Licence Issuance

BevCanna Addresses Development on Wellness Canada Standard Processing Licence Issuance

Imminent receipt of licence will make it possible for the Corporation to commence creation and distribution of cannabis-infused drinks in Canada

Rising leader in infused cannabis drinks, BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC) (“BevCanna” or the “Enterprise”) confirmed now that its software for a Regular Processing Licence (SPL) is in the ultimate phases of the in-depth assessment with Wellbeing Canada.

BevCanna is delighted to supply the following commentary to provide added clarity and certainty with regard to the timing of the expected receipt of its Overall health Canada-issued Regular Processing License. BevCanna confirmed that Overall health Canada is in the ultimate levels of the in-depth overview and the Firm expects receipt soon. The Organization submitted its official responses to Overall health Canada’s Ask for for Much more Facts (RMI) on January 12, 2021, and acquired confirmation of receipt from the Well being Canada Assigned Reviewer on January 13, 2021. Overall health Canada confirmed that whilst BevCanna has knowledgeable a limited hold off in Licence processing, last discussions in relation to the issuance of the Typical Processing Licence are now approaching completion.

The application is envisioned to progress to Wellbeing Canada’s Management Assessment Board for remaining indicator-off and the Licence to be issued imminently. Once granted, BevCanna will be totally licensed to get started manufacturing of hashish-infused products and solutions at its reducing-edge substantial-capability beverage producing facility in Osoyoos, B.C., and will start off creation of its white-label items. Commercialization of its in-household makes as a result of accredited Canadian stores will start in the to start with quarter.

“We’ve extremely pleased that our Common Processing Licence software is on observe for imminent acceptance,” said Marcello Leone, CEO of BevCanna. “Receipt of our SPL is an essential milestone for our Canadian production and distribution strategy. Developing and distributing substantial-excellent cannabis-infused beverages in Canada, for equally our in-household brands and our white-label purchasers, is a essential pillar in our evolution into an all-encompassing health and wellness merchandise company. We’re psyched to acquire this subsequent phase.”

BevCanna’s landmark acquisition of Naturo Group Investments Inc., which includes $37M+ in property, which is predicted to near in February 2021, the Company’s Pure Therapy e-commerce platform and BevCanna’s strategic North American distribution partnership with U.S.-based mostly Keef Brands variety the other a few pillars of the Company’s transformative approach.

BevCanna will before long believe the exceptional place of staying the only absolutely certified, in-home and white-label beverage production company that distributes both of those typical and hashish-dependent beverage and wellness goods by means of world wide, multi-channel distribution networks of standard and cannabis revenue channels. The Corporation is actively engaged in negotiations to finalize definitive agreements with a range of new white-label consumers and formalize distribution interactions with provincial distributors, though also focusing on industrial readiness for the Q1 and Q2 Canadian launches of their in-home brand names, white-label products and solutions and Keef-branded product or service traces.

About BevCanna Enterprises Inc.

BevCanna Enterprises Inc. (CSE:BEV, OTCQB:BVNNF, FSE:7BC) develops and manufactures cannabis–infused beverages and shopper items for in–house manufacturers and white label customers. With a long time of practical experience developing, branding and distributing iconic models that have resonated with individuals on a international scale, the group demonstrates an experience unmatched in the rising cannabis beverage classification. Based mostly in British Columbia, Canada, BevCanna owns the unique rights to a pristine spring h2o aquifer, access to a world–class 40,000–square–foot, HACCP licensed producing facility, with a present-day bottling capability of up to 210M bottles for each annum. BevCanna also just lately obtained US all-natural health and fitness and wellness e-commerce system Pure Remedy. BevCanna’s vision is to be a worldwide chief in infused innovations.

On behalf of the Board of Directors:

John Campbell, Chief Monetary Officer and Chief Strategy Officer

Director, BevCanna Enterprises Inc.

Ahead-Hunting Data

This news launch might involve forward-wanting data inside the which means of Canadian securities laws, relating to the small business of the Organization. Forward-on the lookout information and facts is primarily based on specified key anticipations and assumptions created by the management of the Company, which include the statements regarding: its application for a Conventional Processing Licence, together with the predicted receipt and timing thereof that at the time the licence is granted, BevCanna will be fully authorized to start off creation of cannabis-infused goods at its marketplace foremost large-capability beverage producing facility and will begin manufacturing for its white-label consumers and commercialization of its in-home models by certified Canadian retailers in the first quarter the predicted February 2021 close of BevCanna’s landmark acquisition of Naturo Team Investments Inc., including $37M+ in belongings that BevCanna is in negotiations to finalize definitive agreements with a amount of new white-label clientele and formalizing distribution relationships with provincial distributors, though also concentrating on professional readiness for the Q1 and Q2 Canadian launches of their in-residence brand names, white-label products and solutions and Keef-branded merchandise strains and other statements pertaining to the company plans of the Firm.

Forward-on the lookout statements are dependent on sure assumptions about the issuances of licenses by Health Canada to the Company under the Hashish Act future good legislative, tax and regulatory developments with respect to hashish a ongoing substantial regulatory barrier entry for cannabis-infused beverages successful and timely commercialization of the company’s products thriving and timely negotiation of a variety of agreements the closing of the Company’s earlier declared acquisition of Naturo Team Investments Inc. and expectations with regard to the long term growth of recreational cannabis merchandise. Though the Corporation considers these assumptions to be sensible, based on information at this time available, they may perhaps establish to be incorrect. Readers are cautioned not to location undue reliance on ahead-on the lookout statements. The assumptions of the Corporation, even though viewed as reasonable by it at the time of preparing, could confirm to be incorrect. In addition, ahead-wanting statements always include acknowledged and unknown hazards, which include, devoid of limitation, the Organization not remaining issued licences by Health and fitness Canada that the events may perhaps not be equipped to satisfy the ailments to closing of the acquisition of Naturo, which include acceptance by the shareholders of one or both events, as applicable threats associated with general economic problems risks involved with climate and agriculture changes in customer choices adverse sector occasions upcoming legislative, tax and regulatory developments incapacity to access sufficient capital from internal and external sources, and/or inability to entry adequate funds on favourable phrases the incapability to carry out company techniques competition currency and desire amount fluctuations and other challenges. Visitors are cautioned that the foregoing record is not exhaustive. Visitors are additional cautioned not to place undue reliance on ahead-seeking statements as there can be no assurance that the plans, intentions or expectations on which they are positioned will happen. Such facts, although viewed as realistic by management at the time of preparation, may perhaps show to be incorrect and genuine outcomes may possibly vary materially from those people expected. For more info on the possibility, uncertainties and assumptions that could trigger expected prospects and genuine benefits to vary materially, remember to refer to the general public filings of the Enterprise which are available on SEDAR at www.sedar.com. Forward-wanting statements contained in this news launch are expressly skilled by this cautionary statement and reflect our expectations as of the date hereof, and consequently are subject to adjust thereafter. The Enterprise disclaims any intention or obligation to update or revise any ahead-wanting statements, irrespective of whether as a outcome of new info, foreseeable future occasions or otherwise, apart from as required by law, and the Company does not presume any liability for disclosure relating to any other organization pointed out herein.

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For media enquiries or interviews:

Wynn Theriault, 30 Sprint Communications Inc.

416-710-3370

[email protected]

For trader enquiries:

Luca Leone, BevCanna Enterprises Inc.

604-880-6618

[email protected]

Check out supply variation on businesswire.com: https://www.businesswire.com/news/household/20210126005431/en/