CannaRoyalty Investee and Licensing Partner Natural Ventures Reports Weather Damage to Puerto Rico Facility following Hurricane Maria
Ottawa, Canada – September 28, 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 and licensing partner, Natural Ventures PR, LLC (“Natural Ventures”) facility in Puerto Rico sustained some weather-related damage due to Hurricane Maria. All employees of Natural Ventures are safe and hard at work getting operations back online. Facility repairs are projected to be completed in the coming weeks and are expected to be covered by Natural Ventures’ insurance policy.
Natural Ventures is an active licensee, manufacturer and distributor of CR Brands’ Soul Sugar Kitchen™ gourmet edibles and GreenRock Botanicals™ premium vape pens in Puerto Rico. Currently, Natural Ventures is selling Soul Sugar Brand peanut butter cups and expects to launch branded jellies and snack mix in the near future. The GreenRock Botanicals line features premium hardware from 100% CannaRoyalty-owned DreamCatcher Labs, paired with premium oils in a range of local flavors including Guava, Mango, Pina Colada, Strawberry, Grape, Tangilope, Banana and others.
CannaRoyalty has a 10-year, 2.5% royalty on Natural Ventures’ total net income and also earns a further 10% licensing royalty on gross revenues generated from the CR Brands portfolio of products licensed by Natural Ventures from CannaRoyalty for the Puerto Rico market.
About Natural Ventures
CannaRoyalty investee Natural Ventures is Puerto Rico’s largest licensed cultivator, manufacturer and distributor of cannabis products with a 100,000 square-foot indoor cultivation facility. Natural Ventures is also one of only two companies in Puerto Rico that has received a manufacturer’s license. It has a 30,000 square-foot state of the art lab for processing, testing and distribution. Natural Ventures has full market distribution and is currently selling to every active dispensary in Puerto Rico. Natural Ventures launched CR Brands in Puerto Rico during Q2-2017, starting with Soul Sugar Kitchen gourmet-edibles and GreenRock Botanicals premium vape pens. Puerto Rico is one of the fastest growing medical cannabis markets in North America.
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.