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Speakeasy Cannabis Club Ltd
Symbol EASY
Shares Issued 86,916,638
Close 2020-03-04 C$ 0.39
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Speakeasy Cannabis completes first harvest

2020-03-04 06:28 ET - News Release

Mr. Marc Geen reports


Speakeasy Cannabis Club Ltd. has successfully completed its first harvest.

First harvest

Speakeasy received its licence in November, 2019, and immediately began preparations necessary to achieve harvest as quickly as possible. A large collection of unique genetic materials was brought on site prior to licensing and, together with its craft-style small-batch techniques, all efforts were made to achieve the best finished product possible. That objective was achieved and the company is thrilled with the result of all its efforts with this first of many harvests. Founder Marc Geen stated: "With the help and advice from our featured growers who each bring years of experience, we achieved our first harvest quickly, efficiently and with excellent results. I am amazed with the quality of this first harvest and so proud to be able to prove we can do what we have been promising our investors we can do."

High-quality matters

A large amount of low-quality product is available in the legal market at the moment and remains unsold. There is high demand and standing orders for high-quality product and Speakeasy has received multiple offers for its first crop from all across the country. Mr. Geen further stated: "We have been working with veteran and patient groups eager to become Speakeasy clients, the quality and consistency just isn't there in the market to satisfy them. Our intent is to bring them the quality they need and have a consistent supply of the strains they desire."

Market opportunity

Speakeasy's plans include achieving its expanded sales licence and working directly with veterans, seniors and advocacy groups that have thousands of patients looking for true high-quality product available consistently and at a reasonable price. In addition, the retail distribution model in Ontario, Canada's largest provincial market, is changing and is expected to allow a more direct sales model between licence holders and the retail stores. Speakeasy believes that it will benefit from this new model due to its B.C. roots, authentic craft-style grow and high-quality product. Mr. Geen stated: "High-quality cannabis will never go out of style and will not become a commodity. Although there is a glut of product on the market at the moment, it's a glut of low-quality, greenhouse-grown material that averages many months old. We have and will always produce the highest-quality product grown in the traditional B.C. craft grow style that has achieved a reputation for world-class cannabis."

About Speakeasy Cannabis Club Ltd.

Speakeasy Cannabis Club holds a cultivation, processing and sales licence, issued by Health Canada under the Cannabis Act. Speakeasy owns 290 acres of land in Rock Creek, B.C., and leverages three generations of farming experience in British Columbia, as well as its favourable location to grow and process high-quality cannabis products at low cost. Speakeasy cultivates small-batch, high-quality craft cannabis in its 10,000-square-foot indoor facility and has recently completed the development of its 60-acre outdoor field. The company's intention, upon receipt of an amendment to its current licence to include the outdoor cultivation area, is to produce approximately 70,000 kilograms of outdoor, sun-grown cannabis in 2020.

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