20:46:47 EST Sun 28 Feb 2021
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Speakeasy Cannabis Club Ltd
Symbol EASY
Shares Issued 100,554,138
Close 2020-03-31 C$ 0.40
Recent Sedar Documents

Speakeasy signs processing LOI with Christina Lake

2020-04-01 06:46 ET - News Release

Mr. Bin Huang reports

SPEAKEASY SIGNS LOI WITH CHRISTINA LAKE CANNABIS ON A JOINT VENTURE AND ANNOUNCES ISSUANCE OF SHARES

Speakeasy Cannabis Club Ltd. has signed a non-binding letter of intent (LOI) with Christina Lake Cannabis Corp.

The LOI contemplates that CLC will contract Speakeasy to process and sell cannabis biomass and cannabis flower produced at its CLC production facility and Speakeasy intends to provide, upon receipt of the appropriate licences, processing of biomass and flower, sales and distribution of the flowers, and work jointly with CLC to develop and produce white-label, value-added products made from CLC input material.

Contract processing for CLC will make use of Speakeasy's process facility to become an additional revenue stream. The additional material is expected to aid in Speakeasy's ability to keep up to expected domestic and international markets.

Climatic region, genetics and growing techniques of CLC, being similar to Speakeasy's methods, allows for easy co-operation and sharing of supplies, equipment and technology between the two companies. Growers on both farms have vast experience, therefore it is expected that the finished product will be comparable and will market well together. Founder Marc Geen stated, "I'm thrilled to be working with the team from Christina Lake Cannabis; we've known each other for years and I couldn't be happier to have our two families co-operating together."

Speakeasy anticipates that it will have a strong effect on the market with the cost of its flower produced outdoors being comparatively lower than the industry average. Having additional supply of extremely competitively priced material will allow the company to enter more supply agreements with provinces across Canada.

Speakeasy is working with and supporting local growers and producers both large and small here in British Columbia with a goal of promoting B.C. bud as a globally recognized brand. Mr. Geen stated: "Working with other like-minded growers towards a common goal is extremely exciting; it happens in all other forms of farming for very good reason. We have so many advantages growing in B.C., working with fellow farmers can compound those advantages."

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 B.C. as well as its favourable location to grow and process high-quality cannabis products at low cost.

We seek Safe Harbor.

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