17:03:56 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Arev Brands International Ltd
Symbol AREV
Shares Issued 45,834,209
Close 2019-04-25 C$ 0.22
Market Cap C$ 10,083,526
Recent Sedar Documents

Arev working with Silvertree for California expansion

2019-04-25 16:51 ET - News Release

Mr. Mike Withrow reports

AREV INTERNATIONAL BRANDS LTD. ANNOUNCES FOCUS AND ROLL OUT IN CALIFORNIA

Arev Brands International Ltd. has worked closely with Silvertree Investments of Los Angeles, Calif., over the past year. Silvertree has been actively researching, identifying and developing a strategy for Arev Brands USA Inc. to enter into the California market -- a process that has involved very extensive due diligence and networking.

This lengthy process has resulted in Silvertree identifying and commencing negotiations with principal licence holders in Los Angeles, King City, Long Beach, California City, San Diego and Pasadena. The mandate is to enter into 50-per-cent/50-per-cent partnerships with the licence holders that will continue to operate and join Arev's network of licences in the state.

This plan would create a select group of licence holders that link with each other to form the largest alliance and network of cultivation, processing, manufacturing and distribution organization south of San Francisco in the state of California.

The combined licence holders would gain access to the inside (two) cover pages in the High Times magazine and access to the seed vault owned by B.C. Bud Depot, a wholly owned asset of Arev. The High Times ad space drives traffic and customers to the B.C. Bud Depot website, which in turn will direct orders to the licensed partner in the customer's county that the licence holder serves.

B.C. Bud Depot supplies the genetics to the partners, ensuring consumers receive quality products from a trusted and reliable source. Arev will work with the licence holders of extraction licences and Alternative Extracts Inc. to bring proprietary extraction to the network.

The company has issued 800,000 shares to settle $200,000 in debt with Silvertree. These costs were incurred in the normal course of business associated with the consulting work discussed herein.

The company has settled $32,326.88 in debt with 0991843 B.C. Ltd. by the issuance of 129,307 shares; all shares for debt are being issued at 25 cents. This issuance is for the acquisition of two-piece encapsulation equipment, a 1,000-litre ribbon blender and a tea bag machine. This equipment is in addition to the recently acquired soft-gel system the company owns and complements the production equipment to be installed in the Sorrento processing facility due to be completed by the fall of 2019.

Mike Withrow, chief executive officer, stated: "We continue to methodically build on our strategy of providing the cannabis industry with superior genetics, extraction and formulations that are produced and sold via licensing partnerships on an international platform. To accomplish this, we are only working with seasoned professionals in the cannabis industry. We are also very carefully managing our capital and share structure when deals are being structured."

The company has issued 100,000 stock options to directors, officers and consultants of the company at a price of 22 cents for a period of five years from the issuance date. These options will vest immediately.

About Arev Brands International Ltd.

Arev Brands International produces and delivers functional compounds and ingredients from its extraction systems. Arev is revolutionizing the current delivery method of terpenes, cannabinoids and flavonoids. These premium ingredients and formulations are used in products targeted for sale in the natural health, medical, functional food, nutraceutical, sport nutrition and bioceutical markets. Arev innovates through extraction to produce extracts from specific selected plant and exude from trees that address five areas of health, including anxiety, pain management, insomnia, central nervous system disorders and libido.

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