VANCOUVER, BC / ACCESSWIRE / July 24, 2019 / Experion Holdings Ltd. (“Experion” or the “Company”) (TSXV: EXP) (OTCQB: EXPFF) (FRANKFURT: MB31), formerly Viridium Pacific Group Ltd., today announced its Q2 financials and a corporate update.
Financials
Experion has now filed its Q2 2019 consolidated interim financial statements, and management discussion and analysis for the six months ended May 31, 2019 on SEDAR.
Business Update - Domestic and International Market Development
Domestic Market:
In January 2019, the Company begun to sell clones to newly licensed Standard Cultivators looking for quality genetics to launch their cultivation process. The sales expand Experion’s product line with clones exhibiting the desired specifications and attributes for both the medical and Adult-use market. Under the Cannabis Act, a cultivation license can sell product to other licensed facilities fostering new business to business relationships and the ability to create quick strategic partnerships as the market becomes established. All starting materials sold as clones to other cultivators have a flower buy back program with Experion. As well, Experion can also sell clones for medical purposes to qualified individuals as a licensed medical supplier.
International Market:
In June 2019, Experion signed a non-binding letter of intent (“LOI”) with a Polish import and distribution company to export medical flower products to Poland. Under the executed LOI, Experion will export medical flower products to Poland for scientific purposes enabling the Polish company to test and develop Experion's flower products. After the successful completion of this testing, Experion will export its flower products to Poland for consumer medical use. Experion is currently working towards European Union Good Manufacturing Practice (“GMP”) certification of its Mission facility in British Columbia, which will allow the export of cannabis to the EU for medical consumption. Experion is actively seeking export opportunities in Europe and plans to continue to build its international distribution chain.
Corporate Update
During the current period, Experion continued to strengthen is executive team and appointed Kamini Hitkari to the position of Chief Financial Officer. The Company also hired Judy-Ann Pottinger to provide comprehensive investor relations and corporate communications services.
On June 10, 2019, Experion changed its name from Viridium Pacific Group Ltd. to Experion Holdings Ltd. and changed its trading symbol from “VIR” to “EXP” on the TSXV. A focused brand strategy, under one corporate brand, will bring alignment to the market and our shareholders. It will allow Experion to better communicate its value proposition as management works to unlock value and communicate our accomplishments to the market and stakeholders. On June 19, 2019, the Company began trading on the U.S. listing OTCQB Venture Market under the trading symbol “EXPFF”.
Also, in June 2019, Experion welcomed Joel Dumaresq and Bill Dickie to the Board of Directors; while accepting at the same time the resignations of Sean MacNeil, Michael Kohut and Ben Eastwood. Management is confident that Experion’s Board will bring substantial financial oversight and business advisory experience to help the Company grow and achieve its strategic objectives.
All of the Experion’s developments and announcements above have been published as press releases on Experion’s website at www.experionwellness.com.
About Experion Holdings Ltd.
Experion Holdings Ltd. is the parent company of Experion Biotechnologies Inc., a Health Canada licensed cultivator and processor of Cannabis, based in Mission, BC; and EFX Laboratories Inc., a medical products production and clinical research company based in Calgary, AB.
Experion Holdings Ltd. is invested in a portfolio of products to address a wide spectrum of consumer needs' including Medical, Adult-use, and Wellness and Therapeutic products.
Experion trades on the TSX Venture Exchange as a Tier 1 issuer under the symbol "EXP" and on the OTCQB Venture under the symbol “EXPFF” and on the Frankfurt Exchange under the symbol “MB31”
For further information, please visit the Company’s www.experionwellness.com or contact
Experion Holdings Ltd
Judy-Ann Pottinger, Investor Relations
Tel: (604) 617-5290
[email protected]
We would like to invite all shareholders and or interested parties to follow our progress, in our new Global Investor Forum here: http://connects.company/ExperionEXP
Disclosure
This press release contains forward-looking information within the meaning of Canadian securities laws. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct.
Forward looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, forecast, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking information as a result of various factors, including, but not limited to: the state of the financial markets for the Company's equity securities; recent market volatility; the Company's ability to raise the necessary capital or to be fully able to implement its business strategies; the risks identified in the Filing Statement, and other risks and factors that the Company is unaware of at this time. The reader is referred to the Filing Statement dated September 25, 2017 and/or the most recent annual and interim Management's Discussion and Analysis for a more complete discussion of such risk factors and their potential effects, copies of which may be accessed through the Company page on SEDAR at www.sedar.com.
SOURCE: Experion Holdings Ltd.