Embrace the Unexpected: Kolab Project Launches First Cannabis Concentrate with 232 Series Diamonds

Rhea-AI Summary

Kolab Project has launched its 232 Series Diamonds, a new high-potency cannabis concentrate now available to provincial wholesalers. These concentrates, featuring Ice Cream Cake strain, are extracted from flash-frozen cannabis flower, yielding a vibrant yellow crystalline product with 900 mg of total THC per gram. The product comes in environmentally friendly packaging. This launch represents an exciting addition to Kolab Project's offerings, aiming to cater to cannabis connoisseurs.

Positive

• Launch of high-potency 232 Series Diamonds concentrate.
• Product features Ice Cream Cake strain, appealing to connoisseurs.
• Innovative extraction from fresh, flash-frozen cannabis flower.
• Environmentally friendly recyclable packaging.

Negative

• None.

TORONTO, March 24, 2021 (GLOBE NEWSWIRE) -- Today, Kolab Project announces its first concentrate offering – Kolab Project 232 Series Diamonds. Rare in the cannabis market, diamonds are for cannabis connoisseurs looking for a unique high-potency experience. Now available to order for provincial wholesalers, 232 Series Diamonds are single-strain concentrates extracted from fresh, flash-frozen cannabis flower. This first round is produced with Ice Cream Cake, a popular strain launched as part of the Kolab Project Growers Series in partnership with Safari Flower Co. In true Kolab Project fashion, 232 Series Diamonds are available in recyclable and resealable light-proof jars, and biodegradable packaging. Kolab Project is a cannabis brand owned and operated by Auxly Cannabis Group (TSXV – XLY) (“Auxly”).

“Kolab Project is all about offering connoisseurs unique experiences of high-quality cannabis, so highly-potent concentrates are a category we’re excited to activate with 232 Series Diamonds,” said Brad Canario, Brand Director, Auxly. “We’re thrilled to launch with Ice Cream Cake as a limited offering, and will launch new strains in other concentrate formats in coming months.”

For the uninitiated, diamonds are a concentrate that occurs when cannabis is taken through a process of hydrocarbon extraction and the resulting crude extract is then allowed to slowly crystallize. The large crystals are then “mined” and known as diamonds. The Kolab Project 232 Series Diamonds are extracted from fresh whole flower from the Kolab Project x Safari Flower Co. Growers Series Ice Cream Cake strain. The Ice Cream Cake flower is flash frozen after harvesting, resulting in a finished product with a rich terpene coating, preserving the strain’s aroma, with hints of Limonene, Beta Caryophyllene and Linalool. The end result is a highly-potent, vibrant-yellow crystalline product, dense with THCA – in the case of the Kolab Project 232 Series Diamonds, each 1 g unit contains 900 mg of total THC. This uncut and potent THCA is then activated and transformed into THC when sufficiently heated.

About Kolab Project
Kolab Project is a cannabis brand, wholly owned by Auxly Cannabis Group Inc., that aims to connect with cannabis enthusiasts who have an appreciation for the positive impact that art, culture and design have on humanity. Kolab Project cannabis products, available at licensed cannabis retailers across Canada, include premium pre-rolls, vapes, soft chews and chocolate. Visit us at kolabproject.com.

About Auxly Cannabis Group Inc. (TSX.V: XLY)
Auxly is an international cannabis company dedicated to bringing innovative, effective, and high-quality cannabis products to the medical, wellness and adult-use markets. Auxly's experienced team of industry first-movers and enterprising visionaries have secured a diversified supply of raw cannabis, strong clinical, scientific, and operating capabilities and leading research and development infrastructure in order to create trusted products and brands in an expanding global market.

Learn more at www.auxly.com and stay up to date at Twitter: @AuxlyGroup; Instagram: @auxlygroup; Facebook: @auxlygroup; LinkedIn: company/auxlygroup/.

For more information please contact:
Scott Campbell, 647-402-4957, press@auxly.com 

Notice Regarding Forward Looking Information:

This news release contains certain "forward-looking information" within the meaning of applicable Canadian securities law. Forward-looking information is frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or information that certain events or conditions "may" or "will" occur. This information is only a prediction. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking information throughout this news release. Forward-looking information includes, but is not limited to: Auxly’s execution of its product development and commercialization strategy; the successful production and launch of future Kolab Project products; consumer preferences, political change, future legislative and regulatory developments involving cannabis and cannabis products; and competition and other risks affecting Auxly in particular and the cannabis industry generally.

A number of factors could cause actual results to differ materially from a conclusion, forecast or projection contained in the forward-looking information in this release including, but not limited to whether: there is acceptance and demand for Kolab Project products by consumers and provincial purchasers; and general economic, financial market, regulatory and political conditions in which Auxly operates will remain the same. The forward-looking information contained in this release is expressly qualified by the foregoing cautionary statements and is made as of the date of this release. Except as may be required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward-looking information to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise.

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.

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/9f7304e2-8722-4865-a54c-90ef733d5cda

https://www.globenewswire.com/NewsRoom/AttachmentNg/50bfae13-d70b-4437-b72e-74960f1bdb2b

FAQ

What is the Kolab Project 232 Series Diamonds?

The Kolab Project 232 Series Diamonds are high-potency cannabis concentrates extracted from the Ice Cream Cake strain, designed for cannabis connoisseurs.

What is the THC content of Kolab Project 232 Series Diamonds?

Each gram of Kolab Project 232 Series Diamonds contains 900 mg of total THC.

When was the Kolab Project 232 Series Diamonds launched?

The Kolab Project 232 Series Diamonds were launched on March 24, 2021.

Who is the parent company of Kolab Project?

Kolab Project is owned and operated by Auxly Cannabis Group.

What are the packaging features of the Kolab Project products?

Kolab Project products, including the 232 Series Diamonds, are packaged in recyclable and resealable light-proof jars with biodegradable packaging.