SPROUTLY CDA INC - SRUTF STOCK NEWS

Sproutly Canada has executed a Definitive Agreement with Cannabis Manufacturer’s Guild (CMG) to expand its product offerings. This partnership allows Sproutly to utilize CMG's established brands and expertise in the cannabis market, enabling the launch of innovative products through its subsidiary, Toronto Herbal Remedies. The collaboration aims to fill gaps in the Canadian market with new cannabis brands targeting specific consumer segments. Management sees this as a significant step in their business transformation strategy focused on cannabis product marketing and sales.

Sproutly Canada has announced the extension of maturity dates for two private loans from Infusion Biosciences. The January Infusion Loan of $1 million and the August Infusion Loan of $855,000, originally due on April 24, 2021, have been extended to April 24, 2022. Both loans allow Infusion to convert the principal and accrued interest into shares at conversion prices of $0.07 and $0.08 per share, respectively. The loans' terms are regulated under Canadian securities law, requiring a four-month hold period.

Sproutly Canada announced on April 22, 2021, the execution of a Fourth Supplemental Indenture pertaining to its convertible debentures. The agreement extends the maturity date of outstanding debentures worth $2,000,000 from April 24, 2021, to April 24, 2022. The convertible debentures were initially convertible at $0.75 per common share, later adjusted to $0.105, and then to $0.06 per share. The company aims to be a leader in the cannabis beverage and edibles market by providing unique ingredients and customized formulations.

Sproutly Canada has finalized a definitive agreement with CannaHive Inc. to produce Cannabis 2.0 products at its subsidiary, Toronto Herbal Remedies. This agreement allows Sproutly to utilize CannaHive's proprietary equipment for manufacturing cannabis-infused confectionaries and dissolvable powders. The CEO emphasizes the commitment to produce high-quality, differentiated edible products for the Canadian market. This collaboration aims to enhance product offerings, leveraging CannaHive's experience in pharma-grade edible products while aiming for competitive pricing in the consumer market.

Sproutly Canada has successfully closed the first tranche of a financing round, securing $552,500 from the issuance of 11,050,000 units at $0.05 each. Each unit comprises one common share and one warrant, allowing for the purchase of additional shares at $0.07 over two years. The funds will be used for working capital, and the placement awaits approval from the Canadian Securities Exchange. Additionally, the company paid $24,862.50 in finder's fees through unit issuance. Sproutly aims to lead in cannabis beverage ingredients.

Sproutly Canada has updated its partnership with CannaHive Inc. through a revised Letter of Intent, broadening their agreement beyond cannabis dissolvable powder to include the production of cannabis-infused confectionaries at Toronto Herbal Remedies' licensed facility. This expansion aims to maximize production capabilities for quality infused products in the Canadian market. Both companies expressed optimism about leveraging their technologies, anticipating enhanced customer experiences and increased market presence.

Sproutly Canada reported significant developments in its Q3 financial results ending November 30, 2020. The company received its Cannabis 2.0 sales license, enabling it to produce edible and beverage products using its unique APP technology. Highlights include a cannabis supply agreement with Ontario, enabling the sale of CALIBER products, and amendments to convertible debentures reducing the conversion price to $0.06. Additionally, Sproutly settled payroll debts through issuance of common shares, positioning itself for future growth in the cannabis market.

Sproutly Canada (CSE: SPR, OTCQB: SRUTF) has signed a Letter of Intent (LOI) with CannaHive Inc. to enhance its Cannabis 2.0 product lineup through its subsidiary, Toronto Herbal Remedies (THR). The partnership will utilize CannaHive’s manufacturing technology to produce cannabis dissolvable powder at THR’s licensed facility. Following a similar LOI with Cannabis Manufacturer’s Guild, this collaboration aims to optimize branding, commercialization, and distribution across Canadian provinces.

Sproutly Canada (CSE: SPR) (OTCQB: SRUTF) has signed a Letter of Intent with Cannabis Manufacturer’s Guild Ltd. to enhance its product offerings in the cannabis market. The collaboration will enable Sproutly to utilize CMG's branded products through its subsidiary, Toronto Herbal Remedies Inc., focusing on flower and Cannabis 2.0 products. This strategic partnership aims to increase revenue and improve service to underserved market segments. The launch of new products is expected by the end of Q1 2021, expanding Sproutly's portfolio.