(TheNewswire)
February 11 2021 - TheNewswire - Ottawa, Ontario – Molecule Holdings Inc. (C NSX :MLCL. CN ) (“ Molecule ” or the“ Company ”), a Canadian craft-focused cannabis beverage productioncompany, is pleased to announce that it has finalized the definitiveagreement with Proper Cannabis (“Proper ” ), and hasreceived its initial deposit for production and distribution ofcannabis beverages. The company also granted stock options inaccordance with its Stock Option Plan.
Molecule is a licensed cannabis beverage manufacturingcompany, which produces beverages for brand-partners, as well asproducing its own house brands. The beverages are sold to Provincialwholesalers via a sales-license partnership with Vortex Cannabis Inc.The definitive agreement with Proper is exclusive and covers allmarkets in Canada for the production and distribution of cannabisbeverages. Molecule has now begun producing and storing thesebeverages, in preparation to begin selling to the Ontario CannabisStore (OCS) and other provincial retailers.
“Proper first approached us in 2018, and we have beenworking together ever since. We are very happy to announce the signingof this agreement with Proper, and the subsequent receipt of a depositfor cannabis beverage production. This is a big milestone forMolecule, as it represents our first receipt of funds related toco-packing cannabis beverages,” said Molecule President and CEO PhilWaddington.
“Proper is thrilled to partner with Molecule to bringour Proper craft cannabis infused sparkling water to market. We arenot a large company, but we have big aspirations to deliverpassionately created beverages to consumers who share our values andtastes,” said Proper Founder, Derek Prentice.
GRANTING OF STOCK OPTIONS
The Company also announces that it has granted a totalof 2,600,000 stock options to certain directors, officers, employeesand consultants in accordance with its Stock Option Plan. All optionsvest on the four month anniversary of their date of grant and eachoption entitles the holder to purchase one common share of the Companyat an exercise price of $0.15 per share for a period of five yearsfrom the date of grant.
ON BEHALF OF THE BOARD
MOLECULE HOLDINGS INC.
Per: “ PhilipWaddington ”
President, CEO and Director
For further information, pleasecontact:
André Audet, Chairman andCo-Founder
Phone: 1 (888) 665-2853 x101
Email: andre@molecule.ca
About Molecule Holdings Inc.
Molecule works with client-partners to engage in theproduction of cannabis-infused beverages and edibles. We provide theinfrastructure, know-how, technology, and licensing for craftproducers to create consumable cannabis products. Molecule’s goal isto be the on-ramp for companies wishing to enter into the cannabisbeverage and edibles market, but who choose not to go through thesignificant process of obtaining the required cannabislicences.
Neither the Canadian SecuritiesExchange nor its regulation services provider accepts responsibilityfor the adequacy or accuracy of this press release.
Forward-Looking Statements
Certain statements contained in thisnews release may constitute forward-looking information.
Forward-looking information isoften, but not always, identified by the use of words such as"anticipate", "plan", "estimate","expect", "may", "will","intend", "should", and similar expressions.Forward-looking information involves known and unknown risks,uncertainties and other factors that may cause actual results orevents to differ materially from those anticipated in suchforward-looking information. The Company's actual results could differmaterially from those anticipated in this forward-looking informationas a result of regulatory decisions, competitive factors in theindustries in which the Company operates, prevailing economicconditions, and other factors, many of which are beyond the control ofthe Company. In this news release, the Company is makingforward-looking statements with respect to selling cannabis beveragesto Provinces. 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.
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