Ottawa, ON – TheNewswire – February 17, 2022 – Molecule Holdings Inc. (CSE:MLCL) (OTC:EVRRF) (“Molecule” or the “Company”), a Canadian craft-focused cannabis beverage production company, is pleased to announce that the British Columbia Liquor Distribution Branch has now placed its third order for the Company’s product: CANAJO Espresso Spice. The rapid sell through of the Company’s initial shipments to BC is a positive indicator of Molecule’s opportunity for growth in the west coast market.
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Data collected from the first full month of sales since CANAJO launched in British Columbia retailers in mid-January indicates nearly 7000 units have been sold. This is considerably higher than the Company’s internal forecast. As consumers become more comfortable with cannabis beverages in general, and more specifically the nitro-infused innovation of the CANAJO line, the Company expects monthly sell-through rates to increase. Continued implementation of marketing strategies and in store activations are expected to help boost consumer awareness of our products.
In Store Activations
The sales team at Molecule is now also offering in-store activations across British Columbia and Ontario. These “pop-ups”, held at cannabis retailers that carry Molecule brands, educate consumers on cannabis beverages and highlight product attributes. Feedback has been positive from consumers and retailers alike, and the Company has seen an increase in sales volume following each event. Consumers can keep track of pop-up locations via the Canajo brand’s Instagram account at @canajobuddies.
Commented David Reingold, CEO Molecule, “We are quite pleased to see sales in British Columbia exceed our initial expectations for CANAJO. We look forward to seeing the impact of our marketing efforts and in-store activations on increased volumes for CANAJO and our other brands.”
For further information, please contact:
André Audet, Chairman and Co-Founder Phone: 1 (888) 665-2853 x101
Email: [email protected] www.molecule.ca
About Molecule Holdings Inc.
Molecule is a licensed producer dedicated to creating cannabis-infused beverages for the Canadian market. We produce leading, top-quality drinks to provide opportunity and choice to people seeking a convenient and social way to consume cannabis. Molecule is focused on growing both our portfolio, and the overall cannabis beverage market. We want to ensure people have the best opportunity to find exactly the product and experience they thirst for.
Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this press release.
Forward-Looking Statements
This press release contains statements that constitute “forward-looking information” (“forward-looking information”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. Forward-looking statements in this news release include statements relating to the anticipated sales growth of CANAJO in British Columbia; consumer response to cannabis beverages; the impact of marketing strategies and in-store activations on the Company’s sales and consumer awareness; and the Company’s ability to produce cannabis-infused beverages for the Canadian beverage market to provide opportunities for people to consume cannabis. In disclosing the forward-looking information contained in this press release, the Company has made certain assumptions.
The Company’s actual results could differ materially from those anticipated in this forward-looking information as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, and other factors, many of which are beyond the control of the Company. The Company believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Any forward-looking information contained in this news release represents the Company’s expectations as of the date hereof and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
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