EX-99.34 35 exhibit99-34.htm EXHIBIT 99.34 Cannex Capital Holdings Inc.: Exhibit 99.34 - Filed by newsfilecorp.com

CANNEX US SUBSIDIARY LAUNCHES NEW EDIBLES BRAND

Cannex continues growth with strong cannabis edibles offerings in Washington State

VANCOUVER, BC, March 28, 2018 - Cannex Capital Holdings Inc. (CSE: CNNX) (“Cannex” or the “Company”) is pleased to announce that its wholly-owned US subsidiary, BrightLeaf Development LLC (“BrightLeaf”) has developed and commercially launched a new edibles brand, Hi-Burst™, to strong initial reviews and excellent retail demand. The new Hi-Burst™ brand is an infused fruit chew offered in a wide variety of flavors. The Hi-Burst™ recipe and brand has been licensed exclusively to BrightLeaf’s long-term strategic tenant, Northwest Cannabis Solutions (“NWCS”), which is the leading manufacturer of edibles and other derivative products in Washington.

The retail market for edibles in Washington State is roughly US$180,000,000, and has continued to grow since the Washington recreational market came online in 2014. As of 2016, edible sales made up 10% of the U.S. recreational cannabis market, increasing to 13% in April 2017, according to BD Analytics. In the last year, sales of edibles in Washington State increased by 121% with unit sales of over 2.6 million. Candy makes up the largest portion of the Washington edibles market, with US$10.8 million in sales in 2017, up 28% from the previous year. For users, edibles provide a discreet, accurately measured dose without requiring smoke or vaporization.

“It took years of experience developing other cannabis-infused recipes, including Washington’s bestselling Marmas™ infused soft fruit candy, to be able to perfect a delicious infused fruit chew. I truly believe it is the best infused fruit chew available in any state today, and am very excited to take the Hi-Burst™ brand and recipe into multiple new states before the end of the year,” said Leo Gontmakher, Cannex’s COO. “Cannex is focused,” continued Gontmakher, “on the growing edibles and derivatives market and Hi-Burst™ is an excellent example of Cannex’s commitment to product development and strong brands.”

BrightLeaf’s strategic tenant, NWCS, is the leading producer of recreational cannabis in Washington State, achieving sales of over US$25,750,000 in 2017. Utilizing BrightLeaf-designed and developed turnkey growing facilities, NWCS was able to produce approximately 8,000 kilograms of cannabis in 2017. Distributed regularly to over 300 stores, NWCS has a superior position in the Washington cannabis market.

About Cannex Capital Holdings Inc.

Cannex, through its wholly-owned subsidiaries, provides a wide range of services including real estate, management, financial, branding and IP to licensed cannabis business operators domestically and internationally. Cannex is focused on premium indoor cultivation, extraction, manufacturing and branding of edible and derivative products as well as retail operations. Cannex is undertaking expansion initiatives to support the acquisition and development of additional assets in legal medical and recreational cannabis markets. Based in Vancouver, BC, Cannex is managed by a team of experienced industry and capital markets experts who are committed to aggressive, cost-effective growth. Cannex currently owns BrightLeaf Development LLC which holds real estate assets, property leases, brands and intellectual property, and material supply agreements with Superior Gardens LLC (d/b/a Northwest Cannabis Solutions), Washington State’s and the Pacific Northwest’s largest full-line cannabis producer/processor, as well as 7Point Holdings LLC, another Washington State licensed cannabis producer/processor.


Cannex Capital Holdings Inc.
Anthony Dutton, CEO
(604) 649-7787
Email: adutton@cannexcapital.com
Website: www.cannexcapital.com

This news release was prepared by management of Cannex, which takes full responsibility for its contents. The Canadian Securities Exchange (“CSE”) has not reviewed and does not accept responsibility for the adequacy of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in Cannex’s periodic filings with Canadian securities regulators. When used in this news release, words such as “will, could, plan, estimate, expect, intend, may, potential, believe, should,” and similar expressions, are forward-looking statements.

Forward-looking statements may include, without limitation, statements including statements related to future developments and the business and operations of Cannex.

Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such factors include, but are not limited to, the risk factors included in Cannex’s listing statement filed with the CSE.

Cannex cautions that the foregoing list of material factors is not exhaustive. When relying on Cannex’s forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Cannex has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking information contained in this news release represents Cannex’s expectations as of the date of this news release and, accordingly, are subject to change after such date.

There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.

Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. Cannex disclaims any intention or obligation to update or revise such information, except as required by applicable law.