MPX International Introduces Canadian Retail Brand, Strain Rec™ to be Used by Its Wholly-Owned Subsidiary, Canveda Inc., a Licence Holder Under the Cannabis Act (Canada)
Announces First Shipments to Saskatchewan
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TORONTO, Aug. 05, 2020 (GLOBE NEWSWIRE) -- MPX International Corporation (“MPX International”, “MPXI” or the “Corporation”) (CSE:MPXI; OTCQX:MPXOF), a multinational diversified cannabis company, is pleased to announce the launch of its Canadian recreational brand, Strain Rec ™ by its wholly-owned subsidiary Canveda Inc. (“Canveda”) with initial shipments made to the Province of Saskatchewan. For additional information on Strain Rec ™ visit the website www.strainrec.ca.
“Canveda has introduced its unique Canadian recreational brand Strain Rec ™. Brand recognition is pivotal to success in the marketplace and we are pleased to have been able to develop a brand concept which will be representative of the recreational market,” said Michael Arnkvarn, Chief Operating Officer, Canada of MPXI. “We received positive initial feedback on our first shipment and have since followed up with a second shipment which was sent to the distributor in July.”
The initial Strain Rec ™ offering by Canveda consists purely of flower and was introduced to eight (8) Saskatchewan retailers during the last week of June by its Saskatchewan-approved distributor.
“This is our initial salvo into the Canadian recreational marketplace and we believe that we are in a strong position to succeed. The adult use market demands differentiated products that contain high THC levels and our Canveda facility is able to offer unique strains that meet that demand,” noted W. Scott Boyes, Chairman, President and CEO of MPX International. “Saskatchewan is a relatively small market with only a little over 50 stores, making this province a great place for MPXI to test the waters. As we expand our offerings to include extracts, topicals and edibles, the revenues generated by the recreational market will become an integral component of MPXI’s Canadian growth strategy.”
MPXI is also developing distribution channels for the Strain Rec™ brand with additional provincial cannabis marketing boards and will inform its shareholders of these developments in due course.
About MPX International Corporation
MPX International Corporation is a multinational diversified cannabis company focused on developing and operating assets across the global cannabis industry with an emphasis on cultivating, manufacturing and marketing products which include cannabinoids as their primary active ingredient.
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, MPX International’s objectives and intentions. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic and social uncertainties; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; delay or failure to receive board, shareholder or regulatory approvals; those additional risks set out in MPX International’s public documents filed on SEDAR at www.sedar.com, including its audited annual consolidated financial statements for the financial years ended September 30, 2019 and 2018 and the corresponding annual management’s discussion and analysis; and other matters discussed in this news release. Although MPX International believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, MPX International disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/45008bc6-0183-4ccb-b79b-f19754d25823
Released August 5, 2020