Irwin Naturals Cannabis Products Launch Nationwide in Canada
Irwin Naturals Inc. (CSE: IWIN) (OTC: IWINF) has announced the national launch of its new CBD 25mg Softgels in Canada via the Starseed Medicinal Medical Group. This product marks the first release in a planned lineup of five cannabis products, including various CBD and THC formulations. The company aims to leverage its strong brand, recognized in 80% of American households, to penetrate the cannabis market further, targeting a wide range of consumer needs. Founded in 1994, Irwin Naturals operates profitably and seeks to expand into cannabis and psychedelics, with ambitions to establish itself as a household name in all 38 legal cannabis states.
- Launch of CBD 25mg Softgels in Canada via Starseed Medicinal Medical Group enhances market presence.
- Future plans for four additional cannabis products to meet diverse consumer needs.
- Strong brand recognition with a presence in 80% of American households supports expansion.
- Dependence on regulatory approvals and licensing agreements may pose risks.
- Challenges in entering THC markets due to federal restrictions in the U.S.
Company announces products being available nationwide through Starseed Medicinal Medical Platform
LOS ANGELES, March 24, 2023 (GLOBE NEWSWIRE) -- Irwin Naturals Inc. (CSE: IWIN) (OTC: IWINF) (FRA: 97X) (“Irwin” or the “Company”), is proud to announce the release of Irwin Naturals Cannabis’ new CBD 25mg Softgels in Canada, available nationwide through the Starseed Medicinal Medical Group platform.
CBD 25mg Softgels are just the first of five CBD and THC products that Irwin Naturals Cannabis, through its licensing agreement with Entourage Health Corp., plans to launch nationwide in Canada over the next few months. The company's product lineup will include a range of CBD and THC products designed in a variety of formulations to suit consumers’ varying needs.
"We're thrilled to be launching our first cannabis product in Canada," said Klee Irwin, founder of Irwin Naturals Cannabis. "With our CBD 25mg Softgels, we are bringing a high-quality cannabis-derived CBD oil product to allow consumers to incorporate premium CBD into their daily health regimens. We're excited to be able to bring the benefits of CBD to consumers across the country."
The full line of Irwin Naturals Cannabis products will be offered as softgels that utilize hemp seed oil and medium-chain triglyceride (MCT) oil. There will be five different formulations: THC (10 mg THC), CBD (25 mg CBD), 1:1 (10 mg CBD, 10 mg THC), 3:1 (30 mg CBD, 10 mg THC) and a 2:1 formulation that combines THC and the cannabinoid CBN (10 mg THC, 5 mg CBN).
Irwin Naturals was founded in 1994 and its best-in-class nutraceuticals have built it into a brand that is now recognized in 80 percent of American households.1 It has operated profitably for the past 27 years,2 and it is now seeking to use the equity and power of that brand in emerging markets like cannabis and psychedelic mental-health clinics.
Irwin Naturals first entered into the cannabis industry in 2018 when it began infusing hemp-based CBD into its herbal supplements available in the United States. This year, it began expanding its brand to products with THC, with the goal of becoming the first household brand to have its products available in all 38 states where cannabis is currently legal. Because cannabis is not legal at the federal level in the United States, Irwin Naturals Cannabis has gone state by state, reaching licensing agreements with cannabis manufacturers. It has already announced agreements in nine states. This agreement with Entourage in Canada means that Irwin Naturals Cannabis products will achieve not just national, but international distribution.
About Irwin Naturals
Irwin Naturals has been a household name and best-in-class herbal supplement formulator since 1994. It is now leveraging its brand to enter into both the cannabis and psychedelic industries. On a mission to heal the world with plant medicine, Irwin’s growing portfolio of products is available in more than 100,000 retail doors across North America where nearly 100 million people know the Irwin Naturals brand.3 In 2018, the Company first leveraged its brand to expand into the cannabis industry by launching hemp-based CBD products into the mass market. The Company is now leveraging its famous halo of brand trust with an objective to become one of the first household name brands to offer THC-based products and psychedelic mental health treatment. Irwin Naturals became a publicly traded company on the Canadian Securities Exchange (CSE) in August 2021. The Company’s shares began to be traded on the OTCQB Venture Market in November 2021. More information on the Company’s stock can be found via Bloomberg as well as the Wall Street Journal.
“Klee Irwin”
________________________________
Klee Irwin
Chief Executive Officer
T:310-306-3636
investors@irwinnaturals.com
IR Information
For investor-related information, please visit ir.irwinnaturals.com/, call (800) 883-4851, or email Investors@IrwinNaturals.com.
Press Contact
Irwin Naturals Investor Relations
Cassandra Bassanetti-Drumm
T: 310-306-3636
investors@irwinnaturals.com
Forward-Looking Information
This news release contains certain forward-looking statements that reflect the current views and/or expectations of management of the Company with respect to performance, business and future events. Forward-looking statements can often be identified by words such as "may", "will", "would", "could", "should", "believes", "estimates", "projects", "potential", "expects", "plans", "intends", "anticipates", "targeted", "continues", "forecasts", "designed", "goal", “objective,” or the negative of those words or other similar or comparable words. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates. Forward-looking statements in this news release include statements related to information concerning the ability of the Company to perform the terms of the transaction referenced herein; the receipt of all necessary approvals, including regulatory approvals; expectations for other economic, market, business and competitive factors; and the Company actually entering into and doing business in the U.S. cannabis and psychedelics markets. Except for (i) the License and Supply Agreement announced herein and (ii) the other license and supply deals entered into referenced herein (with The Hive Laboratory, LLC, as described in the Company’s April 19, 2022 press release; with Assurance Laboratories as described in the Company’s May 13, 2022 press release; with BeneLeaves Ltd. as described in the Company’s May 24, 2022 press release; Larsen Group II LLC as described in the Company’s May 20, 2022 press release), the Company does not have any other active operations or agreements with respect to the entrance into the THC and/or cannabis markets. The potential entrance by the Company into these new business segments are in their preliminary stages and may be subject to approval from the board of directors of the Company as well as any regulatory approval, including that of the Canadian Securities Exchange. These statements are based on numerous assumptions that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: board and regulatory approval, including the approval of the Canadian Securities Exchange; Irwin being able to acquire and/or enter into business relationships to enter into these new markets; the Company obtaining the required licenses; and changes to regulations and laws regarding cannabis or psychedelics. Further information on the regulatory environment and risks will be contained in future disclosures. Forward-looking statements are subject to a number of known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to be materially different from that which are expressed or implied by such forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties, and assumptions which are difficult to predict. Accordingly, readers should not place undue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary statement. The Company does not undertake any obligation to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.
Neither the CSE nor its Market Regulator (as that term is defined in policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
1 Consumer brand recognition information is based on a formal Company survey with a sample size of 500 randomly selected adults.
2 Under several corporate structures, Klee Irwin has operated the Irwin brand profitably since 1994, as measured by EBITDA adjusted for extraordinary costs.
3 Consumer brand recognition information is based on a formal Company survey with a sample size of 500 randomly selected adults.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a48c9a62-49f3-44fa-8229-5c61e8bb3e2f
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