Sativa Wellness Group Announces German Distribution Agreement for Goodbody Brand
Sativa Wellness Group has signed an exclusive distribution agreement with Lexamed GMBH to expand its Goodbody CBD brand in Germany, with future plans for Europe. This deal includes the transfer of full ownership of Sativa GMBH to Lexamed, which will be renamed Lexalife GMBH, serving as the distribution partner. The existing Goodbody range will be made available through various channels in Germany, and both companies aim to develop new products. This strategic move is anticipated to enhance Sativa's footprint in the strong German CBD market.
- Exclusive distribution agreement with Lexamed GMBH to enhance Goodbody CBD brand presence in Germany.
- Plans for product expansion in other European markets.
- Transfer of Sativa GMBH to Lexamed simplifies operations and strengthens partnership.
- None.
VANCOUVER, BC / ACCESSWIRE / August 24, 2021 / Sativa Wellness Group Inc. (CSE:SWEL) ("Sativa Wellness" or the "Company") is pleased to announce today that it has signed a distribution agreement with German partners Lexamed GMBH ("Lexamed"). This exclusive agreement will allow both parties to work together to build the Goodbody CBD brand within Germany with plans to expand this to other European countries in the future. The German market has a strong CBD market, and this is a great opportunity for both companies. The existing Goodbody range will be offered through a number of channels in Germany and the companies will also work together to develop new products for the European market in conjunction with Sativa Wellness's polish extraction and manufacturing facility.
Sativa Group Limited and Lexamed currently share ownership of a joint venture company, Sativa GMBH. As part of this agreement the Company will transfer full ownership of Sativa GMBH to Lexamed and Sativa GMBH will be renamed as Lexalife GMBH ("Lexalife"). Lexalife will act as the distribution partner in Germany for Goodbody Botanicals Limited, Sativa's CBD production and distribution subsidiary.
Geremy Thomas, Executive Chairman, says; "We are really excited about this new development with an existing partner which opens up so many opportunities and helps Sativa to deliver its strategic plan of increasing our footprint in Europe."
The Directors of the Company accept responsibility for the contents of this announcement.
On behalf of the Board of Directors,
Marc Howells Chief Executive Officer Sativa Wellness Group Inc. +44 (0) 20 7971 1255 | Anne Tew Chief Financial Officer Sativa Wellness Group Inc. +44 (0) 20 7971 1255 |
Neither the Canadian Securities Exchange nor its Market Regulator (as defined in the policies of the Canadian Securities Exchange) accept responsibility for the adequacy or accuracy of this release. This news release contains certain 'forward-looking information' within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute 'forward-looking statements' within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Sativa's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate', or 'believes' 'plan is' or variations of such words and phrases or may contain statements that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'will continue', 'will occur', 'will be achieved' or 'shortly'. The forward-looking information and forward-looking statements contained herein include, but are not limited to the existing Goodbody range will be offered through a number of channels in Germany and the companies will also work together to develop new products for the European market in conjunction with Sativa Wellness's polish extraction and manufacturing facility and that Sativa GMBH will transfer fully to Lexamed and be renamed as Lexalife GMBH, to act as the distribution partner in Germany for Goodbody Botanicals Limited.
Although Sativa believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this news release are made as of the date of this press release, and include but are not limited to the existing Goodbody range will be offered through a number of channels in Germany and the companies will also work together to develop new products for the European market in conjunction with Sativa Wellness's polish extraction and manufacturing facility and that Sativa GMBH will transfer fully to Lexamed and be renamed as Lexalife and this will open up so many opportunities and helps Sativa to deliver its strategic plan of increasing our footprint in Europe. Sativa does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.
SOURCE: Sativa Wellness Group Inc.
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