AYURCANN HOLDINGS CORP. PROVIDES CORPORATE UPDATE, AND GROWTH STRATEGY
August 10 2023 - 8:25AM
Ayurcann Holdings Corp. (
CSE:
AYUR,
OTCQB: AYURF,
FSE:
3ZQ0) (“
Ayurcann” or the
“
Company”), a leading Canadian cannabis company
specializing in the processing and manufacturing of cannabis 2.0
and 3.0 products in the recreational market, is pleased to provide
a corporate update to its operations.
OPERATIONAL
HIGHLIGHTS:
-
Successfully grew product offerings to 60 stock keeping units
(“SKUs”) across the country and became a top
seller of products, including1:
- Canadian
retail penetration of over 70%, with Ontario at over 75%2
-
Consistently offering new SKUs across the country, reflecting the
innovation, reliability, and value that Ayurcann has brought to the
recreational cannabis market in Canada, with over 20 new SKUs being
launching over the next three to six months.
- Top
Company brands: Fuego, XPLOR and H&S, are consistent performers
across the country with increased market share.
- Focused
on top selling categories, using, and improving existing
efficiencies to enhance production and market share while
addressing SKU rationalization and price compression.
- In the 1g
Vape Category:
- Ayurcann Holdings
Corp. (AYUR-L, NR) vape market share is starting to pick up steam,
increasing to 7.3% in July 2023 (from 2.1% in July 2022) **
- ACROSS CANADA
#4
- ONTARIO #4,
ALBERTA #6, MANITOBA #2, SASKATCHEWAN #3
- In the
1x0.5G Pre-Roll Category:
- ACROSS CANADA
#2
- ONTARIO #1,
ALBERTA #3, MANITOBA #3, SASKATCHEWAN #3
- In the
2x1G Pre-Roll Category:
- ACROSS CANADA
#2
- ONTARIO #1,
ALBERTA #2, MANITOBA #2, SASKATCHEWAN #1
“As we continue to expand into more markets
across the country with our offerings and store penetration, we are
thrilled to report consistent growth despite the price compression
and closures that continues to impact the cannabis industry.
Ayurcann is proud to be debt free and have the ability to sustain
its growth trajectory in the industry. With the growth of our
in-house brands, Fuego, H&S, XPLOR our products are being
embraced by cannabis consumers. Ayurcann plan is to continue and
grow through a focused plan based on strategic relationships,
partnerships, and innovation, we are very optimistic about our
future, and the potential of becoming an industry leader. We have
been successfully selling throughout various Provinces within
Canada, including Ontario, British Columbia, Alberta, Yukon, New
Brunswick, Manitoba, and Saskatchewan, and believe that continued
interest from consumers and retailers will help elevate Ayurcann
within the industry”, said Igal Sudman, Chief Executive Officer of
Ayurcann.
“With our laser focus on growth, market share
and innovation while staying debt free, we are confident that we
can continue to bring new offerings to market and grow further”,
added Mr. Sudman.
For further information, please contact:
Igal Sudman, Chairman and Chief Executive OfficerAyurcann
Holdings Corp.Tel: 905-492-3322.Email: info@ayurcann.com
Investor Relations:
Email: ir@ayurcann.com
About Ayurcann:
Ayurcann is a leading post-harvest cannabis
product manufacturer with a focus on providing and creating new
innovations in the adult use cannabis industry in Canada. Ayurcann
is striving to become a top supplier of Canadian cannabis
brands.
For more information about Ayurcann, please
visit www.ayurcann.com and its profile page on SEDAR at
www.sedar.com.
Neither the Canadian Securities Exchange nor its
Regulation Services Provider have reviewed or accept responsibility
for the adequacy or accuracy of this release.
Cautionary Note Regarding
Forward-Looking Statements
This press release contains “forward-looking
statements” within the meaning of applicable securities laws. All
statements contained herein that are not clearly historical in
nature may constitute forward-looking statements. Generally, such
forward-looking information or forward-looking statements can be
identified by the use of forward-looking terminology such as
“plans”, “strategy”, “expects” or “does not expect”, “intends”,
“continues”, “anticipates” or “does not anticipate”, or “believes”,
or variations of such words and phrases or may contain statements
that certain actions, events or results “will be taken”, “will
launch” or “will be launching”, “will include”, “will allow”, “will
be made” “will continue”, “will occur” or “will be achieved”. The
forward-looking information and forward-looking statements
contained herein include, but are not limited to, statements
regarding: the growth trajectory of the Company’s revenue and
in-house brands having a positive impact on the Company’s future
development; the Company launching new SKUs upon the timelines
disclosed herein; the Company bringing offerings to market, gaining
market share and sales across the country, allowing the Company to
grow its revenue; and the ability of the Company to elevate within
the industry and become an industry leader.
Forward-looking information in this news release
are based on certain assumptions and expected future events,
namely: the Company will expand and be able to maintain production
capacity; continued approval of the Company’s activities by the
relevant governmental and regulatory authorities; the continued
growth of the Company, including its in-house brands and top-line
revenue; the Company’s successful implementation of its strategy to
expand market share and sales in the cannabis industry; the
Company’s continuing ability to meet the requirements necessary to
remain listed on the Canadian Securities Exchange and alternative
exchanges; the Company selling its products in compliance with
applicable laws and regulations; the Company successfully launching
and distributing the new SKUs; the Company growing its exposure,
consumer and retail partnerships and securing additional product
listings and market share throughout the country; the Company
maintaining a continuous path of growth; the Company’s in-house
brands and revenue having a positive impact on the Company’s future
development; the Company maintaining and creating new relationships
with retail distributors; and the Company elevating within the
industry and becoming an industry leader.
These statements involve known and unknown
risks, uncertainties and other factors, which may cause actual
results, performance or achievements to differ materially from
those expressed or implied by such statements, including but not
limited to: the Company’s inability to expand and/or maintain
production capacity; the potential inability of the Company to
continue as a going concern; the risks associated with the cannabis
industry in general; increased competition in the cannabis
extraction market; the potential future unviability of the cannabis
market; risks associated with potential governmental and/or
regulatory action with respect to the cannabis industry; the
Company’s inability to obtain continued regulatory approvals; the
Company’s inability to meet the requirements necessary to remain
listed on the Canadian Securities Exchange and alternative
exchanges; the Company’s inability to sell its cannabis flower
products pursuant to applicable laws and regulations; the Company’s
inability to grow and/or increase sales and/or revenue and/or its
in-house brands; the Company’s inability to secure funds for the
integration, development and distribution of new and existing SKUs;
the Company’s inability to secure additional product listings for
its new SKUs and grow its market share across the country; the
Company’s inability to secure additional partnerships; the
Company’s inability to innovate, increase workflows and/or create
efficiencies; and the Company’s inability to elevate within the
industry and/or become an industry leader.
Readers are cautioned that the foregoing list is
not exhaustive. Readers are further cautioned not to place undue
reliance on forward-looking statements, as there can be no
assurance that the plans, intentions, or expectations upon which
they are placed will occur. Such information, although considered
reasonable by management at the time of preparation, may prove to
be incorrect and actual results may differ materially from those
anticipated.
Forward-looking statements contained in this
news release are expressly qualified by this cautionary statement
and reflect the Company’s expectations as of the date hereof and
are subject to change thereafter. The Company undertakes no
obligation to update or revise any forward-looking statements,
whether as a result of new information, estimates or opinions,
future events, or results or otherwise or to explain any material
difference between subsequent actual events and such
forward-looking information, except as required by applicable
law.
1 Based on reporting by Hyfyre IQ™ as of Aug 10, 2023. **ATB
Capital Markets report.2 Based on reporting by Trellis as of Aug
10, 2023.
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