Cannabis Report: Record profits, lawsuits, and acquisitions, oh my!
Simply Solventless Concentrates announced a significant milestone with the achievement of profitability at its wholly owned subsidiary, Humble Grow Co. The initial post-integration results have exceeded projections, supporting its strategy focused on organic revenue growth and acquisitions (Source: Simply Solventless Concentrates Ltd.)
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Cision Canada
15 hours ago
- Cision Canada
SIMPLY SOLVENTLESS ANNOUNCES Q1 2025 FINANCIAL RESULTS INCLUDING RECORD ANNUALIZED GROSS REVENUE OF $49.6 MILLION ($0.459/SHARE) AND ANNUALIZED ADJUSTED EBITDA OF $12.8 MILLION ($0.120/SHARE)
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./ CALGARY, AB, June 20, 2025 /CNW/ - Simply Solventless Concentrates Ltd. (TSXV: HASH) (" SSC") is pleased to announce its Q1 2025 financial and operating results including record quarterly gross revenue of $12.4 million, EBITDA of $9.5 million, net and comprehensive income of $8.4 million, and adjusted EBITDA of $3.2 million. These results represent annualized gross revenue of $49.6 million ($0.459/share) and annualized adjusted EBITDA of $12.8 million ($0.120/share). The information set out in this press release should be read in conjunction with SSC's condensed interim consolidated financial statements as at and for the three months ended March 31, 2025 and the related management's discussion and analysis, which are available for review on SSC's SEDAR+ profile at Jeff Swainson, President and CEO of SSC, stated: "Q1 2025 was a strong quarter for SSC with the closing of the Humble acquisition, which vertically integrated our operations into cultivation, the closing of an over subscribed $6.0 million convertible debenture offering, achieving record gross revenue and adjusted EBITDA, the expansion of our asset base from $10.9 million in Q1 2024 to $57.8 million in Q1 2025, and subsequent to quarter end, significantly improving our balance sheet with the repayment of $3.4 million, the discharge of $0.5 million, and the deferral of $3.25 million of debt. Our steadfast focus for 2025 is to leverage our portfolio of assets to maximize profitability, cash flow from operations, and balance sheet strength, while achieving a lower cost of capital." Q1 2025 Financial Highlights: INCOME STATEMENT FIGURES Q1 2025 Q1 2025 ANNUALIZED Q1 2024 Q1 2024 ANNUALIZED % INCREASE Gross Revenue $12.4M $49.6M $3.1M $12.4M 298 % Gross Revenue/Share $0.115 $0.459 $0.064 $0.258 78 % Net Revenue $9.9M $39.6M $2.3M $9.2M 330 % Net Revenue/Share $0.091 $0.365 $0.047 $0.190 93 % Gross Margin $4.8M $19.2M $1.1M $4.4M 331 % Gross Margin/Share $0.044 $0.178 $0.023 $0.092 94 % EBITDA (1) $9.5M Not Annualized (2) $0.6M $2.4M 1,451 % EBITDA/Share $0.087 Not Annualized (2) $0.012 $0.050 595 % Adjusted EBITDA (1) $3.2M $12.8M $0.6M $2.4M 417 % Adjusted EBITDA/Share $0.030 $0.120 $0.012 $0.050 131 % Net Income $8.4 Not Annualized (2) $0.5M $2.0M 1,573 % Net Income/Share $0.078 Not Annualized (2) $0.010 $0.041 650 % Normalized Net Income (NNI) (1) $1.6 $6.4M $0.5M $2.0M 500 % NNI/Share $0.014 $0.057 $0.010 $0.041 38 % Cash from Operations Prior to Changes in Working Capital $2.0M $8.0M $0.6M $2.4M 233 % Gross Margin % 48.7 % 48.7 % 48.6 % 48.6 % 0 % (1) Non-IFRS financial measure. See discussion in the Non-IFRS Financial Measures advisories section of this press release below. (2) Not annualized as $7.7 million bargain purchase gain is non-recurring and skews figures. The results above include the consolidated operations of SSC and its wholly owned subsidiaries Massive Hash Factory Ltd., CannMart Inc. (acquired on September 12, 2024), ANC (acquired on October 18, 2024, effective October 1, 2024), and Humble (acquired on February 28, 2025, adding 1 month of operating results). SSC is continuing to capture synergies in respect of these acquisitions to further reduce costs. Continued Rationalization and Cost Savings During late Q1 2025, SSC continued to restructure operations to capture acquisition synergies. This restructuring reduced headcount by approximately 58 during March 2025, reducing annualized payroll costs by approximately $2,500,000. These amounts exclude headcount reductions made prior to closing the Humble acquisition. SSC has identified further restructuring opportunities with an estimated cost savings of between $500,000-$1,000,000 per year. Q1 2025 Operational Highlights $6.0 million Convertible Debenture Financing: On February 13, 2025, SSC completed a $6.0 million financing through the issuance of 6,000 debenture units (" Debenture Units") pursuant to an offering (the " Offering") at a price of $1,000 per Debenture Unit. Each Debenture Unit is comprised of one $1,000 principal value secured convertible debenture of SSC (" Debentures") and 1,000 common share purchase warrants of SSC (the " Warrants"). The Debentures are convertible into SSC common shares (" Common Shares") at $1.00 per Common Share at the option of the holder and at any time during the term of the Debentures. Interest accrues on the Debentures at 11% per annum, which interest is payable quarterly in cash by SSC. The Debentures mature on the date which is 48 months from the closing date, are secured by all present and after acquired property of SSC and its subsidiaries, and are subordinated to the Notes (defined below). A total of 6,000,000 Warrants were issued pursuant to the Offering. Each Warrant is exercisable for one Common Share at a price of $1.20 per Common Share for a period of four years from the closing date. The Debentures, Warrants and underlying Common Shares were subject to a hold period of four months and one day from the closing date. 350 Debenture Units (for gross proceeds of $350,000) were issued to Note holders for partial settlement of the Note balance outstanding. Acquisition of Humble: On February 28, 2025, SSC acquired all the issued and outstanding shares of Delta 9 Bio-Tech (now Humble) for cash consideration of $3,000,000 (" Acquisition"). In connection with the Acquisition, SSC entered into a lease agreement on closing in respect of the Facility (defined below) with an arms-length party for a 10-year term with renewal options. Humble operates a 98,000 square foot GACP certified cannabis cultivation facility in Winnipeg, Manitoba (the " Facility"), with an annual cultivation capacity of approximately 8,000-9,000kg of dried cannabis flower and trim. Humble services the recreational dried flower markets in Ontario, Alberta, Manitoba, Saskatchewan, British Columbia, and the Maritimes, and the business-to-business wholesale market in Canada and internationally. Key anticipated benefits and synergies are as follows: Low Cultivation Costs: Upon capture of synergies and optimization, it is expected that the all-in cash cost to cultivate will be approximately $0.70 per gram, among the lowest for indoor cannabis in Canada. No Liabilities: As Humble was acquired through CCAA proceedings, SSC assumed no liabilities upon closing of the Acquisition. Tax Pools: Humble has approximately $60 million of accrued non-capital loss tax pools which may be usable to SSC. Should these tax pools be utilized, they are expected to reduce future tax payments by up to $12 million at an effective tax rate of 20%. International Exposure: The Facility is GACP certified, allowing for the export of dried flower to international markets, which currently attracts higher selling prices. Complimentary Products: The Acquisition allows SSC to participate in the dried flower product category, which is the largest cannabis product category in Canada with a market share of approximately 40% (according to Headset data). Supply Chain: In the opinion of SSC, the supply demand dynamic is balancing in the Canadian wholesale cannabis marketplace, making it more difficult to procure the inputs that SSC requires. The Acquisition secured a supply of high-quality flower and trim for use in SSC's prerolls and in the manufacturing of concentrates and hash. Prerolling: Humble sells regular and infused prerolls in numerous markets. SSC's subsidiary ANC Inc. brings this manufacturing in-house, maximizing efficiency. Vapes: Humble sells vape cartridges in numerous markets. This manufacturing has come in-house at SSC's Massive Hash Factory facility, reducing production costs. Inventory Velocity: Humble sells several products that SSC manufactures, including hash, which helps maximize inventory turnover. Facility Cost Savings: SSC will be able to rationalize the activities performed at its various facilities, reducing fixed operating costs by approximately $750,000 annually once rationalized. Cost Synergies: Administration, including but not limited to public company costs, accounting, IT, governance, and HR are shared, reducing costs significantly. Blended Excise Rate: Humble pays lower excise rates as a cultivator, which lowers SSC's overall corporate blended excise tax rate. Repayment of $3.4 Million of ANC Promissory Notes & Deferral of Remainder: Subsequent to Q1 2025, $3.4 of the maximum remaining $7.15 million combined ANC Promissory Note and Reserve Earnout Promissory Note (collectively, the " Notes") were repaid through the issuance of 6,875,000 common shares of SSC at $0.50 per common share (subject to TSXV approval). $0.5 million of the Notes were discharged, $1.0 million of the Notes are now payable on June 3, 2026, and $2.2 million (" Payments Balance") of the Notes are payable with average weekly payments of $21,370.19 over two years. Should SSC repay the $2.2 million Payments Balance by July 31, 2025, the remaining principal balance owing at that time will be reduced by $367,500. Should SSC repay this balance by December 31, 2025, the remaining principal balance owing at that time will be reduced by $245,000. The equity issued is subject to a hold period of four months and one day from the date of issuance. This transaction significantly de-levered SSC's balance sheet. About Simply Solventless Concentrates Ltd. SSC is a public company incorporated under the Business Corporations Act (Alberta). SSC's mission is to provide pure, potent, terpene-rich ready to consume cannabis products to discerning cannabis consumers. For more information regarding SSC, please see Notice on Forward Looking Information This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends", "expects", "projected", "approximately" and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this press release contains forward looking statements concerning continued organic revenue growth, the continued synergies expected from integrating CannMart Inc., ANC, and Humble into SSC's operations, capitalizing on SSC's business plan and SSC's expected growth, results of operations and performance. SSC cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of SSC, including expectations and assumptions concerning SSC, the timing and market acceptance of products, competition in SSC's markets, SSC's reliance on customers, fluctuations in interest rates, SSC's ability to maintain good relations with its customers, employees and other stakeholders, changes in law or regulations, SSC's ability to protect its intellectual property, as well as other risks and uncertainties, including those described in SSC's filings available on SEDAR+ at The reader is cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of SSC. The reader is cautioned not to place undue reliance on any forward-looking statements. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release, and SSC does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law. This press release contains future-oriented financial information and financial outlook information (collectively, "FOFI") about cost saving and rationalization and restructuring (payroll and other), gross revenue, adjusted EBITDA and NNI of SSC, which are subject to the same assumptions, risk factors, limitations and qualifications as set forth in the above paragraphs. FOFI contained in this document was approved by management as of the date of this document and was provided for the purpose of providing further information about SSC's future business operations. SSC and its management believe that FOFI has been prepared on a reasonable basis, reflecting management's best estimates and judgments, and represent, to the best of management's knowledge and opinion, SSC's expected course of action. However, because this information is highly subjective, it should not be relied on as necessarily indicative of future results. SSC disclaims any intention or obligation to update or revise any FOFI contained in this document, whether as a result of new information, future events or otherwise, unless required pursuant to applicable law. Readers are cautioned that the FOFI contained in this document should not be used for purposes other than for which it is disclosed herein. Differences in the timing of capital expenditures or revenues and variances in production estimates can have a significant impact on the key performance measures included in SSC's guidance. SSC's actual results may differ materially from these estimates. Non-IFRS Financial Measures This press release includes references to "working capital", "current ratio", "inventory turnover", "EBITDA", "adjusted EBITDA" and "normalized net income", which are not defined under International Financial Reporting Standards (IFRS). The intent of these non-IFRS measures is to provide additional useful information to investors and analysts. These non-IFRS measures do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other entities. As such, these non-IFRS measures should not be considered in isolation or used as a substitute for measures of performance prepared in accordance with IFRS. Working capital is an indicative measure of SSC's ability to service its short-term financial obligations with short-term assets. Management believes this measure provides useful information about SSC's current short-term liquidity. Refer to "Liquidity and Capital Resources" for a detailed calculation of this measure in SSC's Q1 2025 MD&A. Current ratio is calculated by dividing current assets by current liabilities and is meant to indicate whether a company is capable of servicing its current liabilities. Inventory turnover is calculated by dividing cost of goods sold by inventory, and is meant to indicate how efficient a company is at turning inventory into cash. EBITDA is calculated as income before interest and finance costs, taxes, depreciation and amortization expenses. EBITDA is considered as a useful measure by management of SSC to understand the profitability of SSC excluding the effects of capital structure, taxation and depreciation, but may not be appropriate for other purposes. EBITDA is considered a useful measure by management to understand profitability excluding the effects of capital structure, taxation and depreciation, but may not be appropriate for other purposes. Adjusted EBITDA is not defined under IFRS and therefore should not be considered an alternative to, or more meaningful than net income (loss) and comprehensive income (loss). Adjusted EBITDA is calculated as net income before interest and finance costs, taxes, depreciation and amortization expenses, share based compensation, gain settlement or disposal or bargain purchase gains, non-recurring restructuring costs and acquisition costs, foreign exchange gains and losses and government rebates, and other gains or costs that are expected to be non-recurring. Adjusted EBITDA is considered a useful measure by management to understand profitability excluding the effects of capital structure, taxation and depreciation, and non-recurring items, but may not be appropriate for other purposes. NNI is considered as a useful measure by management of SSC to understand the profitability of SSC excluding the effects of certain non-operating items. NNI is calculated as net income less gain settlement or disposal or bargain purchase gains, non-recurring restructuring costs and acquisition costs, foreign exchange gains and losses and government rebates, income tax recovery, and other gains or costs that are expected to be non-recurring. See the " Operations" section in SSC's management's discussion & analysis for Q1 2025 and the year ended December 31 2024, available on SEDAR+ at for a quantitative reconciliation of net income to adjusted EBITDA for such period, which information is incorporated by reference in this press release. Shown below is a reconciliation of EBITDA, adjusted EBITDA and NNI for Q1, 2025. Reconciliation of Non-GAAP Measures EBITDA and Adjusted EBITDA For the Three Months Ended March 31, 2025 March 31, 2024 Net and comprehensive income $ 8,408,008 $ 502,536 Non-operating items: Depreciation and amortization 587,091 13,234 Finance costs 558,221 51,832 Income tax recovery (97,214) - EBITDA 9,456,106 567,602 Non-operating items: Restructuring costs 551,175 - Acquisition costs 372,316 - Foreign exchange loss 15,175 - Government rebates 28,786 - Bargain purchase acquisition price (7,725,913) - Share compensation expense 552,237 43,969 Adjusted EBITDA $ 3,249,882 $ 611,571 Normalized Net Income For the Three Months Ended March 31, 2025 March 31, 2024 Net and comprehensive income $ 8,408,008 $ 502,536 Non-operating items: Restructuring costs 551,175 - Acquisition costs 372,316 - Foreign exchange loss 15,175 - Government rebates 28,786 - Bargain purchase acquisition price (7,725,913) - Income tax recovery (97,214) 43,969 Normalized net income $ 1,552,333 $ 546,505 This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. SOURCE Simply Solventless Concentrates Ltd.
Cision Canada
7 days ago
- Cision Canada
Charlotte's Web Reports Shareholder Meeting Voting Results
LOUISEVILLE, Colo., June 13, 2025 /CNW/ - (TSX: CWEB) (OTCQX: CWBHF) Charlotte's Web Holdings, Inc. (" Charlotte ' s Web" or the " Company") is pleased to announce the results from its 2025 annual general meeting of shareholders held on June 12, 2025 via live audio webcast (the " Meeting"). Each of the matters voted upon at the Meeting is discussed in detail in the Company's Proxy Statement dated April 29, 2025, a copy of which is available on the Company's SEDAR profile at and on EDGAR at The total number of votes cast at the Meeting was 58,493,957, representing 36.87% of the total number of votes attached to the outstanding voting shares of the Company. According to the proxies received, the results of the vote for the election of directors were as follows: Detailed results of the matters considered at the Meeting are reported in the Report of Voting Results as filed on the Company's SEDAR+ profile at About Charlotte's Web Holdings, Inc. Charlotte's Web Holdings, Inc., a Certified B Corporation headquartered in Louisville, Colorado, is a botanical wellness innovation company and a market leader in hemp extract wellness that includes Charlotte's Web whole-plant full-spectrum CBD extracts as well as broad-spectrum CBD and cannabinoid isolates. The Company's hemp extracts have naturally occurring botanical compounds including cannabidiol ("CBD"), CBN, CBC, CBG, THC, terpenes, flavonoids, and other beneficial compounds. Charlotte's Web product categories include CBD oil tinctures (liquid products), CBD gummies (sleep, calming, exercise recovery, immunity), CBN gummies, hemp-derived THC microdose gummies, functional mushroom gummies, CBD capsules, CBD topical creams, and lotions, as well as CBD pet products for dogs. Through its substantially vertically integrated business model, Charlotte's Web maintains stringent control over product quality and consistency with analytic testing from soil to shelf for quality assurance. Charlotte's Web products are distributed to retailers and healthcare practitioners throughout the U.S.A. and are available online through the Company's website at
Cision Canada
28-05-2025
- Cision Canada
Innocan Pharma Announces First Quarter 2025 Financial Results with Continued Strong Revenue Growth and Provides Corporate Update
HERZLIYA, Israel and CALGARY, AB, May 28, 2025 /CNW/ -- Innocan Pharma Corporation (CSE: INNO) (FSE: IP4) (OTC: INNPF) (the " Company" or " Innocan"), a pharmaceutical technology company focusing on developing innovative drug delivery platform technologies is pleased to announce its financial consolidated results for the first quarter ended March 31, 2025, and provides a corporate update on its recent activities and upcoming milestones. Key Business Highlights US $1 million raised through Private Placement - on March 7, 2025, the Company completed a non-brokered private placement of a debenture unit (the " Debenture Unit") to its largest shareholder, Tamar Innovest Ltd., raising US $1 million. First Quarter 2025 Financial Highlights Revenues increased 15% in the first quarter of 2025 to US$7.8 million, compared to US$6.8 million in the first quarter of 2024. This increase in revenue was due to the robust sales performance of Innocan's subsidiary, BI Sky Global Ltd. Gross Profit increased 19% in the first quarter of 2025 to US$7.1 million, compared to US$6.0 million in the first quarter of 2024. Operating loss decreased by 140% to operating profit of US$0.5 million in the first quarter of 2025, compared to operating loss of US$1.2 million in the first quarter of 2024. Corporate Highlights and Business Update Broaden Intellectual Property Coverage for Liposomal CBD Injection Across Asia. The Company reported advancing its efforts to strengthen the protection of its intellectual property across additional Asian markets, following the recently granted patent in India for a prolonged-release pharmaceutical formulation using liposomes to encapsulate CBD. The liposomal drug delivery platform allows for prolonged exposure and maximizes the bioavailability and therapeutic effects of CBD. Innocan's synthetic CBD-loaded Liposome Injection Platform (LPT-CBD) received positive feedback from the U.S. Food and Drug Administration (FDA) following a successful pre-IND meeting to advance its development as a non-opioid alternative for chronic pain management. The Indian patent, granted in a pharmaceutical market estimated at US $55 billion (Bain & Company) complements Innocan's global patent applications, strengthening the proprietary value of its novel liposome-based cannabinoid technology. In addition, Innocan reported the filing of this divisional application for its LPT-CBD technology in China which management believes reflects the expertise and commitment of Innocan's team and represents a strategic step in aligning the Company's intellectual property portfolio with its long-term global business objectives. This application aims to protect LPT-CBD. The FDA's Center for Veterinary Medicine (CVM) has granted Innocan a sponsor fee waiver for its LPT-CBD product for the second consecutive year. Following a thorough review, the CVM granted Innocan the 2025 fee waiver, recognizing the Company's continued pursuit of innovative animal drug products and technology. The waiver applies to the Company's LPT-CBD drug product, developed for subcutaneous injection to manage chronic pain in dogs. With growing interest in CBD products among pet owners seeking safe and effective ways to support their pets' health, Innocan's LPT-CBD aims to deliver precise and sustained CBD release from a single injection. This innovation offers a safe and convenient dosing solution for managing chronic pain in dogs, providing benefits for pets of all ages and sizes. Management Comments Iris Bincovich, CEO of Innocan Pharma, commented: "We are very pleased with our strong start to 2025, marked by solid results in the first quarter. This positive momentum reflects the dedication and excellence of our team. We continued to deliver meaningful, customer-centric innovation while maintaining a disciplined approach to operational management. Our progress this quarter reinforces our confidence in our strategic direction and positions us well for continued success throughout the year." "We are moving forward with the FDA approval process for our LPT-CBD delivery system designed for precise dosing and sustained release into the bloodstream, targeting chronic pain relief. Our commitment to innovation and improving patient outcomes remains at the core of everything we do. It's an exciting time for Innocan and our shareholders." Roni Kamhi, CEO of BI Sky Global and COO of Innocan Pharma, commented: "We're very encouraged by the performance of the results in Q1 2025. We are continuing to move forward in both segments "LPT platform - and our consumer wellness. At BI Sky Global, our products continue to gain the trust of millions of customers. We are leveraging our deep expertise in the cosmetics industry along with advanced data analytics to better understand and meet the evolving needs of our customers. Looking ahead, we're focused on further strengthening BI Sky Global's position as a leading company in the beauty and personal care market. The Company's full set of unaudited condensed interim consolidated financial statements for the three months ended March 31, 2025, and accompanying management's discussion and analysis can be accessed by visiting the Company's website at and its SEDAR+ profile at Innocan is a pharmaceutical tech company that operates under two main segments: Pharmaceuticals and Consumer Wellness. In the Pharmaceuticals segment, Innocan focuses on developing innovative drug delivery platform technologies based on advanced cannabinoids science, to treat various conditions to improve patients' quality of life. This segment involves its primary drug delivery technology, LPT-CBD loaded liposome platform facilitating exact dosing and the prolonged and controlled release of CBD into the blood stream. The LPT delivery platform research is in the preclinical trial phase for two indications: pain management and epilepsy. In the Consumer Wellness segment, Innocan develops and markets a wide portfolio of innovative and high-performance self-care products to promote a healthier lifestyle. Under this segment, Innocan is a 40% shareholder in the joint venture company, BI Sky Global Ltd., which company focuses on advanced targeted online sales. For further information, please contact: NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. Cautionary note regarding forward-looking information Certain information set forth in this news release, including, without limitation, information regarding research and development, collaborations, the filing of potential applications with the FDA and other regulatory authorities, the potential achievement of future regulatory milestones, the potential for treatment of conditions and other therapeutic effects resulting from research activities and/or the Company's products, requisite regulatory approvals and the timing for market entry, is forward-looking information within the meaning of applicable securities laws. By its nature, forward-looking information is subject to numerous risks and uncertainties, some of which are beyond Innocan's control. The forward-looking information contained in this news release is based on certain key expectations and assumptions made by Innocan, including expectations and assumptions concerning the anticipated benefits of the products, satisfaction of regulatory requirements in various jurisdictions and satisfactory completion of requisite production and distribution arrangements. Forward-looking information is subject to various risks and uncertainties which could cause actual results and experience to differ materially from the anticipated results or expectations expressed in this news release. The key risks and uncertainties include but are not limited to: general global and local (national) economic, market and business conditions; governmental and regulatory requirements and actions by governmental authorities; and relationships with suppliers, manufacturers, customers, business partners and competitors. There are also risks that are inherent in the nature of product distribution, including import / export matters and the failure to obtain any required regulatory and other approvals (or to do so in a timely manner) and availability in each market of product inputs and finished products. The anticipated timeline for entry to markets may change for a number of reasons, including the inability to secure necessary regulatory requirements, or the need for additional time to conclude and/or satisfy the manufacturing and distribution arrangements. As a result of the foregoing, readers should not place undue reliance on the forward-looking information contained in this news release concerning the timing of launch of product distribution. A comprehensive discussion of other risks that impact Innocan can also be found in Innocan's public reports and filings which are available under Innocan's profile at Readers are cautioned that undue reliance should not be placed on forward-looking information as actual results may vary materially from the forward-looking information. Innocan does not undertake to update, correct or revise any forward looking information as a result of any new information, future events or otherwise, except as may be required by applicable law.
