BevCanna Enterprises (CSE: BEV) (OTCQB: BVNNF) (FSE: 7BC), an innovative health and wellness beverages and products company, has released a shareholder letter from BevCanna CEO Marcello Leone and CFO John Campbell. Highlights of the report included an update on the status of the company’s temporary cease trading position, with the letter observing that “increased complexity of valuing the company’s holdings delayed the completion of its annual financial statements, accompanying management’s discussion and analysis and required certifications”; the company anticipates filing required documents in the next 30 days and expects shares to resume trading on all currently listed exchanges after those documents have been filed. Other highlights outlined in the letter include BevCanna’s completion of the acquisition of Embark Health Inc., which also resulted Marcus “Bubbleman” Richardson, creator of Bubble Hash, and Bruce Dawson-Scully, founder of Entourage Health, joining the BevCanna team. The company also completed a corporate reorganization that included the transfer its Health Canada standard processing license from BevCanna Enterprises Inc. to BevCanna Operating Corp. The letter noted that the company is working to accelerate growth through the development and distribution of its Keef brand as well as strategic white-label client portfolio management and increased production output and supply chain economics. The letter also mentioned that the company has overhauled its quality management system, installed and initiated production on new glass bottling line, launched five brands and 11 SKUs, completed its first Health Canada audit and increased capacity by more than 70% by implementing a twinned canning line, among other key achievements. “Over the past year, BevCanna has made great strides in its strategic evolution into a leading diversified health and wellness company,” the shareholder letter stated. “Transformative acquisitions have allowed us to expand our presence in a number of wellness categories, and we’ve developed a robust portfolio of wellness and cannabinoid beverages and consumer packaged goods for both in-house brands and white label clients. One of BevCanna’s primary focuses in 2022 has been to significantly expand its total addressable market, leveraging the company’s industry-leading international brands and extensive distribution system across its cannabis and CPG categories. BevCanna continues to concentrate on securing incremental customers and contracts while building new revenue streams through house brands, white-label, licensing and a strong direct-to-consumer e-commerce platform.”
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About BevCanna Enterprises Inc.
BevCanna Enterprises is a diversified health and wellness beverage and natural products company. BevCanna develops and manufactures a range of alkaline, plant-based and cannabinoid beverages and supplements for both in-house brands and white-label clients. Based in British Columbia, BevCanna owns a pristine alkaline spring water aquifer and a high-capacity, 40,000-square-foot, Health Canada and HACCP-certified flexible manufacturing facility in British Columbia. BevCanna’s extensive distribution network includes more than 3,000 points of traditional and regulated retail distribution and online through its market-leading TRACE brand, its Pure Therapy natural health and wellness e-commerce platform, its fully licensed Canadian cannabis manufacturing and distribution network, and a partnership with number-one U.S. cannabis beverage company Keef Brands. For more information about the company, please visit www.BevCanna.com.
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