Cannara Releases 14 New SKU's Across Ontario and Quebec

Rhea-AI Summary

Cannara Biotech Inc. (TSXV: LOVE, OTCQB: LOVFF) announced the release of 14 new SKUs of premium cannabis products across Ontario and Quebec. This expansion includes offerings under their flagship brands: Tribal, Nugz, and Orchid CBD. CEO Zohar Krivorot emphasized growth driven by increased demand and purpose-built facilities. Additionally, the Board approved 14,125,000 stock options at prices of $0.10 and $0.18, which are set to vest until September 29, 2027. The company aims to provide high-quality cannabis at affordable prices, supporting its commitment to excellence.

Positive

• Launch of 14 new SKUs across Ontario and Quebec, expanding product offerings.
• Strong demand for premium-grade cannabis, indicating market growth.
• Strategically designed facilities enhance production capabilities.

Negative

• None.

MONTREAL, Sept. 30, 2022 /PRNewswire/ - Cannara Biotech Inc. ("Cannara" or the "Company") (TSXV: LOVE) (OTCQB: LOVFF) (FRA: 8CB),  a Quebec-based, vertically integrated producer of premium-grade cannabis and derivative product offerings at affordable prices, announced today that it will be releasing 14 new SKU's of its premium-grade cannabis in Ontario and Quebec under the Company's flagship brands, Tribal, Nugz, and Orchid CBD brands.

Brand	Product Name	Category	Market
Tribal	Cuban Linx	5 x 0.6 gram prerolls	Ontario
Tribal	Cuban Linx	1 gram live resin full spectrum extract	Ontario
Tribal	Galactic Rntz	3.5 gram dried flower	Quebec, Ontario
Tribal	Galactic Rntz	5 x 0.6 gram prerolls	Quebec, Ontario
Tribal	Triple Burger	3.5 gram dried flower	Quebec
Tribal	Triple Burger	5 x 0.6 gram prerolls	Quebec
Tribal	Uni Pro ARK	Vape Battery	Ontario
Nugz	Slapz	3.5 gram dried flower	Ontario
Nugz	Smalls	14 gram dried flower	Ontario
Nugz	Strain Hunter	15 gram dried flower	Quebec
Orchid CBD	THC I CBD 30:15	Oils	Quebec
Orchid CBD	THC I CBD 15:30	Oils	Quebec
Orchid CBD	CBD 750	Oils	Quebec
Orchid CBD	CBD 2500	Oils	Quebec

"On behalf of the management team, we are excited to bring these 14 new products to our loyal customers as we continue to execute on our mission to provide high-demand premium cannabis products at affordable prices" stated Zohar Krivorot, President & CEO of Cannara Inc. "Our growth across Ontario and Quebec is a testament to the hard work of our staff and our purpose-built facilities designed to grow and process premium cannabis at scale. The demand for our products continues to increase and we look forward to bringing even more options to market as we ramp up our operations" concluded Mr. Krivorot. 

Nicholas Sosiak, CFO of Cannara commented that "our house of brands continue to satisfy our consumers with consistent premium offerings at a value proposition rarely seen in today's market. We continue to build up on our foundation of genetics and commitment to quality with today's announcement." concluded Mr. Sosiak. 

Also announced today, is that the Board of Directors has approved the grant of incentive stock options for certain Directors, Officers, and Employees of the Corporation, pursuant to the Corporation's Employee Stock Option Plan for the purchase of 7,500,000 shares at an exercise price of $0.10, and an aggregate total of 14,125,000 stock options at an exercise price of $0.18 subject to the vesting provisions of the options, at any time up to and including September 29, 2027.

About Cannara Biotech Inc.

Cannara Biotech Inc. (TSXV: LOVE) (OTCQB: LOVFF) (FRA: 8CB) is a vertically integrated producer of premium-grade cannabis and cannabis-derivative products for the Québec and Canadian markets. Cannara owns two mega facilities based in Québec spanning over 1,650,000 sq. ft., providing the Company with 125,000kg of potential annualized cultivation output. Leveraging Québec's low electricity costs, Cannara's facilities produce premium-grade cannabis products at an affordable price. For more information, please visit cannara.ca.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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SOURCE Cannara Biotech Inc.

FAQ

What are the new products launched by Cannara Biotech in September 2022?

Cannara Biotech launched 14 new SKUs of cannabis products including offerings under the Tribal, Nugz, and Orchid CBD brands in Ontario and Quebec.

What are the stock options granted by Cannara Biotech?

Cannara Biotech's Board approved 14,125,000 stock options at exercise prices of $0.10 and $0.18, vesting until September 29, 2027.

Where can I find Cannara Biotech's new cannabis products?

The new cannabis products are available in Ontario and Quebec under the flagship brands Tribal, Nugz, and Orchid CBD.

What is the significance of Cannara Biotech's new product launch?

The launch is a response to growing demand for premium cannabis and reflects Cannara Biotech's strategy to expand its market presence.

What is the ticker symbol for Cannara Biotech on the OTCQB?

Cannara Biotech's ticker symbol on the OTCQB is LOVFF.