Ottawa, ON April 7, 2022 – Molecule Holdings Inc. (CSE: MLCL) (“Molecule” or the “Company”), a Canadian craft-focused cannabis beverage production company, is pleased to announce that it has entered into a sales representation agreement (the “Agreement”) with Humble+Cannabis Solutions Inc. (“Humble”), a premier cannabis sales expert. The Company is proud to have Humble’s national sales force of experienced cannabis professionals represent the Molecule family of brands from coast to coast.
Effective as of April 5, 2022, Humble will act as Molecule’s exclusive third-party sales representative for Molecule products in all provinces and territories of Canada, except for Quebec. The Agreement will be effective for an initial term of one (1) year (the “Initial Term”) and shall automatically continue after the end of the Initial Term unless either the Company or Humble provides written notice of termination at least two (2) months prior to expiration of the Initial Term. In exchange for its services, Humble will receive a commission at an agreed-upon percentage based on the net wholesale revenue from sales of Molecule products from the complete Molecule portfolio.
This partnership signals an exciting new chapter in the Company’s evolution as a leading producer of quality cannabis beverage products. The Company is confident the relationship with Humble will provide Molecule with the necessary sales coverage to become a complete beverage category solution for cannabis retailers nationally.
“We are very excited to welcome Molecule and its suite of cannabis beverage brands to the Humble Cannabis Solutions portfolio. As our first cannabis beverage partnership, we were looking for someone that produced superior craft quality beverages like Molecule. Molecule’s laser focus on taste and consumer preferences will continue to earn them brand recognition as they expand to new provinces. As the cannabis beverage category continues to evolve, our retail partners will appreciate Molecule’s full category solution said Joel Toguri, CEO of Humble.
Commented David Reingold, CEO of Molecule, “The Humble partnership is an important step in driving sales and store penetration nationally. We are confident that their deep-rooted relationships will provide us with access to Canada’s national retail channel. We are supportive of the Humble portfolio of products and see potential opportunities for cross promotions and co-marketing events to drive volume and brand awareness. The Molecule journey continues to evolve. We have created a right-sized efficient facility. We have created high-quality products and brands to appeal to varying consumer tastes. Now our focus turns to driving store penetration and sales of our complete portfolio through this experienced network of sales professionals.”
For further information, please contact:
André Audet, Chairman and Co-Founder Phone: 1 (888) 665-2853 x101
About Molecule Holdings Inc.
Molecule is a licensed producer dedicated to creating cannabis-infused beverages for the Canadian market. We produce leading, top-quality drinks to provide opportunity and choice to people seeking a convenient and social way to consume cannabis. Molecule is focused on growing both our portfolio, and the overall cannabis beverage market. We want to ensure people have the best opportunity to find exactly the product and experience they thirst for.
Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this press release.
This press release contains statements that constitute “forward-looking information” (“forward-looking information”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. Forward-looking statements in this news release include statements regarding the engagement and activities of Humble, the effect of Humble’s engagement on the Company’s business and sales; consumer and retailers’ acceptance of Molecule products; access to a national retail channel; potential future opportunities between the Company and Humble; and the Company’s ability to produce cannabis-infused beverages for the Canadian beverage market to provide opportunities for people to consume cannabis. In disclosing the forward-looking information contained in this press release, the Company has made certain assumptions.
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. 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.