04:33:37 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Lotus Ventures Inc
Symbol J
Shares Issued 84,074,799
Close 2019-10-02 C$ 0.185
Market Cap C$ 15,553,838
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Lotus Ventures completes first cannabis harvest

2019-10-02 09:18 ET - News Release

Mr. Dale McClanaghan reports

LOTUS VENTURES PROVIDES UPDATE ON INITIAL HARVEST

Lotus Ventures Inc. has successfully harvested its initial batch of cannabis, comprising high-quality and award-winning strains. Naturally, the harvest, drying and curing stages are vital to a producer's final product, and the company's team feels confident with its experience in each stage.

Subsequent to drying and trimming the cannabis for two to three weeks, Lotus will then send a representative sample to a third party laboratory for microbiological testing. Once the company has received a confirmation of analysis (COA), which confirms the product conforms to Health Canada's testing requirements, bulk shipments are expected to be delivered to its streaming partner, Auxly Cannabis Group Inc., immediately.

New investor presentation

With the recent news regarding the vaping industry, Lotus believes it has taken the right approach to focus on the cultivation aspect of the business before rushing into the next wave of value-added products. As the company has seen in mature American markets, dried cannabis flower continues to command higher market share, and the company does not see this trend changing in the near term as more Canadian flower consumers transition into licensed retail channels.

About Lotus Ventures Inc.

Lotus Ventures is an Okanagan-based licensed producer that is focused on growing exceptional cannabis products for the wholesale and recreational market in Canada. Lotus operates an innovative, 22,500-square-foot growing facility with access to unique proven strains and an entirely handcrafted production process created by one of the regions most experienced growing teams.

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