(TheNewswire)
Vancouver, BritishColumbia – September 28 2022 - LuffEnterprises Ltd., ( CSE: LUFF )(“ LUFF ” or the “ Company ”) is pleased to announcethat it has commenced sales on its recently acquired cannabismarketplace herbaldispatch.com (“ Herbal Dispatch ”).
LUFF has engaged over 50 licensed producers as potential supplierswith over 30 of them qualified as approved vendors with 127 SKUsapproved for sale on the marketplace. It is expected that another 10vendors and 170 SKUs will be added to the site in the coming weeksmaking Herbal Dispatch already one of the largest purveyors of medicalcannabis products in Canada.
Medical cannabis sales in Canada show a lot of promise, with HealthCanada reporting 257,059 registered medical patients at the end ofDecember 31, 2021. They placed a total of 859,581 orders in the sameyear 1 . Veterans AffairsCanada also reported annual medical cannabis coverage for veteranstotalling $119,000,000 in fiscal 2020-2021 with it expected to grow to$321,500,000 by fiscal 2025-2026 2 . The Company believes its capital-lean andhighly-scalable business model will capture a meaningful portion ofthis market.
LUFF CEO, Philip Campbell commented, “This marks an incrediblyimportant milestone for LUFF, with Herbal Dispatch officiallycommencing sales in our home market of Canada. The pre-registrationcampaign has been overwhelmingly positive with over 32,000 engagedemail recipients, 6,500 new unique accounts, and almost 1,000 memberspre-registered and eligible to purchase from the site. We areexcited to see strong early momentum in our customer registration.With the preliminary product offering available on September 27, 2022,we expect this to accelerate further.”
ABOUT HERBAL DISPATCH
Herbal Dispatch is a cannabis e-commerce platform dedicated toproviding top quality products to informed consumers at affordablepricing and continuing its legacy as a trusted source for exclusiveaccess to small-batch craft cannabis flower and a wide-array of otherproduct formats. Members registered with Herbal Dispatch trust thatthe dedicated client care team will ensure a great experience, fromordering to delivery to your door, and can rest assured thateverything is at or below retail/provincial prices.
ABOUT LUFF ENTERPRISES LTD.
Luff owns and operates leading cannabise-commerce platforms in both Canada and the United States and isdedicated to providing top quality cannabis to informed consumers ataffordable pricing. Luff’s flagship cannabis marketplace, HerbalDispatch, is a trusted source for exclusive access to small-batchcraft cannabis flower and a wide-array of other product formats.
Luff’s common shares trade on the Canadian Securities Exchange underthe symbol “ LUFF ”.
FOR FURTHER INFORMATION:
Philip Campbell, CEO and Director
Email: IR@luffbrands.com
Telephone: 250-419-7665
Sources:
1:https://www.canada.ca/en/health-canada/services/drugs-medication/cannabis/research-data/medical-purpose.html#a5
2:https://www.veterans.gc.ca/eng/about-vac/publications-reports/reports/departmental-audit-evaluation/2022-audit-cannabis-for-medical-purposes/3-0#3.7
CAUTIONARY NOTE REGARDINGFORWARD-LOOKING INFORMATION:
Certain statements in this news release, including statements orinformation containing terminology such as “anticipate”,“believe”, “intend”, “expect”, “estimate”, “may”,“could”, “will”, and similar expressions constitute“forward-looking statements” within the meaning of applicableCanadian securities legislation. All statements, other than statementsof historical fact, that address activities, events, or developmentsthat the Company or a third party expect or anticipate will or mayoccur in the future, including the Company’s future growth, resultsof operations, performance, and business prospects and opportunitiesare forward-looking statements. These forward-looking statementsreflect the Company’s current beliefs and are based on informationcurrently available to the Company. These statements require theCompany to make assumptions it believes are reasonable and are subjectto inherent risks and uncertainties. Actual results and developmentsmay differ materially from the anticipated results and developmentsdiscussed in the forward-looking statements as certain of these risksand uncertainties are beyond the Company’s control. These riskfactors are interdependent and the impact of any one risk oruncertainty on a particular forward-looking statement is notdeterminable. Examples of forward-looking statements in this newsrelease and the key assumptions and risk factors involved in suchstatements include, but are not limited to, expanding the Company’sbusiness into Canada and the future success of Herbal Dispatch. Thesuccessful execution of the Company’s growth initiatives is subjectto a number of risks and uncertainties, including industry competitionand future customer demand for the Company’s products, among others.
Consequently, all of the forward-looking statements made in this newsrelease are qualified by these cautionary statements and othercautionary statements or factors contained herein, and there can be noassurance that the actual results or developments will be realized or,even if substantially realized, that they will have the expectedeffects on Luff. These forward-looking statements are made as of thedate of this news release. Except as required by applicable securitieslegislation, the Company assumes no obligation to update publicly orrevise any forward-looking statements to reflect subsequentinformation, events, or circumstances.
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