SpeakEasy Cannabis Club Ltd., a holder of a federal licence to cultivate, process and sell cannabis under the Cannabis Act is excited update its shareholders on the progress of its pre-rolled joints production and sales. SpeakEasy has achieved its projected maximum production of its indoor flower, extracts and pre-rolled joints and is fully sold out for the foreseeable future.
SpeakEasy is excited to report on the progress of its product and sales. The Company has achieved its projected maximum production of its indoor flower, extracts and pre-rolled joints and is fully sold out for the foreseeable future. Our partner, RC Frontier Labs Ltd, recently received state of the art equipment, valuing over approximately CAD $300,000 and expects it to be fully operational in early July. Pursuant to our agreement with Frontier, this provides the ability to increase production and more than quadruple the Company’s current production capacity for extracts. Demand has exceeded management’s expectations and efforts are being made to increase production to keep up.
Founder Marc Geen states, “We are in the enviable position of having our product in such high-demand whereby we can’t keep up. Our indoor flower is completely sold out and all indoor harvests are spoken for until the end of our forecast period, approximately 3 months. Our extraction lab is running triple shifts, seven days a week and its production is completely sold out, in addition, our pre-rolled joints are also sold out. It’s a great problem to have and is a testament to our foundational beliefs, providing high quality products at reasonable prices will attract and keep customers. We are working hard to increase production across the board and making great strides, a necessity as we are aiming to enter multiple provinces in the near future that we expect, will vastly increase sales”.
Price and Quality
Speakeasy has been able to take its high-quality, economical input material, combined it with in-house processing and packaging and create a product that can be aggressively priced to compete at levels on par or below any currently in industry, all while maintaining a healthy profit margin. Research shows the pre-roll segment of the market has been steadily increasing month over month and is projected to continue growth[1]. SpeakEasy is positioned to be a strong competitor in all provinces with its current sales showing a demand that has exceeded management’s expectations.
About SpeakEasy Cannabis Club Ltd.
SpeakEasy Cannabis Club Ltd. holds a cultivation, processing and sales licence issued by Health Canada under the Cannabis Act. SpeakEasy owns 290 acres of land in Rock Creek, British Columbia, and leverages five generations of farming experience in B.C. as well as its favourable location to grow and process high-quality cannabis products at low cost.
