MPXOF - MPX International's Wholly-Owned Subsidiary Canveda Inc. Enters into a Supply Agreement with the Alberta Provincial Retail Regulator for Strain Rec(TM) Products
(TheNewswire)
TORONTO, ONTARIO - TheNewswire- October 1 , 2020 - MPX InternationalCorporation (" MPX International ", " MPXI " or the" Corporation ") (CSE:MPXI ) ; (CNSX:MPXI.CN); ( OTC:MPXOF), a multinational diversifiedcannabis company, is pleased to announce anagreement dated August 7, 2020 between Canveda Inc.(" Canveda "), a licence holder under the Cannabis Act (Canada), and Alberta Gaming, Liquor & Cannabis (" AGLC ") for the supply of cannabis under Canveda'srecreational brand, StrainRec(TM) . Initially, Canveda will supply severalstrains of unique, high quality flower which will be sold by retailoutlets in the Province of Alberta, as well as throughAlbertaCannabis.org. Additional product SKUs will follow as Canveda'sproduct offering diversifies. The agreement will continue untilDecember 1, 2021, unless terminated earlier and may be extended uponmutual agreement of the parties for a maximum of 2 additional terms ofup to 18 months each.
"We are very pleased to expand our Strain Rec (TM) brandoffering into the Province of Alberta which has been very progressivein the cannabis retail space. We see this as a great opportunity forour products to become a main stay in the Canadian retailmarket," said Michael Arnkvarn, Chief Operating Officer, Canadaof MPXI. "Following the successful introduction of the Strain Rec(TM) brand in Saskatchewan in June, this supply agreement is animportant step in our overall retail strategy which we continue todevelop. The first shipment of products to Alberta was sent last weekand marketing efforts to retail outlets have commenced, with productexpected to be available for purchase in early October."
"We feel that the private ownership concept ofretail stores in Alberta will allow us more direct marketingopportunities and a quick acceptance of Strain Rec (TM)branded products by Alberta's retailers," noted W. Scott Boyes,Chairman, President and CEO of MPX International. "Withagreements now in place for Alberta and Saskatchewan, we are indiscussions to expand into other provinces to increase our reach torecreational customers in Canada. We are by no means shifting awayfrom a medical focus of the cannabis business and we will continue todevelop this sector to the fullest, both in Canada andinternationally, but our past experience with MPX Bioceutical in theUS has taught us that we need to be present in both the medical andadult use markets in order to optimize MPXI's Canadian growthstrategy."
About MPX InternationalCorporation
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 fourcontinents in Canada, Switzerland, South Africa, Malta and Australiaas well as evolving partnership and distribution opportunities inother jurisdictions, MPXI continues to position itself as an emergentglobal participant in the cannabis industry.
Cautionary Statement RegardingForward-Looking Information
This news release includes certain"forward-looking statements" under applicable Canadiansecurities legislation that are not historical facts. Forward-lookingstatements involve risks, uncertainties, and other factors that couldcause actual results, performance, prospects, and opportunities todiffer materially from those expressed or implied by suchforward-looking statements. Forward-looking statements in this newsrelease include, but are not limited to, MPX International'sobjectives and intentions. Forward-looking statements are necessarilybased on a number of estimates and assumptions that, while consideredreasonable, are subject to known and unknown risks, uncertainties andother factors which may cause actual results and future events todiffer materially from those expressed or implied by suchforward-looking statements. Such factors include, but are not limitedto: general business, economic and social uncertainties; litigation,legislative, environmental and other judicial, regulatory, politicaland competitive developments; delay or failure to receive board,shareholder or regulatory approvals; those additional risks set out inMPX International's public documents filed on SEDAR at www.sedar.com , including its audited annualconsolidated financial statements for the financial years endedSeptember 30, 2019 and 2018 and the corresponding annual 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 thedisclosed time frames or at all. Except where required by law, MPXInternational disclaims any intention or obligation to update orrevise any forward-looking statement, whether as a result of newinformation, future events, or otherwise.
For further information, pleasecontact:
MPX International Corporation
W. Scott Boyes, Chairman, President andCEO
T: +1-416-840-4703
info@mpxinternationalcorp.com
http://mpxi.tv
For additional information on MPXI visitour website www.mpxinternationalcorp.com or http://mpxi.tv .
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