09:22:44 EDT Thu 28 Mar 2024
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or Name
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CA



Organic Flower Investments Group Inc
Symbol SOW
Shares Issued 175,090,141
Close 2019-04-18 C$ 0.405
Market Cap C$ 70,911,507
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Organic Flower to acquire rights to dispensing cap tech

2019-04-18 12:38 ET - News Release

Mr. Joel Dumaresq reports

ORGANIC FLOWER TO ACQUIRE EXCLUSIVE CANADIAN RIGHTS TO A TRANSFORMATIVE DISPENSING CAP TECHNOLOGY AND DELIVERY MECHANISM

Organic Flower Investments Group Inc. has entered into a binding letter of intent, dated April 17, 2019, to acquire the exclusive rights to a portfolio of disruptive cannabis beverage assets and intellectual property (IP). This acquisition will position Organic Flower as the industry's sole Canadian manufacturer and distributor of an innovative beverage dispensing cap technology, equipped with a proprietary cannabinoid delivery mechanism.

Disruptive dispensing cap technology

Organic Flower's cannabis-infused beverages will leverage patented pharmaceutical-grade dispensing cap technology, as well as advanced delivery mechanisms to provide optimized ingredient effectiveness for the end consumers. With a simple twist of the cap, this intuitive technology enables the blending of premium, preserved cannabinoids into an assortment of bottled liquids -- ensuring the consumer receives the full range of functional benefits at the moment of consumption.

The state-of-the-art delivery technology is certified for health care and pharmaceutical applications; Organic Flower anticipates that it will pioneer an elevated industry standard of quality. The delivery mechanism boasts a patented airtight and moisture-resistant bottle cap to protect volatile ingredients such as cannabinoids, antibiotics, probiotics, vitamins and minerals resulting in superior shelf stability for infused bottled beverages. The dispensing cap technology allows for increased efficacy when compared with premixed beverages, which are susceptible to rapid nutrient deterioration.

Refined over five years, with research and development expenditures of $30-million, Organic Flower will leverage its exclusive rights to a marquee dispensing cap technology and delivery mechanism to revolutionize the North American cannabinoid-infused beverage marketplace.

Organic Flower plans to offer thoughtfully curated beverage blends to enhance human performance with three core formulations -- energy, relax and recover. The company has paired the advanced cap technology with market-tested formulations to develop drinks that are expected to lead innovation in the cannabis-infused beverage industry.

Organic Flower will foster the ultimate infused beverage experience, while focusing on what consumers care about most:

  • Potency: Nutrients degrade when exposed to heat, moisture and light. The cap protects activities of the powerful cannabis ingredients and helps to retain their potency.
  • Effectiveness: Only premium, science-based, most effective active ingredients have been used in combination with expertly developed formulations.
  • Freshness: These proprietary bottled beverages offer the freshest and crispest flavours, aromas and colour by keeping them protected from light and moisture, delivering an amazing drinking experience.

Joel Dumaresq, chief executive officer of Organic Flower, stated: "We take great pride in the careful selection of our essential ingredients so that we can assure the highest quality is provided to consumers, and our beverages maintain and maximize absorption for maximum enjoyment. The cannabinoid-infused beverages market is forecasted to reach $600-million (U.S.) over the next four years and the acquisition of the exclusive Canadian rights to a suite of disruptive cannabis beverage assets and IP affords OFIG the opportunity to capture significant market share in Canada's nascent-infused beverage industry."

Upon closing of the transaction, Organic Flower will issue 9,166,000 common shares, based upon the five-day VWAP of Organic Flower's common shares for the five trading sessions prior to the announcement of the definitive agreement.

The exclusive licensing agreement will extend for an initial period of 10 years. Organic Flower may also extend the exclusive licensing agreement for an additional successive 10-year term. The company may pay a finder's fee upon closing of the transaction.

About Organic Flower Investments Group Inc.

The company leverages strategic relationships, proprietary investments and exclusive partnerships with pre-eminent international cannabis cultivators and formulators for the development of best-in-class products and brands to be marketed and distributed throughout the company's global footprint.

Via its wholly owned subsidiary, Delta Organic Cannabis Corp. (DOC), Organic Flower is launching one of the largest and most efficient cannabis facilities on the planet. Organic Flower has control or direction over 44,852,040 common shares of Agraflora Organics International Inc., representing 10.12 per cent of the issued and outstanding shares of Agra on a non-diluted basis.

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