Signed agreements to distribute JWC products in British Columbia, Saskatchewan, and New Brunswick
Launch of Old School Black Hash, with new flower strains and additional products in 2021
TORONTO, ON / ACCESSWIRE / November 20, 2020 / Trichome Financial Corp. (the "Company" or "Trichome Financial") (CSE:TFC) is pleased to provide an update regarding key developments at Trichome JWC Acquisition Corp. ("TJAC" or "JWC") that position it for commercial success for the balance of 2020 and into 2021.
"The changes implemented at JWC have been transformative with demonstrable results in facility productivity, commercial strategy, cost management and organizational behavior. With new supply agreements in BC, Saskatchewan, and New Brunswick, JWC is now able to service customers in five provinces with an additional four provinces expected to be added over the next several months. We have repositioned our dried flower, pre-roll and concentrate portfolio to allow JWC to deliver against customer needs and offer consumers exceptional value for their dollar. This is supported by product improvements and proprietary market analysis. Since implementing these changes we have seen a significant increase in our rate of sales in Ontario. Our Old School Black Hash is now available in Saskatchewan and New Brunswick, and will be offered to consumers in Ontario and BC in December. Given our success to date at JWC, our talented and committed people, cash balance in excess of $5mm and loan portfolio in run-off, we are aggressively pursuing complimentary and accretive M&A opportunities to add to our operating platform," said Michael Ruscetta, Chief Executive Officer of Trichome Financial.
Key JWC Commercial Developments
- In addition to Ontario and PEI, JWC has signed new provincial distribution agreements with the British Columbia Liquor Distribution Branch, Open Fields in Saskatchewan and Cannabis New Brunswick, with listings of flower, pre-rolls, hash and kief.
- Expect to enter distribution agreements with Alberta and Manitoba by the end of January 2021.
- Entered into agreement with Green Hedge as JWC's route to market partner, providing ‘boots on the ground' sales support with retailers.
- Launched JWC Old School Black Hash in New Brunswick and Saskatchewan, with availability in Ontario and British Columbia anticipated in December. New hash SKUs will be launched in the New Year with the goal of becoming a dominant player in this highly attractive segment.
- Expect to launch four new award-winning flower strains in Q1 2021, many of which are unique in Canada, have very high THC levels, and have varying flavour and terpene profiles.
- With our repositioned product portfolio and a strategy to always over-deliver on consumer expectations, the JWC brand will be relaunched in early 2021. All work done on the branding and repositioning of the portfolio has been informed by proprietary expertise, extensive industry mapping, and data-driven analysis.
About Trichome Financial Corp.
Trichome Financial is a specialty finance company focused on providing flexible and creative capital solutions to the global legal cannabis market. Trichome was created to address the lack of credit availability in the large, growing and increasingly complex cannabis market. Trichome Financial's experienced founders and management team have a unique edge to capitalize on proprietary deal flow and industry insight in order to drive the best risk-adjusted returns on shareholder's capital. With the recent acquisition of the assets of James E. Wagner Cultivation Corp., Trichome Financial is focused on acquiring related assets to compliment JWC and leverage the knowledge, expertise and insights of its employees, management and founders.
For further information about Trichome Financial please visit us at www.trichomefinancial.com or @trichomefinance on Twitter and refer to the joint information circular of Trichome Financial and 22 Capital dated May 29, 2019 which is available on the Company's SEDAR profile at www.sedar.com.
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate to, among other things: securing new listings with provincial distributors, the launch of new genetics, and the prospect of JWC as a platform for consolidation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the 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, competitive, political and social uncertainties; and the delay or failure to receive board, shareholder or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, Trichome Financial assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to United States Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Michael Ruscetta, CEO
Telephone: (416) 467-5229
Email: [email protected]
Marc Charbin, Investor Relations
Telephone: (416) 467-5229
Email: [email protected]
SOURCE: Trichome Financial Corp.