VANCOUVER, British Columbia, May 13, 2020 (GLOBE NEWSWIRE) -- Pasha Brands Ltd. (the " Company" or " Pasha") ( CSE: CRFT) ( OTC:CRFTF) ( FSE:ZZD1) is pleased to announce it has signed a master processing agreement (the "MPA") with Indiva Limited ("Indiva") (TSXV:NDVA) (OTCQX:NDVAF) to manufacture and distribute pre-rolls and jarred flower curated from Pasha's wholly-owned subsidiary, BC Craft Supply Co Ltd.'s, vast national network of artisanal cannabis growers. This partnership intends to elevate the premium cannabis playing field by highlighting the skills of Canada's micro-growers and making their unique and beautiful flower available to consumers from coast-to-coast.
"This partnership represents a significant step for Pasha in realizing its vision to bring high-quality micro producers into the legal market and to provide an avenue for those products to be available on store shelves," said Matthew Watters, Pasha's Chief Executive Officer. "Our partnership with Indiva will leverage their world-class manufacturing capabilities, and equally strong distribution network within Canada, to produce pre-rolls and jarred flower that sets new industry standards. We take a lot of pride in our network of micro producers and are excited to work collaboratively to bring their artisanal cannabis to market, particularly at a time when quality product is in high demand."
The MPA is for a one-year renewable term. The partnership expects to begin processing cannabis by late May 2020. Pasha and Indiva will share in the net revenue from the MPA after costs are recovered by each respective party.
For further information, please contact Pasha's Chief Executive Officer, Matthew Watters, at (604) 687-2038.
About Pasha Brands
Based in British Columbia, Pasha is both North America's largest network and aggregator of craft cannabis and Canada's only prohibition-era brand house firmly rooted in the culture and made up by the people that created the original cannabis industry. With proven capabilities in cannabis cultivation, genetic research and development, product processing, and retail, Pasha is uniquely positioned in the new legal cannabis market through its network of hundreds of craft cannabis suppliers under the Pasha umbrella.
Pasha subsidiary, Medcann Health Products Ltd., is a Health Canada licensed cultivator and processor with a licence to sell medical cannabis products in Canada.Pasha, and its subsidiary BC Craft Supply Co. Ltd, assists micro cultivation farmers in bringing craft quality into the newly legal cannabis market in Canada by assisting them in both gaining access to licensing but also through its proprietary quality assurance and testing platform known as Craft Labs™, a proprietary platform bringing quality assurance to the craft industry, BC Craft Supply is driven to assist craft growers in obtaining security clearance and licensing to grow as micro-cultivators, specializing in education and compliance to bring growers into the regulated cannabis supply market.
Pasha's common shares trade on the CSE under the symbol "CRFT" and on the FSE under the symbol "ZZD1".
For more information, please visit www.pashabrands.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Pasha disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.