Lotus Launches Joker Juice Cannabis Strain in BC and Reduces Debt with Shares

Rhea-AI Summary

Lotus Ventures Inc. (CSE: J) (OTC Pink: LTTSF) announces the launch of its new collaborative strain 'Joker Juice' in BC and its approval for the OCS Flow Through program in Ontario. The company also expresses gratitude for the support received and provides an update on the debt reduction efforts.

Positive

• Successful launch of 'Joker Juice' in BC
• Approval for the OCS Flow Through program in Ontario
• Expansion of Lotus grown flower sales to 47% of cannabis stores in BC

Negative

• Company operates with limited working capital
• Debt reduction through share issuance may dilute shareholder value

Vancouver, British Columbia--(Newsfile Corp. - December 15, 2023) - Lotus Ventures Inc. (CSE: J) (OTC Pink: LTTSF) ("Lotus" or the "Company") a BC based licensed cannabis producer and owner of the Lotus Cannabis Co.^™ brand, announces the launch of its next collaborative strain launch, the "Joker Juice," now available in BC. With its pungent blend of terpenes and enjoyable potency, the Joker Juice provides a smooth experience for consumers looking for rare BC-grown cannabis.

The Joker Juice is currently offered in two dried flower SKUs in BC:

• Joker Juice 2 Gram (Available at select BC retailers via direct delivery)
• Joker Juice 7 Gram

The Joker Juice was also approved for the OCS Flow Through program and is expected to be sold in Ontario around springtime.

The Joker Juice is our new collaborative strain launch with the BC Weed Co., a passionate group of cannabis enthusiasts with deep roots in BC. This strain, known for its distinctive aroma, well-balanced effects, and visually striking appearance brings together a roster of champions. Jealousy, Ice Cream Cake, and Grape Gas are all found in its lineage. The dense, dark purple and green buds have a sweet candy grape note that first greets the palate and follows through with spice and fuel to finish. Retailers and consumers can expect the initial LOT of the Joker Juice to be 24.5% THC and 2.4% in terpenes with myrcene, ocimene and linalool leading.

Figure 1 & 2: The Joker Juice Flower

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6426/191317_lotusventuresfig.jpg

The Lotus team would like to thank all the retailers and consumers that have already purchased the Joker Juice. Between the Joker Juice and the Keylime Kush, Lotus grown flower is currently sold in approximately 185 retail locations or 47% of cannabis stores in BC.

Debt Reduction - The Company continues to operate with limited working capital. To reduce the working capital deficit, the Company has negotiated a reduction of approximately $628K of its debt by issuing 25,141,640 shares at $0.025 per share with warrants at $0.05 per share expiring December 5, 2028.

ON BEHALF OF LOTUS VENTURES INC:
Lotus Ventures Inc.
"Dale McClanaghan"
Dale McClanaghan, President and CEO

About Lotus Ventures Inc.
Lotus Ventures Inc. is a BC based, award-winning licensed cannabis producer and owner of the Lotus Cannabis Co.^™ consumer brand. Lotus grows exclusive and rare strains like the Joker Juice and Keylime Kush which is carried in over 300 retail locations across BC and Ontario.

Lotus Ventures Inc. is listed on the Canadian Securities Exchange (CSE: J) and on the OTC Markets (OTC Pink: LTTSF).

For More Information:

President & CEO
Dale McClanaghan
dalemcclanaghan@gmail.com
(604) 644-9844

Investor Relations
Daniel McRobert
investors@lotuscannabis.ca
(604) 842-4625

To learn more, visit lotuscannabis.ca and follow the Lotus Cannabis Co.^™ brand on social.

Instagram: @lotuscannabisco
Twitter: @lotuscannabisco
LinkedIn: @lotuscannabisco
Facebook: @lotuscanna

Forward-Looking Information:

This document includes certain statements that are not descriptions of historical facts but are forward-looking statements. Such statements include, among others, those concerning our expected financial performance and strategic and operational plans, our future operating results, our expectations regarding the market for medical and recreational cannabis products, our expectations regarding the continued growth of the medical and recreational cannabis market, as well as all assumptions, expectations, predictions, intentions, or beliefs about future events. Users are cautioned that any such forward-looking statements are not guarantees of future performance and that a number of risks and uncertainties could cause our actual results to differ materially from those anticipated, expressed or implied in the forward-looking statements. These risks and uncertainties have not been documented or mentioned in this document nor other communications made by the company. The words "believe," "expect," "anticipate," "project," "targets," "optimistic," "intend," "aim," "will" or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. The Company assumes no obligation and does not intend to update any forward-looking statements, except as required by law.

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/191317

FAQ

What is the new strain launched by Lotus Ventures Inc. in BC?

Lotus Ventures Inc. has launched a new collaborative strain called 'Joker Juice' in BC.

Where is the Joker Juice expected to be sold next?

The Joker Juice is expected to be sold in Ontario through the OCS Flow Through program around springtime.

How many retail locations currently sell Lotus grown flower in BC?

Approximately 185 retail locations, which is 47% of cannabis stores in BC, currently sell Lotus grown flower.

What is the debt reduction strategy employed by Lotus Ventures Inc.?

Lotus Ventures Inc. has negotiated a reduction of approximately $628K of its debt by issuing 25,141,640 shares at $0.025 per share with warrants at $0.05 per share expiring December 5, 2028.