Sproutly Announces its 5th Provincial Supply Agreement and Changes to Board of Directors

Nachrichtenquelle: Business Wire (engl.)
07.07.2020, 00:58  |  284   |   |   

Sproutly Canada, Inc. (CSE: SPR) (OTCQB: SRUTF) (FSE: 38G) (“Sproutly" or the “Company”) announced today the addition of a supply agreement with British Columbia Liquor Distribution Branch, the Company’s 5th provincial supply agreement to date, as well as changes to its Board of Directors.

Supply Agreement

The Company’s wholly-owned subsidiary, Toronto Herbal Remedies (“THR”), has entered into a cannabis supply agreement with the province of British Columbia (the “Supply Agreement”) through the British Columbia Liquor Distribution Branch, and completed an initial sale into the province. British Columbia is the 5th province in Canada to carry Sproutly’s CALIBER branded indoor-grown dried flower products ("CALIBER"), following Saskatchewan and Manitoba earlier this year.

“We are pleased to announce the addition of British Columbia as our newest partner to carry our CALIBER branded products,” said Dr. Sen, CEO & Director of Sproutly. “Consistent with our plans, our small-batch dried flower is only the beginning of our CALIBER brand portfolio. We are looking to leverage innovative developments as we focus on commercialization of our proprietary APP Technology via the production and sale of specialized ingredients and Cannabis 2.0 products formulated with these ingredients.”

APP Technology is a proprietary technology that produces all natural whole-plant BioNatural Oils (BNO) and water soluble Infuz2O.

Board of Directors

Gregg Orr resigned from the Board of Directors and was replaced by the appointment of Sproutly’s CFO, Craig Loverock, as a Director, effective June 30, 2020. In addition, the Company has appointed Paul Marcellino to the Board of Directors, effective July 6, 2020 subject to regulatory approval.

With a degree in chemistry and as prior CEO of an international nutraceutical company, Mr. Marcellino brings both the experience and vision to develop and implement business development and provide oversight. Mr. Marcellino has been intricately involved in the development and commercialization of the APP technology.

“On behalf of our board of directors, I want to thank Gregg for his valuable service and contributions and wish him well in future endeavors,” stated Dr. Arup Sen, CEO & Director of Sproutly. “We are happy to have Paul and Craig joining the Board, as this furthers the reorganization as another step in the execution of the Business Transformation plan.”

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