Cannabis Global Comments on Its Fiscal Year-End, Debt Restructuring Program, and Launch of Unique New Products, Including Cannabis-Infused Straws
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LOS ANGELES, Calif., August 25, 2022 McapMediaWire Cannabis Global, Inc. (OTC: CBGL), a Los Angeles-based licensed manufacturer and distributor in the cannabis industry, today comments on the company’s expected growth and the launch of unique products in the California cannabis market. For the fiscal year ended August 31, 2022, the Company expects to record strong growth, driven by the launch of new products and multiple new distribution partnerships.
Edward Manolos, CEO of Cannabis Global, said: “We are about to close a strong fiscal year ending August 31, 2022. This fiscal year, the main objectives were to complete R&D programs, increase revenues, to restructure and reduce debt, and to launch new products in the cannabis landscape. We achieved many of these goals while significantly increasing our revenue base. As such, we expect to end this fiscal year with strong growth compared to previous periods. We are even more excited about fiscal year 2023, which begins September 1, 2022. We believe our growth trajectory will continue with many new customers and a host of innovative and unique new offerings.
Over the past few months, the Company has launched 23 new products and significantly increased its sales and marketing presence. New product launches will continue into early fiscal 2023 with new solvent-free products, new forms of cannabis concentrates, and most importantly, cannabis-infused drinking straws that the company plans to be the manufacturer and the preferred distributor for the entire State of California.
In fiscal 2022, Cannabis Global restructured much of its debt through debt consolidations. A major objective over the coming quarters will be to further consolidate and reduce the overall debt on the balance sheet. This debt restructuring program, which is currently being implemented, will be described as further steps are taken by the Company towards this objective.
Mr. Manolos continued, “This has been a year of restructuring, R&D, leadership change and marketing overhaul for our company. However, we believe that the most difficult parts of our turnaround are behind us. With further demonstrable revenue growth, a customer-focused product portfolio and strengthening business relationships, we are very optimistic about our prospects for continued growth. Additionally, we believe these growth prospects will strengthen even further as we begin production and distribution of one of the most exciting products to come in recent memory in cannabis-infused drinking straws. Over the next few weeks, we’ll be discussing this innovative cannabis delivery technology and the brands we’ve selected to be the first to bring this new kind of product to consumers.
These product and brand introductions include:
Cannabis Infused Drinking Straws Cannabis-infused drinking straws have the potential to change the entire category of retail cannabis edibles. Instead of purchasing a cannabis-infused beverage from a retailer, the consumer can purchase a drinking straw topped with unflavored cannabis extracts and then select the beverage of their choice to enjoy a new cannabis experience or purchase a straw with internal flavoring as a means of adding cannabis extracts to water. Brands launching this new technology expect to be first to market in this category, with samples available to retailers during the first week of September 2022.
El Cheapo brand edibles Earlier this year, Cannabis Global and Caliwanna Distribution formed a subsidiary of the company named Caliwanna Cannabis Global to market and distribute new cannabis products under multiple brand names. The El Cheapo brand is based on using the best available ingredients and zero-taste cannabis infusions, then pricing retailers for less competitive or inferior products that are based on inferior ingredients and much less desirable taste profiles. . This line of “Zero Cannabis Taste” products began shipping last month. The Caliwanna Cannabis Global website can be viewed at www.caliwanna.com.
Northern Lights branded products Cannabis Global launched its Northern Lights branded products in conjunction with Equity Brands, Inc. of Long Beach, California. The product line, which recently passed California compliance testing, will include nine SKUs of cannabis flower products, rosin-infused pre-rolls and cannabis-free edibles. The product brand positioning for Northern Lights will be one of the best ingredients at very competitive prices. The new product line can be viewed at www.equitybrands.co.
8 bit buds Cannabis Global’s product and distribution partnership with the 8-Bits Buds brand expands this week via the launch of three new ultra-potent rosin-infused cannabis prerolls. NPE has completed production on initial orders, with shipments beginning throughout California this week. Additionally, the companies are expanding their collective sales and distributions of multiple packaged cannabis flower SKUs, with several new products launching this month. The 8-Bits Buds product line can be viewed at www.8-bitbuds.com.
Wolfgang Wax Solvent Free Products Along with its partners at Caliwanna, Natural Plant Extract of California (NPE), has been selected as the manufacturing partner for a new line of solvent-free products, including rosin-infused pre-rolls, cannabis rosin and hash high-powered upgraded Lebanese-style. Wolfgang Wax’s new brand image can be seen on www.wolfgangwax.com.
White label manufacturing During the month of August, the company plans to begin shipping three new SKUs of cannabis flower and edibles for delivery services under a white-label manufacturing contract.
Hash 2.0 Company brand In conjunction with several of its partner companies, the Company will launch a new line of cannabis products extracted from traditional Lebanese-style blonde hash, but at potency levels significantly higher than the traditional-style product category. Natural Plants Extract plans to launch the new type of product through several partner brands.
Distribution of cannabis beverages and specialty products In September, Cannabis Global plans to launch the manufacturing and distribution of a new class of cannabis infusion emulsion technology. These products will be based on chemical-free nanoemulsions and microemulsions for use as core infusion technologies for various cannabis beverages, edibles, and related products.
About Cannabis Global, Inc.
Cannabis Global, Inc. is a Los Angeles-based company, fully audited and filing with the United States Securities & Exchange Commission, trading under the ticker symbol CBGL. We are an emerging force in the cannabis market with a growing portfolio of proprietary products and intellectual property. We market and produce Comply Bag, an innovative solution for storing, transporting and tracking cannabis. Our subsidiary, Natural Plant Extract (NPE), is a licensed Southern California cannabis manufacturer and distributor that licenses our technologies to produce edibles for the cannabis market. Cannabis Global has filed three non-provisional patents and several provisional patents for cannabis infusion and nanoparticle technologies and continues an active research and development program.
This press release contains forward-looking statements that are not purely historical and may include statements regarding beliefs, plans, expectations or intentions regarding the future. These forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as anticipate, seek, intend, believe, estimate, expect, project, plan or similar expressions. can be considered forward-looking. statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in the forward-looking statements due to many factors. These factors include, among others, the inherent uncertainties associated with new ventures, future U.S. and global economies, the impact of competition, and the company’s dependence on existing regulations regarding the use and development of cannabis products. . These forward-looking statements are made as of the date of this press release, and we undertake no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be correct. Investors should review all of the information set forth herein and should also refer to the disclosure of risk factors described in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q and other periodically filed reports. from time to time with the Securities and Exchange Commission. For more information, please visit www.sec.gov.
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