MPXOF - MPX International announces the Integration of H12 Brands with its Wholly-Owned Subsidiary Canveda Inc.
(TheNewswire)
TORONTO, ONTARIO – TheNewswire- January 6, 2022– MPX InternationalCorporation ( CSE:MPXI ) ; (CNSX:MPXI.CN); ( OTC:MPXOF) (“ MPX International ”,“ MPXI ” or the “ Corporation ”) , a multinational diversified cannabis company, ispleased to announce that it has acquired all ofthe intellectual property of 11157337 CanadaCorp and H12 Brands Inc. (“ H12 ”), includingseveral well-established brands and distribution channels pursuant toan asset purchase agreement dated November 30, 2021. The H12 businesswill be integrated with MPXI’s wholly-ownedsubsidiary, Canveda Inc. (“ Canveda ) , a license holder under the Cannabis Act (Canada)..
The acquisition of H12’s intellectual propertyprovides Canveda with several new highly recognized cannabis brandsand products which are listed with the provincial boards of BritishColombia, Alberta, Ontario and independent licensed distributors inSaskatchewan. The most recognizable brands are Kingsway pre-rollswhich are marketed in two versions, namely “Day Shift” (Sativa)and “Night Shift” (Indica) as well as the successful Daize brandof full spectrum vapes.
The previous business model for High 12 Brand’srequired a partnership with a group of licensed producers whichmanufactured the products under license from H12 and sold themdirectly to the provincial cannabis boards. High 12 was not itself alicensed cannabis producer. The acquisition by MPXI will allow itswholly owned subsidiary, Canveda Inc, a fully Health Canada LicenseHolder to produce, market and promote the High 12 Brands directly tothe boards generating much higher margins than were available toH12.
Several new products/concepts have been developed andpresented to the provincial boards including additional fullspectrum vapes currently in vogue in the vape market. BC and Ontariohave already accepted to list these new products. The Kingsway productline has been expanded with a new “Split Shift” concept of amulti-pack 14- unit pre-roll pack with 7 sativa and 7 indicapre-rolls. As well, the “Pennies” brand, a low-cost package of 5soft gels has recently been introduced into BC and Alberta with agreat response.
Additionally, the acquisition brought new sales andmarketing talent to Canveda. Joining Canveda as Vice President ofBusiness Development is Jaime Cahill. Jaime has spent the last twoyears working in the cannabis industry launching products underH12’s brand portfolio in Canada and learning about the Europeanmedical cannabis market. She was previously an investment banker atNational Bank after earning her MBA in Finance from DalhousieUniversity and a BSc in Chemistry at St. Francis Xavier University.Jaime is thrilled to be joining a passionate team at Canveda and looksforward to bringing new and innovative products to the market as thecannabis industry continues to grow.
Tanner Baines has accepted the position as Canveda’sNational Sales Director. Tanner has spent the past year working withretail networks to successfully launch H12 branded products acrossCanada. Prior to joining the cannabis industry, he managed teams andoperations in the craft beer industry. With a strong background insales, Tanner is very excited to be joining the talented team atCanveda and looks forward to expanding brand recognition and sales ofCanveda’s brands across the country.
“The acquisition of the High 12 Brands is a pivotalstep for our Canadian recreational business. The diversity of theproduct selection, as well as the high-level brand recognition byconsumers will allow us greater marketpenetration in the crowded Canadian recreational cannabis space,”said Michael Arnkvarn, Chief Operating Officer, Canada of MPXI.“Additional products and brands are in development and will beannounced in due course allowing Canveda to augment revenues andearnings and to stay relevant with our customers.”
About MPX International Corporation
MPX International Corporation is a multinational diversified cannabis company focused on developing and operating assets across theinternational cannabis industry with an emphasis on cultivating,manufacturing and marketing products which include cannabinoids astheir primary active ingredient. With current operations spanning fivecontinents in Canada, Switzerland, South Africa, Malta, Australia andThailand as well as evolving partnership and distributionopportunities in other jurisdictions, MPXI continues to positionitself as an emergent global participant in the cannabisindustry.
Cautionary Statement RegardingForward-Looking Information
This news release includes certain“forward-looking statements” under applicable Canadian securitieslegislation that are not historical facts. Forward-looking statementsinvolve risks, uncertainties, and other factors that could causeactual results, performance, prospects, and opportunities to differmaterially from those expressed or implied by such forward-lookingstatements. Forward-looking statements in this news release include,but are not limited to, MPX International’s objectives andintentions. Forward-looking statements are necessarily based on anumber of estimates and assumptions that, while considered reasonable,are subject to known and unknown risks, uncertainties and otherfactors which may cause actual results and future events to differmaterially from those expressed or implied by such forward-lookingstatements. Such factors include, but are not limited to: generalbusiness, economic and social uncertainties; litigation, legislative,environmental and other judicial, regulatory, political andcompetitive developments; delay or failure to receive board,shareholder or regulatory approvals; the Corporation’s ability toeffectively deal with the restrictions, limitations and health issuespresented by the COVID-19 pandemic; future cannabis pricing; cannabiscultivation yields; costs of inputs; its ability to market productssuccessfully to its anticipated clients; reliance on key personnel andcontracted relationships with third parties; the regulatoryenvironment in Australia, Canada, Malta, South Africa, Switzerland andother international jurisdictions; the ability to complete any futurepotential transactions and the terms and conditions thereof; theapplication of federal, state, provincial, county and municipal laws;and the impact of increasing competition; those additional risks set out in MPXInternational’s public documents filed on SEDAR at www.sedar.com , including its audited annualconsolidated financial statements for the financial years endedSeptember 30, 2020 and 2019, and the corresponding management’sdiscussion and analysis; and other matters discussed in this newsrelease. Although MPX International believes that the assumptions andfactors used in preparing the forward-looking statements arereasonable, undue reliance should not be placed on these statements,which only apply as of the date of this news release, and no assurancecan be given that such events will occur in the disclosed time framesor at all. Except where required by law, MPX International disclaimsany intention or obligation to update or revise any forward-lookingstatement, whether as a result of new information, future events, orotherwise.
For further information about MPXI,please contact:
MPX International Corporation
W. Scott Boyes, Chairman, President andCEO
T: +1-416-840-4703
info@mpxinternationalcorp.com
or visit one our websites:
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