Cannabis beverage company Sproutly isn't focusing its strategy on the United States, amid the illegality of recreational cannabis use.

"We're going to stay from the U.S. guidelines for right now and focus on the regulated jurisdictions - Canada, Australia, the EU," Keith Dolo, Sproutly's CEO.

As for its looming IPO in Canada, which will legalize recreational marijuana use beginning on October 17, Dolo said it allows the company to raise capital cheaply and expand its brand awareness.

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