KITCHENER, Ontario, Nov. 20, 2019 (GLOBE NEWSWIRE) — James E. Wagner Cultivation Corporation (“JWC” or the “Corporation”) (TSX VENTURE: JWCA; OTCQX: JWCAF), is pleased to announce that it has entered into a brokerage agreement (the “Agreement”) with Kindred Partners Inc. (“Kindred”), under which Kindred will serve as the exclusive broker for JWC’s adult use cannabis products in Canada. Kindred is a specialty brokerage and services company for cannabis products.
Kindred is a wholly owned subsidiary of Breakthru Beverage Group, LLC and has deep roots and experience in effectively managing distribution agreements in highly regulated industries. Kindred operates separately from its sister company, alcohol beverage brokerage Breakthru Beverage Canada, while leveraging related knowledge and expertise in working with Canadian Provincial control boards, licensed distributors and retailers. The collaboration will allow for Kindred to use its national presence to market the JWC brand throughout Canada, while offering industry intelligence and insights to better serve and supply the adult-use market.
“At JWC, our passion is our purpose. Our company values are reflective of a strong family culture,” said Nathan Woodworth, CEO of James E. Wagner Cultivation Ltd. “I’m looking forward to collaborating with Kindred. It was important for us to find a company that shares similar values, including a sense of authenticity, a responsible culture and a commitment to customers. I’m excited about the prospect of realizing our goal to expand our business across Canada.”
The Agreement is an important step for JWC in its preparations for entering the recreational cannabis markets in Canada in the coming weeks. Kindred provides a workforce with extensive experience of operating in a competitive consumer packaged goods environment.
“We’re excited to serve as the exclusive brokerage partner for James E. Wagner Cultivation Ltd. and their innovative aeroponic products across the Canadian market,” said David Prodanovic, VP, General Manager of Kindred Partners. “As the market continues to evolve, we intend to leverage our well-established business model to meet JWC’s brand goals.”
The Agreement also covers JWC’s derivative line of cannabis extract products currently under development and expected to come to market in the first calendar quarter of 2020. JWC will continue to market and sell cannabis products to its medical patients as well as directly to other licensed producers, which is outside the scope of the Agreement.
About James E. Wagner Cultivation Corporation
JWC’s wholly owned subsidiary is a Licensed Producer under the Cannabis Regulations, formerly the Access to Cannabis for Medical Purposes Regulations (“ACMPR”). JWC is a premium cannabis brand, focusing on producing clean, consistent cannabis. JWC uses an advanced and proprietary Dual Droplet™ aeroponic platform named GrowthSTORM™. JWC was founded as a family company and is based on family values. JWC began as a collective of patients and growers under the Marihuana Medical Access Regulations (the precursor to ACMPR). Since its inception, JWC has remained focused on providing the best possible patient experience. JWC’s operations are based in Kitchener, Ontario. Learn more at www.jwc.ca.
About Kindred Partners Inc.
Kindred Partners Inc. is a wholly owned Canadian subsidiary of Breakthru Beverage Group representing cannabis products to the Canadian recreational market. This dedicated cannabis sales brokerage business operates independently from its sister company, Breakthru Beverage Canada, a leading Canadian beverage alcohol broker. For more information, please visit www.kindredcanada.ca.
About Breakthru Beverage Group
Breakthru Beverage Group is one of the leading alcohol wholesalers in the United States and the largest broker in Canada representing a full total alcohol beverage portfolio of spirits, wine and beer. Across its North American footprint, Breakthru employs more than 7,000 associates who align a nimble and insightful approach to sales, marketing and operations. Family ownership is active in the business and committed to being stewards of heritage and champions of innovation. For more information, visit www.BreakthruBev.com.
Notice regarding forward-looking statements:
This press release contains statements including forward-looking information for purposes of applicable securities laws (“forward-looking statements”) about JWC and its business and operations which include, among other things, statements regarding the current and future anticipated sale of products by JWC and Kindred, maintenance of an ongoing supply and sale relationship with Kindred, anticipated continuing expansion of JWC’s distribution networks, continuing expansion of production by JWC, the launch of JWC’s derivative line of cannabis products, the use of Kindred’s national presence to market JWC’s products and continuing growth of JWC’s product lines. The forward-looking statements can be identified by the use of such words as “will”, “expected”, “approximately”, “may”, “could”, “would” or similar words and phrases. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results to differ materially from those implied in the forward-looking statements. For example, risks include risks regarding the ability of Kindred to achieve the results and scope of brand expansion anticipated by JWC, Kindred’s commitment of sufficient resources to JWC’s product lines, the cannabis industry, economic factors, the equity markets generally, building permit related risks and risks associated with growth and competition as well as the risks identified in the Corporation’s Filing Statement available under the Corporation’s profile at www.sedar.com. Although JWC has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release and are based on current assumptions which management believes to be reasonable. The Corporation disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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