Weed leaf

Innovations in Cannabis

Sproutly is focused on becoming the leading supplier of water-soluble cannabis solutions and bio-natural oils to the emerging beverage and consumables market

Meet Sproutly

Sproutly’s core mission is to become the leading supplier to the cannabis beverage and consumables market. Our Toronto based, ACMPR licensed facility was built to cultivate pharmaceutical grade cannabis to supply a technological breakthrough in producing and formulating the first natural, truly water-soluble cannabis solution. Our water-soluble ingredients and bio-natural oils will deliver revolutionary brands to international markets that are clamouring for well-defined commercial products. Sproutly’s business focus is to execute on partnerships with local and globally established consumer brands to leverage their existing customer bases, further expand brand loyalty, assist with marketing, and support distribution networks to deliver this scientific breakthrough with speed and efficiency worldwide.

Innovation

Our core value is the pursuit and development of unique technologies for the production, processing, and delivery of cannabis.

Expertise

Talent drives growth. Sproutly is focused on attracting the best and brightest minds in the cannabis space while providing them with the tools and resources that will allow them to succeed.

Reliability

Sproutly will deliver products and brands that its customers and consumers can depend on.

Team

Keith Dolo

President & CEO, Director

Keith Dolo most recently served for over 13 years with Robert Half, an S&P 500, NYSE listed company. He previously...

Keith Dolo most recently served for over 13 years with Robert Half, an S&P 500, NYSE listed company. He previously held the role of Vice President for the past 8 years and prior to that held other senior roles in both operations and sales prior to joining Sproutly Inc. Mr. Dolo’s role will be to provide direction, oversight and guidance to all functions of the organization. Keith is well versed in working effectively with boards, clarifying the external and internal competitive landscape, unearthing opportunities for expansion, serving customers, and leveraging new industry developments and standards. Mr. Dolo sits on an advisory committee and a board position for two non-profits in Vancouver, BC. Keith holds a Bachelor of Commerce from the University of Saskatchewan and is an active member in the Vancouver community.

Dr. Arup Sen

Chief Science Officer, Director

Dr. Sen has 35+ years in research and executive management positions at biotechnology and pharmaceutical companies, negotiated and managed licenses...

Dr. Sen has 35+ years in research and executive management positions at biotechnology and pharmaceutical companies, negotiated and managed licenses and joint ventures with J&J, Biomet, GCC and Tokuyama Soda of Japan, Eastman Kodak and Sandoz/Novartis. His work during the past decade led to the invention of proprietary technologies that produce unique water soluble minerals, micronutrients, including phytochemicals. Arup was awarded a Ph.D. in biochemistry from Princeton University and is a former faculty member at the National Cancer Institute (Bethesda, Maryland) and at the Scripps Research Institute (La Jolla, California) focused on cancer research. Dr. Sen is the inventor on five (5) US patents and numerous international patents and pending patent applications in the fields of cancer therapeutics, bone repair biologics and devices and diagnostics.

Craig Loverock

Chief Financial Officer

Craig Loverock is a Chartered Professional Accountant with over 20 years’ experience in accounting and finance roles in Canada, the...

Craig Loverock is a Chartered Professional Accountant with over 20 years’ experience in accounting and finance roles in Canada, the United States, and England. He is presently the CFO of Contagious Gaming Inc. (CNS:TSXV). He brings with him public company reporting and transactional experience, as well as having provided CFO consulting services to a number of private high growth technology businesses, serving as the Senior Financial Advisor to the Chairman at Magna International, and acting as the Chief Compliance Officer and CFO for a private equity firm. Mr. Loverock received his B.Comm (Hons) from Carleton University in 1994 and received his Chartered Accountant’s designation from the Institute of Chartered Accountants, Ontario in 1997. He is currently the treasurer of the Durham Community Foundation.

Karin Studer

Chief Operating Officer

A seasoned executive with proven operational leadership, Karin currently champions Sproutly’s vision, mission and strategic objectives. As a Director in...

A seasoned executive with proven operational leadership, Karin currently champions Sproutly’s vision, mission and strategic objectives. As a Director in one of Canada’s leading financial institutions, she executed the strategies within the retail banking and wealth management segments, achieved market-leading business growth and maximized stakeholder value while building customer relationships and employee engagement. With an extensive regulatory background, Karin oversees the governance and compliance framework as it relates to the ACMPR rules and regulations.

Paul Marcellino

Director of Business Development

Mr. Marcellino holds a degree in Chemistry and has served as CEO of an award-winning nutraceutical company focused on innovative cultivation, extraction and product...

Mr. Marcellino holds a degree in Chemistry and has served as CEO of an award-winning nutraceutical company focused on innovative cultivation, extraction and product development. Mr. Marcellino brings the ability to not only see opportunity, but also provide strategic operations leadership and networking internationally through research, planning, and execution.

Chuck Seguin

Compliance Officer

Chuck has been active in the area of regulatory policy and compliance in all aspects of the cannabis industry since...

Chuck has been active in the area of regulatory policy and compliance in all aspects of the cannabis industry since 2013. Previously, as Western Regional Director of Operations for AmerisourceBergen Canada, he concurrently functioned as their Senior Person in Charge (SPIC) and Responsible Person in Charge (RPIC) for AmerisourceBergen’s distribution of pharmaceuticals and narcotics. He brings with him an extensive experience in the retail pharmaceutical industry with People’s Drug Mart and BIG V Pharmacies.

Frank Han

Head Grower

Frank has over 12 years of experience in the horticulture industry. He previously worked as the Master Grower in a...

Frank has over 12 years of experience in the horticulture industry. He previously worked as the Master Grower in a large commercial facility where he was in charge of all growing methods, techniques and procedures. He brings with him a wealth of knowledge in cloning, nutrient, and overall plant management. Frank will be in charge of the production team at the Toronto Herbal Remedies.

Jan Venter, MD

Medical Officer

A board-certified Family Physician and Functional Medicine Practitioner at False Creek Healthcare Centre – one of Canada’s leading private clinics...

A board-certified Family Physician and Functional Medicine Practitioner at False Creek Healthcare Centre – one of Canada’s leading private clinics – as well as Chief Medical Officer for HealthTech Connex, Surrey, BC. Dr. Venter will help Sproutly spearhead the next level of patient-practitioner relationships within the medical cannabis landscape. As the founder of Fuslum Medical and Brain Vault Health Systems, Dr. Venter believes personalized precision medicine is the future of medicine and that patient-centred care is key.

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Get the inside story with our investor deck

Sproutly, Inc.

#1050 — 1095 W. Pender Street

Vancouver, BC V6E 2M6

778.945.6868

info@sproutly.ca

Sproutly Announces Hiring of New President from Anheuser-Busch Inbev and Kimberley Clark

VANCOUVER, BC, December 6, 2018 – Sproutly Canada, Inc. (CSE: SPR) (OTCQB: SRUTF) (FSE: 38G) (“Sproutly" or the “Company”) is pleased to announce the hiring of Bryan Semkuley to the senior leadership team as President of Sproutly to accelerate the Company’s strategic objectives of becoming a leading cannabis formulations company focused on beverages.

“We are pleased that Mr. Semkuley has chosen to join the leadership team of Sproutly as President,” said Keith Dolo, CEO and Chairman of Sproutly. “Bryan brings significant experience in branding, marketing, sales, and most importantly global product innovation and expertise from recognized multinational consumer packaged goods and beverage companies.  Our ability to continue executing on our business objectives, defining our competitive advantages, and attracting top talent to our management team and board of directors further validates our commitment to becoming a leading cannabis company with a clear focus on the beverage category,” he concluded.

Bryan Semkuley is a seasoned executive with over 30+ years leading global innovation and marketing teams for Fortune 200 companies including Kimberly-Clark (NYSE:KMB), Anheuser-Busch InBev (NYSE:BUD), and Labatt. Mr. Semkuley will focus on the execution of the Company’s strategic objectives, development of its operational plan, and will work diligently to tie in the different vertical divisions of sales, marketing, product innovation, operations, and branding to deliver top-line growth.

Mr. Semkuley has extensive experience and a proven established track record of building new and existing brands and businesses through new product development, channel relationships and commercial innovation.  Prior to joining Sproutly, Mr. Semkuley was Vice President, Global Innovation/Industrial Sector at Kimberly-Clark, a US$19B NYSE-listed American multinational consumer packaged goods company focused on personal care products.  Before joining Kimberly-Clark, Mr. Semkuley spent over 25 years at Anheuser-Busch InBev, a US$130B NYSE-listed beverage company, and Labatt as Vice President Global Innovation, Vice President Global Brand Marketing, and Vice President Marketing, amongst other roles.

“Bryan’s experience leading R&D, marketing and product innovation teams of more than 70 plus key staff, specifically focused on new product development, new global revenue streams, and creating brands that win, will provide value through Sproutly’s continual advancement to become a leader in cannabis beverages and formulations,” said Keith Dolo.

Mr. Semkuley commented, “I look forward to joining the Sproutly team and building the business during a very exciting time for the industry. Building new brands and businesses has been a passion of mine. I look forward to future success of Sproutly, especially with our exciting technologies.”

The appointment is subject to customary approvals of the Canadian Securities Exchange.

 

About Sproutly Canada, Inc.

Sproutly’s core mission is to become the leading supplier to the cannabis beverage and edibles market. Our Toronto based, ACMPR licensed facility was built to cultivate pharmaceutical grade cannabis to supply a technological breakthrough in producing and formulating the first natural, truly water-soluble cannabis solution. Our water-soluble ingredients and our bio-natural oils will deliver revolutionary brands to international markets that are clamouring for well-defined commercial products. Sproutly’s business focus is to execute on partnerships with local and globally established consumer brands to leverage their existing customer bases, further expand brand loyalty, assist with marketing, and support distribution networks to deliver this scientific breakthrough with speed and efficiency worldwide.

Sproutly Announces Hiring of Previous Executive from SC Johnson and Pepsi

VANCOUVER, BC, Dec 4, 2018 – Sproutly Canada, Inc. (CSE: SPR) (OTCQB: SRUTF) (FSE: 38G) (“Sproutly" or the “Company”) is pleased to announce the hiring of Melise Panetta to the senior leadership team as Vice President of Sales and Marketing to focus on the Company’s branding, marketing and sales objectives of becoming a leading cannabis formulations company focused on beverages.

Melise Panetta most recently led the sales strategy as Director of Sales for SC Johnson, a privately held global consumer packaged goods company, responsible for delivering profitable category and brand growth for 200+ customers across multiple classes of trade including Sobeys, Save on Foods, London Drugs, and Federated Co-op among others. Prior to her role as Director of Sales, Melise was Head of Marketing with responsibilities including realigning their investment strategy behind brands, establishing their strategic net revenue framework, and delivering strong market share gains. Previous to SC Johnson, Melise held roles of increasing responsibility at PEPSICO, Inc. (NASDAQ: PEP)for 8 years, and most recently as Senior Marketing Manager, Corporate Initiatives.

Melise holds a Master of Business Administration from York University and a Bachelor of Science in Biology, Honors, from University of Western Ontario.

“We are very excited for Melise to be joining the Sproutly leadership team. She brings a tremendous amount of sales, marketing, and branding experience from established consumer packaged goods and beverage companies to Sproutly,” said Keith Dolo CEO of Sproutly. “Her proven track record, along with her drive to form winning brands will allow Sproutly to successfully deliver on our product brand strategy,” concluded Keith.

 

About Sproutly Canada, Inc.

Sproutly’s core mission is to become the leading supplier to the cannabis beverage and edibles market. Our Toronto based, ACMPR licensed facility was built to cultivate pharmaceutical grade cannabis to supply a technological breakthrough in producing and formulating the first natural, truly water-soluble cannabis solution. Our water-soluble ingredients and our bio-natural oils will deliver revolutionary brands to international markets that are clamouring for well-defined commercial products. Sproutly’s business focus is to execute on partnerships with local and globally established consumer brands to leverage their existing customer bases, further expand brand loyalty, assist with marketing, and support distribution networks to deliver this scientific breakthrough with speed and efficiency worldwide.

Sproutly Adds Former Pernod Ricard Beverage Executive to Advisory Board

VANCOUVER, BC, November 29, 2018 – Sproutly Canada, Inc. (CSE: SPR) (OTCQB: SRUTF) (FSE: 38G) (“Sproutly" or the “Company”) is pleased to announce the appointment of Constantine Constandis to the Advisory Board.

Mr. Constandis is global C-level executive with over 34 years of experience in the wine and spirits industry in Canada, USA, Europe and Asia. Mr. Constandis was a former senior executive with Pernod Ricard SA (RI:EN Paris), the €37B publicly traded producer of wine and spirits who’s global portfolio includes leading brands such as Absolute Vodka, Jameson, The Glenlivet, and Beefeater, among others; most recently serving as President of Pernod Ricard China and Pernod Ricard Asia Travel Retail.  Prior to Pernod Ricard, Mr. Constandis was the CEO of Corby Spirit and Wine Ltd (TSX: CSW.A, CSW.B) the TSX listed alcohol manufacturing and distribution company whose portfolio includes some of the most renowned brands in Canada, including J.P. Wiser’s Canadian whiskies, Lamb’s rum, Polar Ice vodka and McGuinness liqueurs. Mr. Constandis also previously held senior roles at Seagram Company Ltd., including CFO, Europe & Africa. Mr. Constandis holds a Bachelor of Commerce from Concordia University and is a Qualified Chartered Accountant.

“We are very pleased with the addition of Constantine Constandis to Sproutly’s Advisory Board” said Keith Dolo, President and CEO of Sproutly. “Constantine is committed to becoming an active member of the Company’s Advisory Board. His experience in brand building, operations, sales and marketing in the highly-regulated spirits industry will prove to be extremely valuable to Sproutly as it continues to develop into a leading cannabis beverage company” he concluded.

As a result of the board currently being at its maximum capacity, Constantine will be initially appointed to the Advisory Board until the company’s next Annual General Meeting, at which time the board intends to nominate a larger Board of Directors which will include Constantine as an independent Board of Director member.

 

About Sproutly Canada, Inc.

Sproutly’s core mission is to become the leading supplier to the cannabis beverage and edibles market. Our Toronto based, ACMPR licensed facility was built to cultivate pharmaceutical grade cannabis to supply a technological breakthrough in producing and formulating the first natural, truly water-soluble cannabis solution. Our water-soluble ingredients and our bio-natural oils will deliver revolutionary brands to international markets that are clamouring for well-defined commercial products. Sproutly’s business focus is to execute on partnerships with local and globally established consumer brands to leverage their existing customer bases, further expand brand loyalty, assist with marketing, and support distribution networks to deliver this scientific breakthrough with speed and efficiency worldwide.

Sproutly Adds Seasoned Beverage Executive Michael Bellas to the Board of Directors

VANCOUVER, BC, November 28, 2018 – Sproutly Canada, Inc. (CSE: SPR) (OTCQB: SRUTF) (FSE: 38G) (“Sproutly" or the “Company”) is pleased to announce that Michael Bellas, CEO and founder of Beverage Marketing Company (www.beveragemarketing.com) has joined the Company’s board of directors. Mr. Bellas is a seasoned beverage executive who brings over 45 years of experience working with leading beverage companies across all beverage categories.

“Mr. Bellas is among the most respected names in the beverage industry and we are extremely pleased that he has joined our board of directors,” said Keith Dolo, President and CEO of Sproutly.  “His experience in the beverage industry, working with some of the largest global companies and brands in the beverage sector adds tremendous value to Sproutly’s mission,” he added.

“I have been working in the beverage industry for a long time and have always looked for innovative technologies and companies that could disrupt the industry. As part of my due diligence, I have been working with global beverage companies to achieve a better understanding of APP Technology. It is my belief that Infuz20 demonstrates significant competitive advantages as compared with emulsion and encapsulation methods and solves a number of formulation challenges presented by these incumbent technologies” said Mr. Bellas. “The APP technology licensed by Sproutly will make the production of true consumer beverages with natural ingredients from cannabis plants a reality” he concluded.

 

About Michael Bellas:

Michael Bellas is founder, Chairman and CEO of Beverage Marketing Corp. (“BMC”), New York City-based Beverage Marketing Corporation is the leading consulting, research and advisory services firm dedicated to the global beverage industry. BMC’s research/analytics group offers more than 30 market reports on trends in the beverage and allied industries. Mr. Bellas has been a leading spokesman, consultant, writer, editor and speaker in the beverage community for more than 45 years.

Mr. Bellas has provided strategic and long range planning counsel to the majority of the leading beverage companies in each of the key beverage segments. He has led numerous client engagements involving new growth initiatives, market entry planning, brand development/revitalization, domestic and international marketplace assessments and sales/distribution strategy development. Mr. Bellas has also led numerous M&A, company and brand valuation and due diligence engagements. He has extensive international experience having executed numerous assignments in Latin America, Europe and Asia. In addition, Mr. Bellas is founder of the leading industry conference The Beverage Forum, where he continues to be the keynote opening-day speaker.

Mr. Bellas is a graduate of Yale University, he holds the Juris Doctor degree from the University of Michigan and an MBA from Columbia University, where he was a McKinsey Scholar.

In order to accommodate the immediate addition of Mr. Bellas to the Board, an existing board member is required to step down.  Aman Bains has willfully agreed to step down to allow for Mr. Bellas to join. Mr. Bains will continue to remain actively involved in the company leading Sproutly’s international business development plans.

 

About Sproutly Canada, Inc.

Sproutly’s core mission is to become the leading supplier to the cannabis beverage and edibles market. Our Toronto based, ACMPR licensed facility was built to cultivate pharmaceutical grade cannabis to supply a technological breakthrough in producing and formulating the first natural, truly water-soluble cannabis solution. Our water-soluble ingredients (Infuz2O) and our Bio-Natural Oils will deliver revolutionary brands to growing international markets for consumer beverage products. Sproutly’s business focus is to execute on partnerships with local and globally established consumer brands to leverage their existing customer base, further expand brand loyalty, assist with marketing, and support distribution networks to deliver this scientific breakthrough with speed and efficiency worldwide.

Sproutly Canada, Inc. Subsidiary, Toronto Herbal Remedies, Receives License to Sell to Other Licensed Producers and Expands Growth Production Footprint

VANCOUVER, BC, November 20, 2018 – Sproutly Canada, Inc. (CSE: SPR) (OTCQB: SRUTF) (FSE: 38G) (“Sproutly" or the “Company”) is pleased to announce that the license of its wholly-owned subsidiary, Toronto Herbal Remedies Inc. (“THR”) under the Access to Cannabis for Medical Purposes Regulations (“ACMPR”) has been migrated to the Cannabis Act and its regulations. The issuance of the new cannabis license includes the ability to sell cannabis to other licensed producers in accordance with subsection 11(5) of the Cannabis Regulations.

As of November 10, 2018, THR also received license amendments approving all of the remaining 16,600 square feet at the facility for additional grow and operations.  “Sproutly will continue to execute on its operational plan both within Canada as well as other regulated jurisdictions.  This is yet another step towards our facility being fully operational in 2019.  This license provides THR the ability to expedite our operational model as well as provide THR with additional avenues for the sale of our products when ready," said Keith Dolo, President and CEO of Sproutly.

The Health Canada license, issued in accordance with the Cannabis Act and Cannabis Regulations, specifically grants THR the ability to: possess cannabis; obtain dried cannabis, fresh cannabis, cannabis plants or cannabis plant seeds by cultivating, propagating, and harvesting cannabis; and, to sell cannabis in accordance with subsection 11(5) of the Cannabis Regulations.

 

About Sproutly Canada, Inc.

Sproutly’s core mission is to become the leading supplier to the cannabis beverage and edibles market.

Our Toronto based, ACMPR licensed facility was built to cultivate pharmaceutical grade cannabis to supply a technological breakthrough in producing and formulating the first natural, truly water-soluble cannabis solution. Our water-soluble ingredients and our bio-natural oils will deliver revolutionary brands to international markets that are clamouring for well-defined commercial products. Sproutly’s business focus is to execute on partnerships with local and globally established consumer brands to leverage their existing customer bases, further expand brand loyalty, assist with marketing, and support distribution networks to deliver this scientific breakthrough with speed and efficiency worldwide.

For more information on Sproutly, please visit: www.sproutly.ca.

Contact:

Keith Dolo, President and Chief Executive Officer of Sproutly Canada, Inc.

Email:investors@sproutly.ca

 

Forward-Looking Statements

Cautionary Note Regarding Forward-Looking Statements: This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws or forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to future events or future performance and reflect the expectations or believes regarding future events of management of Sproutly Canada. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things, the expected launch of the Company’s first line of beverage products. These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These assumptions, risks and uncertainties include, among other things, the Company successfully completing the development and production of its first line of beverage and cannabis products and obtaining all applicable regulatory approvals from global jurisdictions including Health Canada; satisfying the condition to the license which involves a requirement related to the mandatory cannabis testing for pesticide active ingredients; Cannabis Act and Cannabis Regulations continuing to exist and operate as expected; the continued existence and validity of the license granted to Toronto Herbal Remedies; changes in cannabis research or the general public’s perception of cannabis; and the ability to operate the business as expected.  Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended, such as the Company’s inability to successfully develop and produce its first line of beverage products or the Company’s inability to obtain any necessary regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

Sproutly Signs LOI with the Largest Caribbean Medical Cannabis Producer to Establish a Joint Venture to Sell Cannabis Infused Beverages and Oil Products

VANCOUVER, BC, November 13, 2018 – Sproutly Canada, Inc. (CSE: SPR) (OTCQB: SRUTF) (FSE: 38G) (“Sproutly" or the “Company”) is pleased to announce that it has entered into a letter of intent with Global Canna Labs Limited (“Global Canna Labs”), the Caribbean’s largest medical cannabis producer, to establish a joint venture for the purpose of developing, producing, distributing, marketing and selling cannabis infused beverages, edibles and topical products derived from Sproutly’s fully licensed, APP Technology (the “LOI”).

“Partnering with Global Canna Labs on this joint venture allows Sproutly to expand its business outside of Canada with a leading, low cost cannabis cultivator in Jamaica that has proven distribution across the Caribbean and expanding into the European Union,” said Keith Dolo, President and Chief Executive Officer. “This partnership will enable Sproutly to diversify its product portfolio and accelerate its global distribution network from a low-cost regulated jurisdiction.”

Paul Glavine, Chief Executive Officer of Global Canna Labs said, “We are eager to roll out this partnership with Sproutly on their APP technology. We have explored a number of options regarding extraction and cannabis technology solutions for beverage and derivative products – APP Technology is in our view the superior choice for beverage formulations.  With our current supply and expansion plans to over 1 million square feet of cultivation, we see this partnership with Sproutly as a step towards utilization of our large-scale production towards a finished-product strategy.”

 

Proposed Terms of Joint Venture

The joint venture is expected to be structured as a newly formed, jointly owned company with its own board of directors (the “JV”). Sproutly will have a 50% interest and Global Canna Labs will own the remaining ownership interest.  Global Canna Labs will be responsible for cannabis biomass production and procurement and day-to-day operations of the JV.

Global Canna Labs is also responsible for all costs relating to producing final products for sale, including any equipment needed to produce beverages, edibles or other cannabis derivatives and will leverage its existing production facility and staff for the JV.  These costs will be decided upon by the board along with the determination of the product lines to be produced.

Sproutly will be responsible for providing access to the APP Technology, supplying reagents, and beverage/product formulation capabilities (including its functional beverage formulation portfolio) for products to be formulated from Infuz20 and Bio Natural Oil.  The products are expected to be sold in Jamaica and the rest of the Caribbean with potential expansion into additional European countries that allow for the import of cannabis products from Jamaica. The list of jurisdictions and product lines will be finalized and disclosed in the definitive agreement.

The signing of the definitive agreement and establishment of the joint venture is expected to occur in January 2019.

 

About Global Canna Labs Limited

Global Canna Labs is the Caribbean’s largest medical cannabis producer and the first in Jamaica to be issued a Tier 3 license.  Global Canna Labs has its cultivation facility on 6.23 acres with a legal limit of 200,000 cannabis plants.  Currently it has 31,000 sqf of greenhouses with an additional 27,000 sqf of expansion planned for its greenhouse operations.

Global Canna Labs operates 220,000 sq.ft. of outdoor cultivation with plans to expand to over 1 million sq.ft. in 2019.  Global Canna Labs is strategically located in the city of Montego Bay Jamaica, which is ideal for its proximity to a global logistics hub.  Global Canna Labs is currently constructing a 6,000 sq.ft. packing and drying facility to EU-GMP and U-GACP specifications.

The company also accesses a proprietary distribution partnership via its 25% strategic investment in Zimmer and Company, the only pharmaceutical distribution licensed company focused on CBD/THC distribution in the Caribbean with an existing 61 products approved by the Jamaican Ministry of Health for import and export.  Currently, Zimmer is in 100 retail locations in Jamaica and now Trinidad.

For more information, please visit www.globalcannalabs.com

 

Forward-Looking Statements

Cautionary Note Regarding Forward-Looking Statements: This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws or forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to future events or future performance and reflect the expectations or believes regarding future events of management of Sproutly Canada.  Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things, the expected launch of the Company’s first line of beverage products. These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These assumptions, risks and uncertainties include, among other things, the Company successfully completing the development and production of its first line of beverage and cannabis products and obtaining all applicable regulatory approvals from global jurisdictions including Health Canada. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended, such as the Company’s inability to successfully develop and produce its first line of beverage products or the Company’s inability to obtain any necessary regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

Sproutly Develops Cannabis and Hemp Infused Functional Beverage Portfolio

VANCOUVER, B.C., November 8, 2018 – Sproutly Canada, Inc. (CSE: SPR) (OTCQB: SRUTF) (FRA: 38G) (“Sproutly" or the “Company”) is pleased to announce that it has completed the development and formulation of an initial portfolio of functional beverages with its proprietary naturally water soluble cannabinoids (“Infuz2O”).

The beverages combine recently licensed rights for the proprietary water soluble mineral platform (“MiST Platform”) with Infuz20. The initial portfolio consists of three separate cannabis / hemp infused beverages that provide the following functions: a) Focused Energy; b) Stress relief and Relaxation; and, c) Restful sleep support.

The Company is currently in the midst of medicinal and adult-use brand development, including its functional beverage line. The initial beverages are anticipated to be ready for consumers if and when Health Canada allows consumer beverage products to be legal for sale.

“The focus of the Company has been to develop products that will distinguish our functional beverages from cannabis/ hemp beverages developed by our competitors. Our competitive advantage is to leverage the suite of proprietary water-soluble technologies we have acquired, and create a line of consumer products that taste great and have a functional purpose”, said Keith Dolo, Chief Executive Officer. “Our beverages not only cater to the emerging cannabis market but also to the large, functional beverage market that exists today”, he added.

The functional beverage category is increasingly becoming the popular choice among consumers who are seeking low-calorie, nutrient-dense options as a healthy alternative to traditional beverages. The global functional beverage market is expected to grow at a CAGR of 6.1% to US$93.68 billion by 2019, according to a new study by Grand View Research, Inc.Cannabis in its own right has a long history of being used as a way for users to address wellness and lifestyle needs. Sproutly’s functional beverage formulations address major and growing consumer health and wellness needs for the modern lifestyle.

Sproutly’s strategy is founded on its proven ability to acquire proprietary technologies related to water soluble ingredients. Sproutly is among the first in Canada to address the functional beverage market with cannabis/ hemp ingredients that are recovered from the plants in their naturally water soluble form and, therefore, can be stably combined with other water soluble micronutrients (vitamins, minerals, antioxidants, and other natural plant chemicals). These beverages are fully transparent because all the selected ingredients are truly dissolved in water and, like typical consumer beverages, can be packaged in clear glass bottles and refrigerated if desired for a refreshing taste.

Beverage Formulations & Product

The functional beverage formulations have been developed using two proprietary technologies:
1.    MiST (Minerals in Solution Technology)– 10+ years of research and development into the creation and formulation of water soluble minerals and phytochemicals; and,
2.    Infuz20 – naturally water soluble cannabinoids with onset of less than 5 minutes and offset within 90 minutes.

Sproutly’s functional beverage formulations address a number of lifestyle verticals including: mood & energy, relaxation & sleep as well as stress relief. Its functional beverage formulations utilize MiST and Infuz20 to produce enhanced water, beverages, and nutritional micronutrient supplements that include cannabis or hemp strains strategically selected to provide a synergistic experience for the recreational and medicinal markets.

The Company’s functional beverage products are expected to be its first line of cannabis/ hemp beverage as these have been taken through initial evaluations as consumer beverages by scientists from Infusion Biosciences Inc. and Micronutrient Technologies Inc. These completed evaluations include:

  • blending and ratio proportions of ingredients selected based on independent scientific reports on their benefits;
  • stability testing at room temperature and in refrigerator;
  • formulation with natural flavors; and,
  • process development for large scale manufacturing.

The current functional beverage product portfolio (which is expected to launch under a portfolio of brands to be identified at a later date) consists of:

Focused Energy Drink– Formulated to deliver mood uplifting & focused energy without the use for caffeine or stimulants. Containing a blend of minerals, vitamins, natural plant chemicals, natural flavors, and Infuz2O derived from one or more strains of cannabis to complement the experience.

Relaxation Drink– Formulated to deliver relaxation and stress relief. Containing a blend of minerals, natural plant chemicals, natural flavors, and Infuz2O derived from one or more targeted strains of cannabis to complement the experience.

Sleep and Anxiety Relief Drink– Formulated to reduce anxiety and assist restful sleep. Containing a blend of minerals, plant and other natural chemicals, natural flavors, and Infuz2O derived from a targeted variety of hemp to complement the experience.

Marketing of these beverage products will follow additional testing and will be subject to necessary approvals and licenses to be granted by Health Canada and regulatory authorities in other territories.

 

About Sproutly Canada, Inc.

Sproutly’s core mission is to become the leading supplier to the cannabis beverage and edibles market. Sproutly’s Toronto based, ACMPR licensed facility was built to cultivate pharmaceutical grade cannabis to supply a technological breakthrough in producing and formulating the first natural, truly water-soluble cannabis solution. Sproutly’s water-soluble ingredients and its bio-natural oils will deliver revolutionary brands to international markets that are clamouring for well-defined commercial products. Sproutly’s business focus is to execute on partnerships with local and globally established consumer brands to leverage their existing customer bases, further expand brand loyalty, assist with marketing, and support distribution networks to deliver this scientific breakthrough with speed and efficiency worldwide.

For more information on Sproutly, please visit www.sproutly.ca.

Contact:

Keith Dolo, Chief Executive Officer of Sproutly Canada

Email: investorrelations@sproutly.ca

Forward-Looking Statements

Cautionary Note Regarding Forward-Looking Statements: This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws or forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to future events or future performance and reflect the expectations or believes regarding future events of management of Sproutly Canada.  Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things, the expected launch of the Company’s first line of beverage products. These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These assumptions, risks and uncertainties include, among other things, the Company successfully completing the development and production of its first line of beverage products and obtaining all applicable regulatory approvals including from Health Canada. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended, such as the Company’s inability to successfully develop and produce its first line of beverage products or the Company’s inability to obtain any necessary regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

Sproutly Advances its Health Canada License by Applying for an Amendment to Allow for the Production of Oils

VANCOUVER, B.C., November 1, 2018 – Sproutly Canada, Inc. (CSE: SPR) (FRA: 38G) (OTCQB: SRUTF) (“Sproutly" or the “Company”) is pleased to announce that its wholly-owned subsidiary Toronto Herbal Remedies Inc. (“THR”), a licensed producer under the ACMPR, located in the Greater Toronto Area (the “Cultivation Facility”) has submitted an “addition of activity” in the month of October, to its Health Canada license, in order to produce cannabis oils. Sproutly also updates, that its cannabis plants are in a very healthy state as it progresses through its cultivation phase.

“The submission to expand our license through Health Canada with our application to produce oils is a key milestone in moving our business forward” said Keith Dolo, President and CEO of Sproutly. “This is a clear demonstration of our team’s efforts and ability to meet our strategic targets by year-end. This sets in motion our broader strategy to become a leader in the cannabis consumer product space.”

"We filed the results of our second quarter on Sedar on October 30, 2018.  It was a pivotal quarter for us as we finalized a number of significant developments in the evolution of Sproutly.  In this quarter we completed our public listing on the CSE, obtained our cultivation license from Health Canada, and completed a transformational acquisition of Infusion Biosciences Canada Inc. and SSM Partners Inc.”, stated Keith Dolo, President and Chief Executive Officer of Sproutly.  “With the completion of these milestones and the proceeds of our recent $20 million financing, we are well positioned to execute on our plans to advance the business in order to scale and become the leading supplier to the cannabis beverage and edibles market.

Sproutly Announces Closing of $20.7 Million Special Warrants Bought Deal Financing

VANCOUVER, B.C. , October 24, 2018 – Sproutly Canada, Inc. (CSE: SPR) (FRA: 38G) (OTCQB: SRUTF) (“Sproutly" or the “Company”) is pleased to announce that it has closed its previously announced bought deal offering, including the partial exercise of the underwriters’ over-allotment option in the form of convertible debenture special warrants of the Company (the “CD Special Warrants”).   A total of 10,750 CD Special Warrants at a price per CD Special Warrant of $1,000 and 15,400,000 equity special warrants of the Company (the “Equity Special Warrants”) at a price per Equity Special Warrant of $0.65 were issued for aggregate gross proceeds of approximately $20.7 million (the “Offering”). The Offering was led by Canaccord Genuity Corp., on behalf of a syndicate of underwriters that included Haywood Securities Inc. and Eight Capital (collectively, the “Underwriters”).

As previously announced, each CD Special Warrant and Equity Special Warrant will be automatically exercised, without payment of additional consideration, on the earlier of: (i) the Qualification Deadline (as defined below); and (ii) the third business day after the Prospectus Qualification (as defined below).

The holders of CD Special Warrants will receive, upon such deemed exercise and for no additional consideration, one convertible debenture unit of the Company (the "CD Units") for each CD Special Warrant held. Each CD Unit will be comprised of one senior unsecured convertible debenture of the Company (each, a "Convertible Debenture") and 667 common share purchase warrants (each, a "Warrant").Each Warrant will entitle the holder to purchase one common share of the Company (each, a “Common Share”) at an exercise price of $0.90 per Common Share for a period of 24 months from the date of closing of the Offering.

The holders of Equity Special Warrants will receive, upon such deemed exercise and for no additional consideration, one unit of the Company (the "Equity Units") for each Equity Special Warrant held. Each Equity Unit will be comprised of one Common Share and one-half of one Warrant.

The Convertible Debentures shall bear interest at a rate of 8.0% per annum from the date of issue, payable semi-annually in arrears on June 30 and December 31 of each year. The Convertible Debentures will have a maturity date of 24 months from the closing date of the Offering (the "Maturity Date").

The Convertible Debentures will be convertible at the option of the holder into Common Shares at any time prior to the close of business on the Maturity Date at a conversion price of $0.75 per Common Share (the "Conversion Price").

The Convertible Debentures will be subject to redemption, in whole or in part, by the Company at any time following the date that is 12 months from the date of issuance upon giving holders not less than 30 and not more than 60 days' prior written notice, at a price equal to the then outstanding principal amount of the Convertible Debentures plus all accrued and unpaid interest up to and including the redemption date. Upon a change of control of the Company, holders of the Convertible Debentures will have the right to require the Company to repurchase their Convertible Debentures, in whole or in part, on the date that is 30 days following the change of control, at a price equal to 105% of the principal amount of the Convertible Debentures then outstanding plus accrued and unpaid interest thereon (the "Offer Price"). If 90% or more of the principal amount of the Convertible Debentures outstanding on the date of the notice of the change of control have been tendered for redemption, the Company will have the right to redeem all of the remaining Convertible Debentures at the Offer Price.

The Company has agreed to use its best efforts to obtain a receipt for a final short form prospectus qualifying the distribution of the CD Units and Equity Units upon exercise of the CD Special Warrants and Equity Special Warrants respectively (together, the "Prospectus Qualification") on or before the date that is 60 days following closing of the Offering (the "Qualification Deadline"). If the Prospectus Qualification does not occur before the Qualification Deadline, each holder shall be entitled to receive, without payment of additional consideration, 1.05 CD Units per CD Special Warrant or 1.05 Equity Units per Equity Special Warrant. Until the Prospectus Qualification occurs, securities issued in connection with the Offering will be subject to a 4-month hold period from the date of issue.

The Company intends to use the net proceeds of the Offering to fund expansion and other general corporate purposes.

Novus Merchant Partners Inc. acted as special financial advisor to Sproutly.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Sproutly Canada, Inc.

Sproutly’s core mission is to become the leading supplier to the cannabis beverage and edibles market. Sproutly’s Toronto based, ACMPR licensed facility was built to cultivate pharmaceutical grade cannabis to supply a technological breakthrough in producing and formulating the first natural, truly water-soluble cannabis solution. Sproutly’s water-soluble ingredients and its bio-natural oils will deliver revolutionary brands to international markets that are clamouring for well-defined commercial products. Sproutly’s business focus is to execute on partnerships with local and globally established consumer brands to leverage their existing customer bases, further expand brand loyalty, assist with marketing, and support distribution networks to deliver this scientific breakthrough with speed and efficiency worldwide.

Sproutly Announces OTCQB Listing and Addition to the CSE 25 Index

VANCOUVER, B.C., October 12, 2018 – Sproutly Canada, Inc. (CSE: SPR) (FRA: 38G) (OTCQB: SRUTF) (“Sproutly" or the “Company”) is pleased to announce that its common shares were upgraded and approved for trading on the OTCQB® Venture Market (“OTCQB”) in the United States and that the Company has been added to  the Canadian Securities Exchange’s CSE 25 Index (“CSE 25 Index”).

The symbol for trading of Sproutly’s common shares in the United States on the OTCQB is “SRUTF”.  Sproutly continues to trade on the Canadian Securities Exchange (“CSE”) under the trading symbol “SPR”. The OTCQB in the United States is similar to the CSE in Canada for early stage and developing international companies. To be eligible for the OTCQB, companies must be current in their financial reporting, pass a minimum bid price test and undergo an annual company verification and management certification process.

Sproutly has been added to the CSE 25 Index.The Index includes the top twenty-five securities by market capitalization contained in the CSE’s composite index. These companies account for over 50% of the weighting in the larger index and are typically stocks that attract considerable trading volume.