Experion Increases Cultivation and Processing Capacity
VANCOUVER, BC / ACCESSWIRE / March 30, 2020 / Experion Holdings Ltd. (the “Company” or “Experion“) (TSXV:EXP)(OTCQB:EXPFF)(FRANKFURT:MB31) is pleased to announce its wholly owned subsidiary, Experion Biotechnologies Inc., a licensed cannabis company under the Cannabis Act, has received approval from Health Canada amending its license to expand cultivation and processing capacity at its Mission, BC facility.
The Health Canada approved amendment immediately increases the Company’s cultivation by 20%. This newly licensed space will begin actively growing premium-quality flower by mid-April. Experion’s top shelf cannabis is distributed under its brand, Citizen Stash, which is actively sold in five provinces and two territories across Canada and has experienced strong consumer demand.
Several licensed processing rooms were also approved by the Health Canada amendment now doubling the Company’s processing capabilities including post-harvest activities, packaging and labeling, as well as, improving operational efficiencies by enabling a number of these production activities to run in parallel. The increased processing space further enhances Experion’s ability to develop and manufacture value-added products such as pre-rolls; ultimately, facilitating the diversification and expansion of its product offerings. The increased capacity also positions the Company to undertake strategic partner relationships and contract manufacturing opportunities including the production of cannabis concentrates like shatter, rosin and kief.
“The approval of this license amendment is a very exciting milestone for Experion,” commented Mr. Jarrett Malnarick, CEO of Experion Holdings. “We now have the required space to further our business plan and continue to drive the Company to profitability. As demand for our Citizen Stash branded products continues to grow, coupled with our business model to process and distribute quality cannabis products across Canada, it became clear that additional cultivation and processing space was needed to effectively capitalize on this market opportunity. Now with our strategic grow and supply partners coming online and our newly licensed space, we have the capacity to process hundreds of kilograms of flower per month, launch pre-rolls quickly and offer other value-added products. With cannabis recently identified as an “essential service” in a number of provinces, we remain confident in the future of our Company in these unprecedented times.”
About Experion Holdings Ltd.
Experion Holdings Ltd. is the parent company of Experion Biotechnologies Inc., a Health Canada licensed cultivator and processor of Cannabis, based in Mission, BC.
Experion Holdings Ltd. is invested in a portfolio of products to address a wide spectrum of consumer needs’ including Adult-use, Wellness and Therapeutic, and Medical products.
Experion trades on the TSX Venture Exchange as a Tier 1 issuer under the symbol “EXP” on the OTCQB Venture under the symbol “EXPFF” and on the Frankfurt Stock Exchange under the symbol “MB31”
This press release contains forward-looking information within the meaning of Canadian securities laws. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct.
Forward looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, forecast, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking information as a result of various factors, including, but not limited to: the state of the financial markets for the Company’s equity securities; recent market volatility; the Company’s ability to raise the necessary capital or to be fully able to implement its business strategies; the risks identified in the Filing Statement, and other risks and factors that the Company is unaware of at this time. The reader is referred to the Filing Statement dated September 25, 2017 and/or the most recent annual and interim Management’s Discussion and Analysis for a more complete discussion of such risk factors and their potential effects, copies of which may be accessed through the Company page on SEDAR at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies ofthe TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Experion Holdings Ltd.