SpeakEasy Announces Health Canada has Granted an Amendment to its Sales Licence to Sell Dried Cannabis Flower and Products

Published: January 26, 2021

SpeakEasy Announces Health Canada has Granted an Amendment to its Sales Licence to Sell Dried Cannabis Flower and Products

SpeakEasy Cannabis Club Ltd., a holder of a federal licence to cultivate, process and sell cannabis under the Cannabis Act announces it has received its licence to sell flower into the recreational market and directly to medical patients.

Health Canada has amended SpeakEasy’s current production and processing licence to allow sales of its flower and pre-rolls into provincial dispensaries and directly to medical patients opening up the path to higher margins by eliminating the necessity to sell to other licence holders. This allows SpeakEasy to be a direct supplier of finished packaged products and not just bulk unpackaged cannabis.

Founder, Marc Geen states, “Another huge milestone has been achieved. This step represents the transition from a farm gate wholesaler to a manufacturer of finished products for retail sale. This has been the long-term plan from the very inception of this company more than 7 years ago and is the culmination of a colossal effort to be able to offer our products directly to consumers.”

Increased Margin Business Model

SpeakEasy’s vision has always been focused on a business to consumer model, that is now becoming a reality. This amendment is expected to increase our margins, protect us from market fluctuations with respect to raw materials and allow us to create demand for our product by reaching consumers directly. Working with other licensed producers to supply raw flower, co- branding products, custom growing and processing is in our best interest and will continue in the future. SpeakEasy has been very fortunate to have found likeminded operators within the industry and forged strong ties that it will work with to continue existing contracts and develop new sales opportunities.

Building Brand Equity for the Future

With the receipt of our license to permit sales of cannabis flower, we can now focus on brand awareness and sales to customers. “B.C. Bud” has a mystique all by itself and those who can capitalize on that by producing flower worthy of the “B.C. Bud” reputation will reap the rewards of global recognition. SpeakEasy represents the skill and craftsmanship found in legacy market growers here in B.C. and will enter the market giving customers what they are looking for. SpeakEasy brands that accentuate everything “BC Bud” represents have been created and will soon be released into the market now that we have our amended sales licence.

Founder, Marc Geen stated, “Like an iceberg, 90 percent of SpeakEasy, up to this point, has been below the surface. So much activity and work goes unseen until a point is reached where a thousand small things all come together, this is one of those moments. Achieving the amended sales licence requires an immense amount of work and represents a radical change in direction for the Company. Sales and marketing can now be directed towards our consumers, we can get our product out there that speaks for itself. We have waited a long time to be on this stage and everyone here is excited about the opportunity.”

Geen further stated, “The importance of this achievement cannot be overstated, a huge thank you to our dedicated staff, without them we could not achieve all we have. The team at SpeakEasy has been more committed and more passionate over the last two years than any company could ask for.”

The Company also plans to grant up to 1,030,000 incentive stock options to certain of its directors, officers, employees and consultants.  Such grant to be made in accordance with applicable securities laws and the policies of the Canadian Securities Exchange.

SpeakEasy Cannabis Club Ltd. holds a cultivation, processing and amended sales licence issued by Health Canada under the Cannabis Act.

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