(TheNewswire)
September 22, 2022 – TheNewswire - Molecule Holdings Inc. (CSE:MLCL) (OTC:EVRRF) (“ Molecule ” or the“ Company ”), a Canadian craft-focused cannabis beverage productioncompany, today is pleased to provide a general corporate update, including regardingthe Company’s spring and summer product launches into the OntarioCannabis Store (the “ OCS ”).
The product releases included new flavours from thefollowing brands: PHRESH Summer Punch, Blue Raspberry, and MangoPeach, PHRESH STRAINS Pineapple Express, EMBODY Blood Orange &Rosemary and Mint & Honey, KLON Strawberry Wackari, and CANAJORegular and Espresso Spice. Following the launch, there are a total of11 Molecule-owned SKUs in OCS. The performance results on allproducts, except for the CANAJO brand SKUs, have been veryencouraging. The Company is considering its options relating to theCANAJO products and will update the market as required. For the monthsof July and August, total product sales were over 220,000units.
The Company is also set to launch an additional four(4) new products into the OCS during its October product release,which is expected to include three (3) new PHRESH STRAINS flavours anda limited release holiday beverage: PHRESH Candy Cane Twist.
Commented David Reingold, CEO of the Company,“ We are excited about our recent productlaunches and the increase in sales we have enjoyed in the OCS throughthe summer months. We expect our key brands to become top performerswithin their individual beverage sub-categories. We are also pleasedwith our relationship with the OCS and are hopeful for additionallistings in the upcoming product calls.”
Award of RSUs
The Company has awarded 3,000,000 restricted shareunits (“ RSUs ”) to an officer of the Company (the “ Holder ”). Uponsettlement of the RSUs, the Holder shall have the ability to acquireone Common Share underlying each such RSU, a cash payment in lieuthereof, or a combination of both, at the sole discretion of theBoard. 50% of the RSUs vest on January 31, 2023, with the remaindervesting on January 31, 2024, and have been granted in accordance withthe Company’s RSU plan dated January 21, 2021.
For further information, please contact:
André Audet, Chairman and Co-Founder
Phone: 1 (888) 665-2853 x101
Email: andre@molecule.ca www.molecule.ca
About MoleculeHoldings Inc.
Molecule is a licensed producerdedicated to creating cannabis-infused beverages for the Canadian market. We produce leading,top-quality drinks to provide opportunity and choice to people seekinga convenient and social way to consume cannabis. Molecule is focusedon growing both our portfolio, and the overall cannabis beveragemarket. We want to ensure people have the best opportunity to findexactly the product and experience they thirst for.
Neither the CSE nor its regulation services provideraccepts responsibility for the adequacy or accuracy of this pressrelease.
Cautionary Note
This press release containsstatements that constitute “forward-looking information”(“forward-looking information”) within the meaning of theapplicable Canadian securities legislation. All statements, other thanstatements of historical fact, are forward-looking information and arebased on expectations, estimates and projections as at the date ofthis news release. Any statement that discusses predictions,expectations, beliefs, plans, projections, objectives, assumptions,future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”,“anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”,“believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may”or “could”, “would”, “might” or “will” be taken tooccur or be achieved) are not statements of historical fact and may beforward-looking information. Forward-looking information in thispress release includes: statements related to the future of the CANAJObrand products; statements regarding the October product launch in theOCS; the expected performance of the Company’s key brands; theCompany’s ongoing relationship with the OCS; and the Company’s ability to producecannabis-infused beverages for the Canadian beverage market to provideopportunities for people to consume cannabis. In disclosing theforward-looking information contained in this press release, theCompany has made certain assumptions.
The Company's actual results coulddiffer materially from those anticipated in this forward-lookinginformation as a result of regulatory decisions, competitive factorsin the industries in which the Company operates, prevailing economicconditions, and other factors, many of which are beyond the control ofthe Company. The Company believes that the expectations reflected inthe forward-looking information are reasonable, but no assurance canbe given that these expectations will prove to be correct and suchforward-looking information should not be unduly relied upon. Anyforward-looking information contained in this news release representsthe Company's expectations as of the date hereof and is subject tochange after such date. The Company disclaims any intention orobligation to update or revise any forward-looking information whetheras a result of new information, future events or otherwise, except asrequired by applicable securities legislation.
Copyright (c) 2022 TheNewswire - All rights reserved.