Sugarbud Craft Growers Corp. has completed its first harvest on March 2, 2020 and is now in the process of completing the final stages of the post-harvest dry and cure activities. “The success of our first harvest marks a major milestone for Sugarbud and we are all very pleased with the quality and outcomes of our first crop along with the operating level and performance of our facility overall,” stated Mr. Kondrosky.
“The preliminary potency and terpene testing on this first crop is very much in line with our expectations and commitment to bring exceptional high quality premium dried cannabis to Canadian consumers,” added Mr. Kondrosky. Sugarbud is now well underway on its second crop and the Company expects to complete its second harvest in early June 2020. As part of two previously announced supply agreements, the Company expects to ship its first revenue generating commercial batch of premium dried cannabis in early Q2.
Sugarbud is also pleased to confirm that it has submitted its amended dried cannabis sales license application to permit interprovincial adult recreational sales to authorized provincial wholesalers and retailers to Health Canada and the Company expects to launch its first adult recreational premium dried cannabis products in late Q3 2020.
“Backed by a clear vision, a disciplined financial and operating model and a strong experienced management team, we continue to focus on what we can control, execute against our plan and hit the milestones we have laid out for the Company,” concluded Mr. Kondrosky.
Sugarbud is closely monitoring the latest developments regarding the progression of COVID-19 and will continue to follow the direction of federal, provincial and municipal governments, and public health authorities to ensure that it does what it can to slow the spread of the COVID-19 coronavirus. These steps include the adoption of remote work practices, active social distancing and enhanced health and safety protocols across its entire operating environment.
Sugarbud is a federally licensed Alberta based craft cannabis company, focused on the cultivation and production of genetically diverse, high quality, select-batch, ultra-premium cannabis products.