MORRISVILLE, N.C., April 8, 2020 /PRNewswire/ -- Pyxus
International, Inc. (NYSE: PYX), a global value-added agricultural
company, is pleased to announce its wholly owned indirect
subsidiary Figr Brands, Inc. has introduced its legal recreational
cannabis products into British
Columbia, marking Figr's first western provincial entry in
its planned expansion across Canada. Figr's cannabis products, including
the brand's two newest strains, are now available for purchase
through BC Cannabis.
"Figr's entrance into British
Columbia is an exciting step for Figr, as the company
continues to expand across Canada," said Pyxus President and CEO
Pieter Sikkel. "We are proud of
Figr's dedication and commitment to providing Canadians new and
continued access to high-quality, fully traceable cannabis
products, particularly as Canada
navigates the unprecedented challenges of the COVID-19 crisis.
Cannabis is considered an essential business in British Columbia, and Figr is committed to
meeting the demand of consumers while protecting the health and
wellbeing of its employees."
Within the last nine months Figr has expanded into three new
markets across Canada, as well as
introduced its initial suite of Figr 2.0 products. Figr's products
are now available in five Canadian provinces through retail
locations and online stores, including Prince Edward Island, Nova Scotia, New
Brunswick, Ontario and
British Columbia.
All of Figr's cannabis products are tracked from seed-to-sale by
SENTRI℠, Pyxus' proprietary track-and-trace platform. Data
collected in the platform documents a product's supply chain
journey, and can be shared with the consumer in order to promote
transparency and quality.
About Pyxus International, Inc.
Pyxus International,
Inc. (NYSE:PYX) is a global agricultural company with more than 145
years' experience delivering value-added products and services to
businesses and customers. Driven by a united purpose—to transform
people's lives, so that together we can grow a better world—Pyxus
International, its subsidiaries and affiliates, are trusted
providers of responsibly sourced, independently verified,
sustainable and traceable products and ingredients. For more
information, visit www.pyxus.com.
About Figr Brands, Inc.
Figr is a vertically
integrated legal cannabis company headquartered in Toronto, Ontario, that operates under
one sole purpose: to put character
into everything it does. Figr cannabis is sourced from the
company's two licensed subsidiaries located in Charlottetown, Prince Edward Island, and
Simcoe, Ontario. Figr is a wholly
owned indirect subsidiary of Pyxus International, Inc. (NYSE: PYX).
For more information, visit www.figr.com.
About SENTRI℠
SENTRI is a traceability platform
that combines technology, people and processes to provide insight
into a product's source-to-market journey. SENTRI is a proprietary
tool designed and maintained by Pyxus International, Inc. (NYSE:
PYX), a global agricultural company with more than 145 years of
experience delivering value-added products and services to
businesses and customers.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains "forward-looking
statements" as defined in the Private Securities Litigation Reform
Act of 1995. These statements are based on current expectations of
future events. Such statements include, but are not limited to,
statements about future financial and operating results, plans,
objectives, expectations and intentions and other statements that
are not historical facts. Such statements are based on the current
beliefs and expectations of management and are subject to
significant risks and uncertainties. If underlying assumptions
prove inaccurate or known or unknown risks or uncertainties
materialize, actual results may differ materially from those
currently anticipated expected or projected. The following factors,
among others, could cause actual results to differ from those
expressed or implied by the forward-looking statements: changes in
the timing of anticipated shipments, changes in anticipated
geographic product sourcing, developments in relevant capital
markets affecting the terms and availability of financing,
political instability, currency and interest rate fluctuations,
shifts in the global supply and demand position for tobacco
products, changes in tax laws and regulations or the interpretation
of tax laws and regulations, resolution of tax matters, adverse
weather conditions, the impact of disasters or other unusual events
affecting international commerce, including impacts from the strain
of coronavirus reported to have recently surfaced in Wuhan, China, changes in costs incurred in
supplying products and related services, uncertainties with respect
to the impact of regulation associated with consumer products
business lines, including the risk of obtaining anticipated
regulatory approvals in Canada and
for e-liquids products in the United
States, uncertainties regarding the regulation of the
production and distribution of legal cannabis and industrial hemp
products and continued compliance with applicable regulatory
requirements, uncertainties with respect to the development of the
industries and markets of the consumer products business lines,
consumer acceptance of products offered by the consumer products
business lines, uncertainties with respect to the timing and extent
of retail and product-line expansion, the impact of increasing
competition in the consumer products business lines, uncertainties
regarding obtaining financing to fund planned facilities
expansions, the possibility of delays in the completion of
facilities expansions and uncertainties regarding the potential
production yields of new or expanded facilities, as well as the
progress of legalization of cannabis for medicinal and adult
recreational uses in other jurisdictions. Additional factors with
respect to risks and uncertainties with respect to an investment in
the common stock of Pyxus International, Inc. can be found in its
Annual Report on Form 10-K for the period ended March 31, 2019 and its other filings with the
Securities and Exchange Commission (the "SEC") which are available
at the SEC's Internet site (http://www.sec.gov). Pyxus does not
undertake to update any forward-looking statements made in this
press release to reflect any change in management's expectations or
any change in the assumptions or circumstances on which such
statements are based.
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SOURCE Pyxus International, Inc.