BEVCANNA ENTERPRISES INC - BVNNF STOCK NEWS

BevCanna Enterprises Inc. has completed the acquisition of Embark Health Inc., enhancing its growth trajectory in the health and wellness beverage sector. This acquisition, valued at $21 million and involving the exchange of 54,926,021 shares at a 146% premium, adds significant assets and intellectual property. The deal also contributes $17 million in tangible assets and a state-of-the-art production facility in Delta, BC. It diversifies BevCanna's offerings with innovative cannabis products and proprietary technologies.

BevCanna Enterprises Inc. reported a remarkable revenue increase of over 1,000% for Q3 2021, reaching $1.1 million compared to $94,000 during the same period in 2020. The company achieved a gross profit of $356,168, reversing a loss from the prior year. BevCanna also secured listings with major Canadian distributors and announced its acquisition of Embark Health Inc., enhancing its product offerings. However, cash reserves decreased to $655,563 compared to $1.0 million at year-end 2020.

BevCanna Enterprises announced the successful outcomes of its Annual General and Special Meeting of Shareholders held on November 24, 2021. All proposed resolutions were approved, including the re-election of directors Marcello Leone, John Campbell, and Martino Ciambrelli, with votes exceeding 97%. However, Phil Fontaine received only 30.1% support. Additionally, Dale Matheson Carr-Hilton Labonte LLP was re-appointed as the auditor with a high approval rate of 98.34%. The company is focused on developing innovative health and wellness beverages.

BevCanna Enterprises Inc. announces its exclusive partnership with the Canadian Country Music Association for Country Music Week 2021, taking place in London, Ontario from November 26-29, 2021. TRACE alkaline water will be promoted at the event, populating welcome packages and menu listings.

This initiative aims to boost brand visibility among country music fans, a demographic the company identifies as a strong match for TRACE. BevCanna continues to expand its health beverage portfolio while also completing a debt settlement transaction involving $605,894.58.

BevCanna Enterprises Inc. reports that its initial online shipment of Keef Brands cannabis-infused beverages has sold out, demonstrating strong consumer demand. The beverages include Bubba Kush Root Beer and Orange Kush Classic Soda, which are among Keef's best sellers in the U.S. BevCanna is the exclusive manufacturer of these beverages in Canada and is ramping up production to meet customer needs. The company boasts a 40,000-square-foot facility and an alkaline spring water source, alongside a large distribution network.

BevCanna Enterprises is partnering with MZ Group to enhance investor relations and financial communications as it expands into a diversified health and wellness company. This strategy includes the acquisition of Embark Health, aimed at creating innovative health products. MZ Group will help increase visibility within investment communities through various strategies. The company operates a HACCP-certified facility with significant bottling capacity and plans for expansion, supported by a solid pipeline of acquisitions. The cannabis market is projected to reach $90.4 billion by 2026, highlighting growth potential.

BevCanna Enterprises has received an amendment to its Health Canada Cannabis Research License, enabling sensory evaluations of cannabis beverages. This unique capability will facilitate on-site human assessments of taste, smell, feel, and visual appeal, providing a competitive edge in product development. The trials will take place at their Osoyoos, British Columbia facility and are expected to enhance both BevCanna’s products and those of its white-label clients.