Ottawa, Canada – September 12, 2017 – CannaRoyalty Corp. (CSE: CRZ) (OTCQX: CNNRF) (“CannaRoyalty” or the “Company”), an active investor and operator in the legal cannabis industry, today confirmed that its investee companies Natural Ventures PR, LLC (“Natural Ventures”) and Alternative Medical Enterprises LLC (“AltMed”) have not experienced any hurricane-related impact on their operations in Puerto Rico or Florida.
Natural Ventures is in the process of manufacturing and distributing CR Brands’ Soul Sugar Kitchen gourmet-edibles and GreenRock Botanicals premium vape pens in Puerto Rico. CannaRoyalty has a 10-year, 2.5% royalty on Natural Ventures’ net income and earns a further 10% licensing royalty on gross revenues generated from products licensed by Natural Ventures from CannaRoyalty for the Puerto Rican market.
AltMed has recently established AltMed Florida to benefit from one of only 12 Medical Marijuana Treatment Center (“MMTC”) licenses in Florida. AltMed’s award-winning line of MüV™ cannabis infused products are expected to be available to patients statewide in Q1-2018 via delivery and through MüV by AltMed Florida dispensaries. CannaRoyalty owns 8.3% of AltMed and earns a 3.5% net revenue royalty on the sale of MüV products sold globally until June 2026.
CannaRoyalty is an active investor and operator in the legal cannabis sector. Our focus is building and supporting a diversified portfolio of growth-ready assets in high-value segments of the cannabis sector, including research, consumer brands, devices and intellectual property. Our management team combines a hands-on understanding of the cannabis industry with seasoned financial know-how, assembling a platform of holdings via royalty agreements, equity interests, secured convertible debt, licensing agreements and its own branded portfolio.
For further inquiries, please contact:
Marc Lustig, CEO
Jonathan Ross, CFA
LodeRock Advisors Inc.
Forward Looking Statements
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 CannaRoyalty’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 the Company’s expectations with respect to pursuing new opportunities and its future growth and other statements of fact.
Although CannaRoyalty has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal under US Federal Laws; changes in laws; limited operating history; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult-use marijuana industry and; regulatory or political change.
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. CannaRoyalty disclaims any intention or obligation to update or revise such information, except as required by applicable law, and CannaRoyalty does not assume any liability for disclosure relating to any other company mentioned herein.