MPX International's Wholly-Owned Subsidiary, Canveda Inc., Enters Into a Supply Agreement with the Ontario Retail Cannabis Corporation
TORONTO, ONTARIO – TheNewswire - March 2, 2021 – MPX International Corporation (“MPX International”, “MPXI” or the “Corporation”) (CSE:MPXI) (OTC:MPXOF) (CNSX:MPXI.CN), a multinational diversified cannabis company, is pleased to announce an agreement dated February 17, 2021 between Canveda Inc. (“Canveda”), a licence holder under the Cannabis Act (Canada), and the Ontario Retail Cannabis Corporation, operating as the Ontario Cannabis Store (the “OCS”) for the supply of cannabis under Canveda’s recreational brand, Strain Rec™. The agreement will continue until August 14, 2022, unless terminated earlier and may be extended upon mutual agreement of the parties for an unlimited number of successive two (2) year terms. Canveda expects to supply the OCS with 5 product SKUs consisting of unique, high quality flower and four distinctive cannabis-infused edibles beginning in March 2021.
“We are proudly Ontario-based and are very pleased to expand our Strain Rec™ brand offering into our home province. We see this as another great opportunity for our products to become a mainstay in the Canadian retail market,” said Michael Arnkvarn, Chief Operating Officer, Canada of MPXI. “Following the successful introduction of the Strain Rec™ brand in Saskatchewan and Alberta, this supply agreement is another important step in the continuing expansion of our overall Canadian retail strategy.”
The OCS is Ontario’s only legal online retailer for recreational cannabis and is the exclusive distributor of recreational cannabis to private retail stores in the province.
ing opportunities for our Strain Rec™ branded products,” noted W. Scott Boyes, Chairman, President and CEO of MPX International. “It’s exciting to become a part of our local marketplace”.
About MPX International Corporation
MPX International Corporation is a multinational diversified cannabis company focused on developing and operating assets across the international cannabis industry with an emphasis on cultivating, manufacturing and marketing products which include cannabinoids as their primary active ingredient. With current operations spanning four continents in Canada, Switzerland, South Africa, Malta and Australia as well as evolving partnership and distribution opportunities in other jurisdictions, MPXI continues to position itself as an emergent global participant in the cannabis industry.
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, MPX International’s objectives and intentions. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic and social uncertainties; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; delay or failure to receive board, shareholder or regulatory approvals; the Corporation’s ability to effectively deal with the restrictions, limitations and health issues presented by the COVID-19 pandemic; future cannabis pricing; cannabis cultivation yields; costs of inputs; its ability to market products successfully to its anticipated clients; reliance on key personnel and contracted relationships with third parties; the regulatory environment in Australia, Canada, Malta, South Africa, Switzerland and other international jurisdictions; the application of federal, state, provincial, county and municipal laws; and the impact of increasing competition; those additional risks set out in MPX International’s public documents filed on SEDAR at www.sedar.com, including its audited annual consolidated financial statements for the financial years ended September 30, 2020 and 2019, and the corresponding management’s discussion and analysis; and other matters discussed in this news release. Although MPX International believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, MPX International disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
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For further information about MPXI, please contact:
MPX International Corporation
W. Scott Boyes, Chairman, President and CEO
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