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Molecule Inc., September 24 2020

PRESS RELEASE: Molecule Receives Final Piece of Equipment for Producing Craft Cannabis Beverages and Provides a Corporate Update

OTTAWA, ON, Sept. 24, 2020 /CNW/ - Molecule Holdings Inc. (CSE: MLCL)  ("Molecule" or the "Company"), a craft-focused Health Canada licensed Canadian cannabis beverage production company, is happy to provide an operational and corporate update.

Facility Update

On September 22, 2020, Molecule's custom-built flash pasteurizer arrived in Canada from Ireland. Fit up and installation will begin immediately, enabling Molecule to achieve its goal of bringing craft cannabis beverages to Canadian consumers. Molecule received its cannabis processing licence on February 28th, 2020, covering 200,000 sq. ft. of total space.

"This flash pasteurizer is the last piece of equipment we need to begin beverage production and we are excited to begin ramping up to an eventual capacity of 20 million cans per year." said Phil Waddington, President and CEO of Molecule.

Client Partnership News

In addition to the completion of our state of the art, high-capacity facility, the team is currently in the final stages of negotiations for the first group of client-partners. Product launches are expected once beverage trials are completed.

Product Development

Molecule has formulated over 80 beverages in the past year and a half.

The anticipated launch of Molecule's line of collaboratively-produced craft beverages remains on track for Q4, 2020.

As news about progress evolves regarding client relationships, product development, and provincial wholesale relationships, Molecule will continue to provide timely updates on an ongoing basis.

ON BEHALF OF THE BOARD

MOLECULE HOLDINGS INC.

Per: "Philip Waddington"

President, CEO and Director

About Molecule Holdings Inc.

Molecule works with client-partners to engage in the production of cannabis-infused beverages and edibles. We provide the infrastructure, know-how, technology, and licensing for craft producers to create consumable cannabis products. Molecule's goal is to be the on-ramp for companies wishing to enter into the cannabis beverage and edibles market, but who choose not to go through the significant process of obtaining the required cannabis licences.

Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this press release.

Forward-Looking Statements

Certain statements contained in this news release may constitute forward-looking information. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. The Company's actual results could differ materially from those anticipated in this forward-looking information as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, and other factors, many of which are beyond the control of the Company.  In this news release, the Company is making forward-looking statements with respect to the completion of its facility, the commencement of production and anticipated timeline for launch of its beverage/product line and the entering into relationships with clients/customers. The Company believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Any forward-looking information contained in this news release represents the Company's expectations as of the date hereof and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.

SOURCE Molecule Holdings Inc.

For further information: André Audet, Chairman and Co-Founder, Phone: 1 (888) 665-2853 x101, Email: andre@molecule.ca, www.molecule.ca

Related Links

https://www.newswire.ca/news-releases/molecule-receives-final-piece-of-equipment-for-producing-craft-cannabis-beverages-and-provides-a-corporate-update-807692874.html

Written by

Molecule Inc.

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