(TheNewswire)
Vancouver, British Columbia – Luff Enterprises Ltd., ( CSE:LUFF ) (“ LUFF ”or the “ Company ”) ispleased to provide an update on its marketplace rollout.
As previously announced, the Company commenced sales on its recentlyacquired cannabis marketplace herbaldispatch.com (“ Herbal Dispatch ”) on September 27,2022 and generated net revenue of $25,000 for the initial four-dayperiod ended September 30, 2022. Revenues are building steadily andthe Company is targeting a multi-channel approach to customeracquisition. The Company is pleased to report strong interest fromthe Herbal Dispatch community and its targeted and differentiatedproduct offering is seeing promising early take-up.
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.
“The Company’s online marketplace strategy allows us to offer abroader range of competitively priced products while capturingintermediary margins by selling directly to the final consumer,”said Philip Cambell, Luff’s President & CEO. “With the largeoversupply of cannabis in Canada and the compression of wholesaleprices, we believe this capital efficient technology focused strategywill allow us to scale up sales quickly and efficiently whilecapturing stronger gross margins.”
“Over the coming months, we plan on implementing several new andexpanded direct-to-consumer marketing campaigns to bring furtherawareness to our new Herbal Dispatch brand and product offerings.”
To date, LUFF has engaged over 50 licensed producers that are nowqualified as approved vendors with over 600 SKUs approved for sale onthe marketplace making Herbal Dispatch already one of the largestpurveyors of medical cannabis products in Canada.
The Company’s consolidated financial results for thethree and nine months ended September 30, 2022 have been filed onSEDAR. The full version of the condensed interim consolidatedfinancial statements and associated management's discussion &analysis can be viewed on the Company's website at www. luffbrands.com or under the Company's profile on SEDARat www.sedar.com .
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.Members registered with Herbal Dispatch trust that the dedicatedclient care team will ensure a great experience, from ordering todelivery to your door, and can rest assured that everything is at orbelow retail/provincial prices.
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
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, growing the Company’sbusiness in 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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