Increases revenues by greater than 1000 per cent over the comparable quarter of 2020

VANCOUVER, British Columbia–(BUSINESS WIRE)–BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC) (“BevCanna” or the “Company”), an rising chief in progressive well being and wellness drinks and merchandise, at the moment reported its unaudited monetary outcomes for the quarter ended September 30, 2021.

Third Quarter Company Highlights (All Amounts Reported in $CAD; Unaudited; ready in accordance with International Financial Reporting Standards)

  • Delivered income progress of over 1,000 per cent to $1.1 million throughout the quarter ended September 30, 2021, in comparison with $94,000 comparable quarter of 2020
  • Gross Profit of $356,168 throughout the quarter ended September 30, 2021, in comparison with a lack of $40,280 comparable quarter of 2020
  • Cash as of September 30, 2021, of $655,563 in comparison with $1.zero million as of December 31, 2020
  • Announced a definitive settlement to accumulate Embark Health Inc. (“Embark”), a pacesetter in solventless hashish extraction and enhanced supply know-how, with a concentrate on the formulation and manufacturing of superior hashish 2.zero merchandise for the B2B, medical and adult-use markets
  • Obtained product listings and buy orders from British Columbia Liquor Distribution Branch (BCLDB), Alberta Gaming and Liquor Commission and Ontario Cannabis Store, and efficiently shipped product to British Columbia and Ontario. Subsequent to quarter finish, the preliminary cargo of the award-winning Keef Brands line of cannabis-infused drinks to the BCLDB offered out on-line
  • Announced a definitive settlement with The Tinley Beverage Company Inc. (CSE:TNY, OTCQX:TNYBF) to co-manufacture its award-winning cannabis-infused drinks for the Canadian market
  • BevCanna’s Naturo Group introduced a provide settlement with B.C. Ministry of Forests to provide B.C. firefighters with customized limited-edition TRACE alkaline waters
  • Announced that its market-leading TRACE line of pure alkaline spring waters would be the official Water Supplier of the Canadian E-Prix/2022 Vancouver E-Prix occasion, together with the extremely anticipated Formula E electrical automobile race, a part of the ABB FIA Formula E World Championship series

Recent Highlights (Subsequent to Quarter End)

  • On October 5, 2021, BevCanna’s Naturo Group introduced that it has finalized an settlement with main North American wholesaler distributor United Natural Foods, Inc. (UNFI). UNFI Canada will now distribute BevCanna’s TRACE line of merchandise to retailers throughout Canada. The UNFI settlement represents a big milestone for BevCanna. UNFI Canada is a subsidiary of UNFI, the biggest publicly traded wholesale distributor in North America
  • On October 7, 2021, BevCanna introduced that it has entered right into a white-label settlement with Xebra Brands Ltd., a rising participant within the world hashish beverage sector
  • On October 14, 2021, the Company introduced that it has entered into an settlement to fabricate and distribute white-label hashish drinks for Averi Health Products (“Averi”). Averi is a brand new grownup various beverage firm based by Terry Donnelly, former CEO of the award-winning Hill Street Beverage Co.
  • On October 21, 2021, BevCanna introduced that it has been granted an modification to its Health Canada-authorized Cannabis Research License, to incorporate sensory evaluations of hashish drinks in its product improvement trials. This replace to the License will permit BevCanna to conduct on-site human assessments of the style, scent, really feel and visible attraction of its merchandise in improvement, opening important alternatives within the formulation and refinement of BevCanna’s merchandise and people of its white-label shoppers

Management Commentary

“As we closed out the third quarter, we delivered impressive revenue growth of more than 1,000 per cent, achieving $1.1 million in sales, compared to $94,000 in the year ago quarter,” commented John Campbell, Chief Financial Officer of BevCanna. “Our third quarter results are further evidence of the Company’s continued execution and the impact that our brands are having on the market.

“Our unique and diverse portfolio continues to expand, and with the impending close of our acquisition of Embark, will include an even wider range of adult-use and wellness channels and innovative product categories,” continued Mr. Campbell. “We look forward to welcoming Embark and its team and remain laser-focused on our go-forward organic growth, while continuing to pursue complementary acquisitions, with the goal of further diversifying our brand offerings in the health and wellness categories.”

The unaudited consolidated monetary statements and Management Discussion and Analysis for the quarter ended September 30, 2021, can be found at www.sedar.com.

AGM Results: shareholders accepted all issues thought-about on the Company’s Annual General and Special Meeting of Shareholders (“AGM”) held November 24, 2021.

Voting Results

Full particulars of the issues that had been voted on on the AGM of Company shareholders held on November 24, 2021, are set out within the Company’s Management Information Circular dated October 25, 2021, which is obtainable on SEDAR.

1. Election of Directors

The following individuals had been elected to function administrators of the Company, with the result of votes being as follows:

Nominee

 

 

% of Votes for

 

% of Votes Withheld

 

Marcello Leone

 

 

97.7%

 

2.3%

 

John Campbell

 

 

97.8%

 

2.3%

 

Martino Ciambrelli

 

 

97.7%

 

2.3%

 

Phil Fontaine

 

 

30.1%

 

69.9%

 

William Macdonald

 

 

98.53%

 

1.47%

 

Howard Blank

 

 

98.46%

 

1.54%

 

Douglas Mason

 

 

98.52%

 

1.48%

2. Appointment of Auditor

Dale Matheson Carr-Hilton Labonte LLP (DMCL) has been re-appointed because the auditor of the Company for the following 12 months and the Director had been licensed to repair the renumeration.

% Of Votes for

 

% of Votes Withheld

98.34%

 

1.66%

3. Amendment to Articles

The Company’s shareholders additionally accepted an modification to the Company’s articles to create a brand new class of most well-liked shares issuable in collection as extra significantly described within the Management Information Circular.

About BevCanna Enterprises Inc.

BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC) is a diversified well being & wellness beverage and pure merchandise firm. BevCanna develops and manufactures a variety of alkaline, plant-based, and cannabinoid drinks and dietary supplements for each in-house manufacturers and white-label shoppers. With many years of expertise creating, manufacturing, and distributing iconic manufacturers that resonate with shoppers on a worldwide scale, the workforce demonstrates an experience unmatched within the nutraceutical and cannabis-infused beverage classes.

Based in British Columbia, Canada, BevCanna owns a pristine alkaline spring water aquifer and a world–class 40,000–sq.–foot, HACCP licensed manufacturing facility, with a bottling capability of as much as 210M bottles yearly. BevCanna’s in depth distribution community consists of greater than 3,000 factors of retail distribution by its market-leading TRACE model, its Pure Therapy pure well being and wellness e-commerce platform, its absolutely licensed Canadian hashish manufacturing and distribution community, and a partnership with #1 U.S. hashish beverage firm Keef Brands.

Forward-Looking Disclaimer

This information launch accommodates forward-looking statements. All statements, apart from statements of historic indisputable fact that tackle actions, occasions, or developments that the Company believes, expects, or anticipates will or could happen sooner or later are forward-looking statements. Forward-looking statements on this information launch embrace statements relating to: the potential synergies between the enterprise of BevCanna and Embark and the enterprise of the Company following the closing of the acquisition of Embark; forecasted revenues of the Company within the fourth quarter of 2021 and for the monetary 12 months ended December 31, 2022; future product choices; the potential advantages of varied industrial agreements and partnerships; and different statements relating to the enterprise of the Company. The forward-looking statements mirror administration’s present expectations based mostly on data presently accessible and are topic to a lot of dangers and uncertainties which will trigger outcomes to vary materially from these mentioned within the forward-looking statements.

Although the Company believes that the assumptions inherent within the forward-looking statements are affordable, forward-looking statements usually are not ensures of future efficiency and, accordingly, undue reliance shouldn’t be placed on such statements as a result of their inherent uncertainty. Factors that might trigger precise outcomes or occasions to vary materially from present expectations embrace, amongst different issues: that the CSE could not approve the acquisition of Embark as proposed or in any respect; that the events could not be capable to fulfill the circumstances to closing of the acquisition of Embark; normal market circumstances; dangers related to the COVID-19 pandemic; and different elements past the management of the events. BevCanna expressly disclaims any intention or obligation to replace or revise any forward-looking statements whether or not because of new data, future occasions or in any other case, besides as required by relevant regulation, and the Company doesn’t assume any legal responsibility for disclosure referring to some other firm talked about herein.

Contacts

On behalf of the Board of Directors:
John Campbell, Chief Financial Officer and Chief Strategy Officer

Director, BevCanna Enterprises Inc.

For investor enquiries, please contact:
Shannon Devine, MZ North America

203-741-8811

BVNNF@mzgroup.us

For media enquiries or interviews, please contact:
Wynn Theriault, Thirty Dash Communications Inc.

416-710-3370

wynn@thirtydash.ca

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