OTTAWA, ON, Dec. 3, 2020 /CNW/ - Molecule Holdings Inc. (CSE: MLCL) ("Molecule" or the "Company"), a Canadian craft-focused cannabis beverage production company, has the pleasure of announcing that it has received authorization from l'Autorité des Marchés Publics (AMP) which enables the company to potentially obtain contracts with public entities in Québec. The company is also pleased to announce that it has signed a letter of intent with la Société Québécoise du Cannabis ("SQDC"), the public entity which governs all sales and distribution of cannabis in the province.
Having received the authorization from the AMP in November, Molecule will be capable of commercializing its products in Québec, pending receipt of its sales license amendment from Health Canada. This authorization is valid for a duration of three (3) years and can be extended at the end of this term.
"The AMP authorization is a huge milestone for Molecule," said Molecule's CEO, Phil Waddington. "This approval gives us the ability to strengthen our relationship with the SQDC and offer this broader market access to some of our valued clients."
Letter of Intent with SQDC
Molecule is also pleased to announce the signing of a letter of intent with the Société québécoise du cannabis, which was concluded in conjunction with Biolux Natural Health Inc. for the production and province-wide sales of UbU Blackberry & Juniper Berry sparkling CBD beverage as well as Citrus & Ginger sparkling CBD beverage.
"As a Québec-based cannabis beverage company, we are very proud to have our home province as one of the first markets to launch the UbU beverage line. We strongly believe our low calorie, clean-label formulation and our unique flavours will appeal to Québec consumers," said Biolux President, Carlos Ponce.
Philip Waddington, President & CEO of Molecule Inc., stated "This letter of intention with the SQDC is an important component of our volume projections and forward planning for 2021. This is another step forward in our mission to deliver craft-quality beverages to discerning consumers."
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.
About Biolux Natural Health Inc.Biolux Natural Health Inc., a Montreal-based company founded in 2017, is the producer of UbUⓇ, a craft-forward line of unique CBD-infused sparkling beverages made for the Canadian market. On a mission to naturally empower people to be their best, balanced selves, Biolux leads a new generation of premium beverage developers, committed to crafting clean label cannabis products made for health-conscious consumers. Discover more at drinkubu.ca
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Forward-Looking StatementsCertain 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 anticipated production and sale of products into the Province of Quebec, in particular in relations to and for SQDC and Biolux. 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.