Gaia Grow TRU Extracts Canadian Cannabis Lab Signs White Label Agreement with Expected Revenue of Up to $ 8,369,000
Vancouver, British Columbia – The press wire – December 21, 2021 – Gaia Grow Corp. (the âCompanyâ or âGaiaâ) (CSE: GAIA) (CNSX: GAIA.CN) (Frankfurt: GG0) is delighted to announce that its wholly owned subsidiary, TruExtracts Laboratories (“TRU”), has signed a 12 month white label agreement with an arm’s length Canadian cannabis producer (“the producer” ) to make around 30,000 pre-rolls of cannabis per day. Production is expected to begin at TRU’s Canadian licensed cannabis extraction facility in January 2022. This agreement has the option of being extended in one-year increments beyond this term.
TRU will be responsible for purchasing and processing biomass in accordance with the processing service orders provided by the producer and will deliver final retail products in accordance with coordinated shipping instructions provided by the producer. The entire production cycle will be purchased by the producer for the 12 month period.
âThis is a big step forward for TruExtracts and Gaia,â said Frederick Pels, CEO of Gaia Grow. âThe pre-roll market share is one of the most important segments of the legalized cannabis market in Canada. It accounts for north of 20% of all products sold in British Columbia and the Prairie provinces with the rest of Canada in their teens. It’s great to see TruExtracts delivering products for this important market with a healthy double digit profit margin. I look forward to educating shareholders as Tru continues to grow and deliver meaningful value to our shareholders. “
For more information, please visit their website at https://truextractslabs.com
About Gaia Grow
Gaia Grow is a vertically integrated, licensed hemp company based in Alberta with licensed subsidiaries for the processing, extraction, product formulation, new product development and retail of cannabis and hemp. For more information about the company, please visit www.GaiaGrow.com
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For more information, please contact:
Frederick Pels, President and CEO
The Canadian Securities Exchange accepts no responsibility for the adequacy or accuracy of this release.
CAUTIONARY AND FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. Forward-looking statements and information are often, but not always, identified by the use of words such as “appear”, “seek”, “anticipate”, “plan”, “continue”, “estimate”, “approximate”, ” »Expect”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “could”, “should”, “believe”, “would” and similar expressions.
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