BevCanna Addresses Progress on Health Canada Normal Processing Licence Issuance

VANCOUVER, British Columbia–(Company WIRE)–Emerging chief in infused hashish drinks, BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC) (“BevCanna” or the “Firm”) confirmed nowadays that its software for a Regular Processing Licence (SPL) is in the closing stages of the in-depth evaluate with Overall health Canada.

BevCanna is delighted to supply the pursuing commentary to deliver further clarity and certainty with regard to the timing of the predicted receipt of its Overall health Canada-issued Typical Processing License. BevCanna verified that Health and fitness Canada is in the remaining phases of the in-depth review and the Firm expects receipt soon. The Business submitted its official responses to Wellness Canada’s Ask for for More Information (RMI) on January 12, 2021, and gained affirmation of receipt from the Wellness Canada Assigned Reviewer on January 13, 2021. Health Canada verified that even though BevCanna has seasoned a brief hold off in Licence processing, ultimate conversations in relation to the issuance of the Conventional Processing Licence are now approaching completion.

The software is anticipated to advance to Health and fitness Canada’s Management Critique Board for last sign-off and the Licence to be issued imminently. After granted, BevCanna will be totally licensed to start off creation of hashish-infused solutions at its reducing-edge large-capability beverage producing facility in Osoyoos, B.C., and will start production of its white-label goods. Commercialization of its in-property manufacturers via licensed Canadian vendors will commence in the to start with quarter.

“We’ve very pleased that our Normal Processing Licence software is on keep track of for imminent acceptance,” stated Marcello Leone, CEO of BevCanna. “Receipt of our SPL is an important milestone for our Canadian creation and distribution approach. Generating and distributing large-good quality cannabis-infused drinks in Canada, for the two our in-residence manufacturers and our white-label clientele, is a vital pillar in our evolution into an all-encompassing well being and wellness items business. We’re excited to choose this up coming step.”

BevCanna’s landmark acquisition of Naturo Team Investments Inc., which includes $37M+ in assets, which is envisioned to near in February 2021, the Company’s Pure Remedy e-commerce platform and BevCanna’s strategic North American distribution partnership with U.S.-dependent Keef Models form the other 3 pillars of the Company’s transformative strategy.

BevCanna will soon believe the exceptional posture of being the only entirely accredited, in-home and white-label beverage producing enterprise that distributes both typical and hashish-based beverage and wellness solutions by way of world-wide, multi-channel distribution networks of traditional and cannabis product sales channels. The Enterprise is actively engaged in negotiations to finalize definitive agreements with a quantity of new white-label purchasers and formalize distribution interactions with provincial distributors, while also focusing on commercial readiness for the Q1 and Q2 Canadian launches of their in-household brand names, white-label solutions and Keef-branded merchandise strains.

About BevCanna Enterprises Inc.

BevCanna Enterprises Inc. (CSE:BEV, OTCQB:BVNNF, FSE:7BC) develops and manufactures cannabis–infused beverages and shopper products and solutions for in–house brand names and white label clientele. With decades of encounter building, branding and distributing iconic makes that have resonated with buyers on a worldwide scale, the team demonstrates an experience unmatched in the rising cannabis beverage classification. Centered in British Columbia, Canada, BevCanna owns the special legal rights to a pristine spring water aquifer, access to a world–class 40,000–square–foot, HACCP accredited manufacturing facility, with a existing bottling potential of up to 210M bottles per annum. BevCanna also recently acquired US organic wellness and wellness e-commerce system Pure Therapy. BevCanna’s eyesight is to be a worldwide chief in infused improvements.

On behalf of the Board of Directors:

John Campbell, Chief Money Officer and Main Approach Officer

Director, BevCanna Enterprises Inc.

Forward-Hunting Facts

This information release may perhaps incorporate ahead-on the lookout information and facts in just the meaning of Canadian securities laws, regarding the business enterprise of the Enterprise. Forward-hunting information is dependent on sure essential expectations and assumptions built by the administration of the Company, including the statements regarding: its software for a Normal Processing Licence, which include the anticipated receipt and timing thereof that at the time the licence is granted, BevCanna will be absolutely licensed to commence manufacturing of hashish-infused merchandise at its business leading substantial-capacity beverage production facility and will get started creation for its white-label purchasers and commercialization of its in-house manufacturers as a result of accredited Canadian vendors in the initially quarter the expected February 2021 near of BevCanna’s landmark acquisition of Naturo Team Investments Inc., like $37M+ in property that BevCanna is in negotiations to finalize definitive agreements with a range of new white-label clients and formalizing distribution associations with provincial distributors, although also focusing on professional readiness for the Q1 and Q2 Canadian launches of their in-dwelling brand names, white-label products and solutions and Keef-branded solution strains and other statements pertaining to the enterprise ideas of the Company.

Forward-wanting statements are based on certain assumptions concerning the issuances of licenses by Wellness Canada to the Business underneath the Cannabis Act upcoming beneficial legislative, tax and regulatory developments with respect to hashish a continued substantial regulatory barrier entry for cannabis-infused drinks profitable and timely commercialization of the company’s products effective and well timed negotiation of different agreements the closing of the Company’s formerly announced acquisition of Naturo Group Investments Inc. and anticipations with regard to the foreseeable future expansion of recreational hashish products and solutions. Although the Organization considers these assumptions to be sensible, centered on facts at the moment accessible, they could confirm to be incorrect. Readers are cautioned not to place undue reliance on ahead-on the lookout statements. The assumptions of the Enterprise, despite the fact that considered realistic by it at the time of planning, could confirm to be incorrect. In addition, forward-searching statements always require regarded and unfamiliar threats, such as, without the need of limitation, the Enterprise not currently being issued licences by Wellness Canada that the functions could not be in a position to fulfill the circumstances to closing of the acquisition of Naturo, which includes acceptance by the shareholders of one particular or both of those functions, as relevant pitfalls involved with typical financial problems challenges associated with weather and agriculture changes in buyer tastes adverse market functions potential legislative, tax and regulatory developments incapability to entry sufficient money from inside and external sources, and/or lack of ability to access sufficient money on favourable terms the lack of ability to carry out enterprise procedures opposition forex and fascination amount fluctuations and other threats. Audience are cautioned that the foregoing listing is not exhaustive. Audience are further more cautioned not to put undue reliance on ahead-seeking statements as there can be no assurance that the ideas, intentions or anticipations upon which they are put will occur. This sort of details, although regarded acceptable by management at the time of planning, may well confirm to be incorrect and precise benefits might vary materially from people expected. For much more information on the threat, uncertainties and assumptions that could lead to expected alternatives and genuine effects to differ materially, remember to refer to the general public filings of the Firm which are obtainable on SEDAR at Forward-looking statements contained in this news release are expressly skilled by this cautionary assertion and mirror our anticipations as of the date hereof, and so are issue to modify thereafter. The Firm disclaims any intention or obligation to update or revise any forward-searching statements, regardless of whether as a end result of new info, foreseeable future functions or or else, except as required by law, and the Corporation does not assume any legal responsibility for disclosure relating to any other corporation outlined herein.