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Company partners with Olli Brands Inc. to develop and curate a suite of premium CBD and THC soft chew products for release in its medical channel starting late November 2021
TORONTO, Nov. 29, 2021 (GLOBE NEWSWIRE) -- Entourage Health Corp. (formerly WeedMD Inc.) (TSX-V:ENTG) (OTCQX:ETRGF) (FSE:4WE) (“Entourage” or the “Company”), a Canadian producer and distributor of award-winning cannabis products and brands, is pleased to announce it has entered into a commercial arrangement with Olli Brands Inc. ("OBi”) to produce a suite of cannabis soft chews for sale under the Company’s Starseed Medicinal brand. Product availability is expected to commence on November 30, 2021.
The edible cannabis products will be available in CBD, THC and 1:1 soft chews for exclusive, initial release in two-unit packages, via Entourage’s medical channel, Starseed Medicinal in the following flavours: strawberry-elderberry, pineapple-tangerine, and lemon-lime.
“Following patient and consumer insights and feedback, our product development team set out to produce choice, cannabis ingestibles, partnering with renowned edibles producer Olli Brands to develop flavours and formulations that effectively complement our well-established product portfolio,” said Joseph Mele, Chief Commercial Officer, Entourage. “Recognizing our strength as cultivators with a specialty in cannabinoid extraction, we’re excited to announce the product expansion and launch of our cannabis infused-soft chews lineup specifically formulated for patients looking for alternate dosing and consumption methods.”
Entourage recently completed R&D trials alongside OBi, producing multiple product formulations that yielded strong and favourable results which could provide additional product expansion opportunities. Obi is a highly skilled, third-party, white-label processor widely recognized in Canada for consistently and safely producing premium edible cannabis products. OBi operates from its sophisticated manufacturing facility in Etobicoke, Ontario.
Third-party data suggests the Canadian market for cannabis extract-based products including edibles to be worth C$1.6 billion annually, with over 65% of Canadians consuming or interested in consuming edibles. Gummies and soft chews are listed as the preferred edible format. (Reference: Nurturing New Growth; Canada Gets Ready for Cannabis 2.0, Deloitte).
About Entourage Health Corp.
Entourage Health Corp. (formerly WeedMD Inc.) is the publicly traded parent company of WeedMD RX Inc. and CannTx Life Sciences Inc., licence holders producing and distributing cannabis products for both the medical and adult-use markets. The Company owns and operates a 158-acre state-of-the-art greenhouse, outdoor and processing facility located in Strathroy, ON as well as a fully licensed 26,000 sq. ft. Aylmer, ON processing facility, specializing in cannabis extraction. With the addition of Starseed Medicinal, a medical-centric brand, Entourage has expanded its multi-channeled distribution strategy. Starseed’s industry-first, exclusive partnership with LiUNA, the largest construction union in Canada, along with employers and union groups complements Entourage’s direct sales to medical patients. In October 2021, Entourage closed the acquisition of craft cultivator CannTx Life Sciences Inc. which operates out of its state-of-the-art micropropagation and specialty extraction facility in Guelph, Ontario. Craft brand Royal City Cannabis was added to Entourage’s elite product portfolio that includes adult-use brands Color Cannabis and Saturday Cannabis – sold across eight provincial distribution agencies. The Company also maintains strategic relationships in the seniors’ market and supply agreements with Shoppers Drug Mart. It is the exclusive Canadian producer and distributor of award-winning U.S.-based wellness brand Mary’s Medicinals sold in both medical and adult-use channels. Entourage recently announced an exclusive collaboration with The Boston Beer Company subsidiary to launch cannabis-infused beverages in Canada.
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Forward Looking Information This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation which are based upon Entourage's current internal expectations, estimates, projections, assumptions and beliefs and views of future events. Forward-looking information can be identified by the use of forward-looking terminology such as "expect", "likely", "may", "will", "should", "intend", "anticipate", "potential", "proposed", "estimate" and other similar words, including negative and grammatical variations thereof, or statements that certain events or conditions "may", "would" or "will" happen, or by discussions of strategy. Forward-looking information in this press release includes, but is not limited to, information in respect of the manufacture and distribution of cannabis-infused beverages pursuant to the development, supply, manufacturing, sales and marketing agreements entered into by the Company and the prospects thereof.
The forward-looking information in this news release is based upon the expectations, estimates, projections, assumptions and views of future events which management believes to be reasonable in the circumstances. Forward-looking information includes estimates, plans, expectations, opinions, forecasts, projections, targets, guidance or other statements that are not statements of fact. Forward-looking information necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; loss of markets; future legislative and regulatory developments; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the cannabis industry in Canada generally; the ability of Entourage to implement its business strategies; the COVID-19 pandemic; competition; crop failure; and other risks.
Any forward-looking information speaks only as of the date on which it is made, and, except as required by law, Entourage does not undertake any obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for Entourage to predict all such factors. When considering this forward-looking information, readers should keep in mind the risk factors and other cautionary statements in Entourage’s disclosure documents filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in the disclosure documents could cause actual events or results to differ materially from those described in any forward-looking information.
Third Party Information This press release includes market and industry data that has been obtained from third party sources, including industry publications. The Company believes that the industry data is accurate and that its estimates and assumptions are reasonable, but there is no assurance as to the accuracy or completeness of this data. Third party sources generally state that the information contained therein has been obtained from sources believed to be reliable, but there is no assurance as to the accuracy or completeness of included information. Although the data is believed to be reliable, the Company has not independently verified any of the data from third party sources referred to in this press release or ascertained the underlying economic assumptions relied upon by such sources
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