TORONTO, June 13, 2019 /CNW/ - Pure Global Cannabis Inc.
(TSX.V: PURE; OTC: PRCNF; FRA: 1QS) ("Pure Global"), an
integrated growth-oriented sciences and consumer products cannabis
company, operating through its wholly-owned subsidiary PureSinse
Inc. ("PureSinse" or "Company"), is pleased to
announce they closed on the acquisition of The Great Canadian Hemp
Company, Ltd. ("GCHC") along with the completion of a
supportive and strategic distribution agreement with Eurocan
Trading – PFoods SA Joint Venture Group ("Eurocan").
Eurocan is a brokerage and sales agency that has established
relationships with major retailers in the
United States, Europe, and
Asia.
The acquisition of GCHC will allow Pure Global to benefit from a
holistic brand with a dedicated and loyal audience. It also allows
Pure Global to leverage their internal capabilities to manufacture
and sell organic, vegan, hemp-based, all-natural skin and hair
products. With the help of Eurocan, Pure Global will now enter into
the global high-growth health and wellness Consumer Packaged Goods
("CPG") market with sights set on servicing the massive demand for
hemp oil and CBD products.
"GCHC's extensive line of unregulated CPG health and wellness
products is the perfect compliment to our cannabis strategy," said
Pure Global's President & CEO, Malay Panchal. "While medicinal
cannabis remains a priority for us, the acquisition of a true
wellness brand will gain us access to a global marketplace. We are
very pleased to welcome the founders of GCHC, Edan Wolk and Melissa L'Heureux-Hache to the
Pure Global family. Both bring a strong passion for promoting
wellness and sustainability through their plant-based botanical
line of products."
To support this cornerstone acquisition, Pure Global is excited
to announce an exclusive distribution agreement with Eurocan that
covers several international markets. This distribution deal will
give GCHC category exclusivity with Eurocan for its hemp oil and
CBD infused health, beauty, food and beverage product lines, giving
Pure Global a major advantage in the ever-expanding hemp and CBD
markets in the United States,
Europe, and Asia. The initial target markets will be
Germany, Romania, United
Kingdom, Japan, and
South Korea, where there is a very
high demand for Canadian CBD and hemp oil infused products. Eurocan
currently represents over 70 brands, distributing products to the
Canadian, European, American, and Asian markets with access to
chains such as; Tesco, Carrefour, Whole Foods, Rewe, Auchan, Aldo,
Metro, Costco Wholesale, PetSmart, Marks & Spenser, 7-Eleven,
Walmart, among many others.
"It is certainly an exciting time for Pure Global as we now see
our CBD and hemp oil strategy moving forward in a big way with
extensive international distribution", commented Pure Global's
President & CEO, Malay Panchal. "With the recent Farm Bill and
changing regulatory landscape for CBD products globally, high
quality hemp oil and CBD infused products represent a huge global
opportunity for Canadian exports, in which we will continue to
develop our business," further added Mr. Panchal.
With the acquisition of GCHC, Pure Global remunerated GCHC
shareholders with $560,000 with
$60,000 payable in cash and
$500,000 payable through the issuance
of common shares in the capital of Pure Global at a price equal to
$0.20 per share to be held in escrow
and released pursuant to a 24-month schedule, as referred to in a
news release issued by the Company on April
18, 2019.
About Pure Global Cannabis
Pure Global Cannabis Inc. is an innovation-based cannabis
company led by experienced pharma, biotechnology, horticultural,
and consumer packaged goods (CPG) experts. The Company's wholly
owned subsidiary, PureSinse Inc., is a licensed producer under the
Cannabis Act. The Company's Brampton campus houses facilities for
vertically farmed cultivation, R&D, extraction, manufacturing,
and distribution. Pure Global will produce branded and
white-labeled cannabis products for the medical, pharmaceutical,
wellness, health & beauty, natural health, food & beverage,
craft, and recreational legal markets with uniquely formulated and
purified concentrates and dried flower. The Company is using the
Canadian market as a springboard to develop and manufacture
GMP-compliant premium quality cannabis products for international
sale and distribution with a goal to become one of the most trusted
premium international cannabis brands.
About the Great Canadian Hemp Company
Great Canadian Hemp Company is an Ottawa-based company devoted to promoting
wellness and sustainability through natural care. The Company
creates products that are gentle, effective and easy to use,
without the use of chemicals, synthetics or unnecessary fillers.
The Company's ingredient lists are clear and simple, containing
only pure, plant-based botanicals. Everything we make is 100% Vegan
and Cruelty-Free. For more product information, please visit the
Company's website at www.greatcanadianhemp.com.
About Eurocan Trading – PFoods SA Joint Venture Group
Eurocan Trading – Preferra Foods SA Joint Venture Group
represents manufacturers from all over the World in the Canadian,
European and USA markets. The
Company offers brand management services for Canadian &
USA manufacturers to Europe, Japan
& South Korea, and for
European manufacturers to Canada
& USA, Japan/South Korea– connecting manufacturers
with major retailers & club store chains, private label, major
importers, gas & convenience and food service. For more
information, please visit the Company's website at
www.eurocantrading.com.
FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements,
including, but not limited to, statements about Pure Global's
future plans and intentions. Wherever possible, words such as
"may", "will", "should", "could", "expect", "plan", "intend",
"anticipate", "believe", "estimate", "predict" or "potential" or
the negative or other variations of these words, or similar words
or phrases, have been used to identify these forward-looking
statements. These statements reflect management's current beliefs
and are based on information currently available to management as
at the date hereof.
Forward-looking statements involve significant risk,
uncertainties and assumptions. Many factors could cause actual
results, performance or achievements to differ materially from the
results discussed or implied in the forward-looking statements.
These factors should be considered carefully, and readers should
not place undue reliance on the forward-looking statements.
Although the forward-looking statements contained in this news
release are based upon what management believes to be reasonable
assumptions, Pure Global cannot assure readers that actual results
will be consistent with these forward-looking statements. These
forward-looking statements are made as of the date of this news
release, and Pure Global assumes no obligation to update or revise
them to reflect new events or circumstances, except as required by
law.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this
release.
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www.pureglobal.com. Follow @pureglobalcanna on Twitter and Facebook
and @pureglobalcannabis on Instagram.
SOURCE Pure Global Cannabis Inc.