J.CN) (LV9.F) (LTTSF) (the "Company" or "Lotus") has finalized the details of its first shipment to Auxly Cannabis Group Inc. (XLY.V), and expects the shipment to be sent out next week. Pursuant to Lotus and Auxly's definitive agreement (the "Agreement") dated September 11, 2018 , Auxly is entitled to purchase the first 50% of Lotus' cultivation at a fixed price, with a right of first offer to purchase the remaining 50% at market prices. Auxly has agreed to purchase 100% of the initial crop and has an ongoing interest in our high-quality flower production." data-reactid="11">VANCOUVER , Nov. 21, 2019 /CNW/ – Lotus Ventures Inc. (CSE:J.CN) (LV9.F) (LTTSF) (the “Organization” or “Lotus“) has finalized the specifics of its initial shipment to Auxly Cannabis Group Inc. (XLY.V), and expects the shipment to be sent out subsequent week. Pursuant to Lotus and Auxly’s definitive agreement (the “Agreement”) dated September 11, 2018 , Auxly is entitled to acquire the initial 50% of Lotus’ cultivation at a fixed value, with a appropriate of initial give to acquire the remaining 50% at marketplace costs. Auxly has agreed to acquire 100% of the initial crop and has an ongoing interest in our higher-high-quality flower production.
Lotus was pleased with its initial batch yielding far more cannabis than initially anticipated, when passing all high-quality manage measures. The Organization grew various strains in its initial batch, optimizing the expanding atmosphere and understanding what strains worked most effective for the existing marketplace demand. Out of the initial batch, a single strain tested at 22.six% THC when the typical amongst the group tested at roughly 19.1% THC. As per marketplace demand, Lotus plans to develop greater THC solutions and anticipates greater THC benefits in future batches now that the expanding atmosphere has been standardized.
As per various sector reports, as properly as internal information, Canadian cannabis customers are at the moment demanding premium dried flower with a higher THC% content material. Our evaluation finds that indoor made craft solutions with a higher THC% have been in a position to either preserve or enhance promoting costs in retail due to the fact legalization, when decrease-to-mid grade solutions have noticed promoting value compression due to the fact legalization. Lotus continues to be focused on exceeding customer expectations as a trustworthy low-price producer of higher-high-quality flower grown from exotic and premium strains.
ON BEHALF OF THE BOARD:
Lotus Ventures Inc.
Dale McClanaghan , President and CEO
J.CN) is an Okanagan-based licensed producer focused on growing exceptional cannabis products for the wholesale and recreational market in Canada . Lotus operates an innovative purpose-built facility with unique proven strains, and an entirely handcrafted production process created by one of the region's most experienced growing teams." data-reactid="35">About Lotus Ventures Inc.
Lotus Ventures Inc. (CSE:J.CN) is an Okanagan-primarily based licensed producer focused on expanding exceptional cannabis solutions for the wholesale and recreational marketplace in Canada . Lotus operates an revolutionary goal-constructed facility with exceptional established strains, and an totally handcrafted production procedure produced by a single of the region’s most seasoned expanding teams.
The facility was developed with a perpetual production cycle harvesting a single of six production rooms each and every two weeks, regularly making higher-finish cannabis at low production charges.
Earlier this year, Lotus Ventures launched its initial customer-focused brand “Lotus Cannabis Co.” targeting discerning customers. The Organization is in the procedure of getting an amended sales licence, which when issued, permits the sale of cannabis to provincial distributors and retail provide chains.
To find out far more, check out https://lotuscannabis.ca/ or adhere to us on Twitter: @lotuscannabisco Facebook: @lotuscanna Instagram: @lotuscannabisco LinkedIn: @lotuscannabisco
Forward Searching Details:
The information and facts contained inside this news release has been ready by Lotus Ventures Inc. Lotus Ventures Inc. is the parent firm for Lotus Cannabis Co., a premium cannabis brand in Canada . This document involves specific statements that are not descriptions of historical information but are forward-searching statements. Such statements involve, amongst other individuals, these regarding our anticipated monetary overall performance and strategic and operational plans, our future operating benefits, our expectations concerning the marketplace for healthcare and recreational cannabis solutions, our expectations concerning the continued development of the healthcare and recreational cannabis marketplace, as properly as all assumptions, expectations, predictions, intentions or beliefs about future events. Customers are cautioned that any such forward-searching statements are not guarantees of future overall performance and that a quantity of dangers and uncertainties could result in our actual benefits to differ materially from these anticipated, expressed or implied in the forward-searching statements. These dangers and uncertainties have not been documented or described in this document nor other communications produced by the firm. The words “think,” “anticipate,” “anticipate,” “project,” “targets,” “optimistic,” “intend,” “aim,” “will” or equivalent expressions are intended to recognize forward-searching statements. All statements other than statements of historical truth are statements that could be deemed forward-searching statements. The Organization assumes no obligation and does not intend to update any forward-searching statements, except as expected by law.