Tickers: XTSE:SBG.H, XTSX:SBG.H, XTSX:GAIA
The harvesting team delivered the necessary equipment to the Gaia hemp fields in Airdrie, Alberta on September 16th and has been running several harvesting process tests across the smaller fields to ensure an optimal crop harvest, making sure there is an efficient drying process prior to baling and also to facilitate field clean-up for next year's rotation crops. The harvest is dependent upon weather conditions and is anticipated to take between seven to fourteen days once started, while drying could take an additional five to seven days thereafter.
Harvesting of the crop has officially started and the current two-week weather forecast looks very promising. Gaia will continue to update shareholders as the harvesting progresses.
As is prudent with any hemp crop, whether grown indoor or outdoor, periodic cannabinoid profile testing has been conducted to help with optimal harvest timing. From roughly 60 days from planting, periodic independent tests have been sent to several labs across the country. Results from these tests have been extremely positive and have been received and discussed with our potential off-take partners.
"With favorable test results and our harvest underway, we now have the full ability to begin allocating our crop to the right buyers" says Frederick Pels, CEO of Gaia. "The appetite for Gaia's premium product is strong and we anticipate sales to be finalized post harvesting. These sales will not only fuel but cement our stance as being a leader in the hemp and CBD industry in North America."
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY AND FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. Forward-looking statements and information are often, but not always, identified by the use of words such as "appear", "seek", "anticipate", "plan", "continue", "estimate", "approximate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "would" and similar expressions.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with the hemp industry in general such as operational risks in growing; competition; incorrect assessment of the value and potential benefits of various transactions; ability to access sufficient capital from internal and external sources; failure to obtain required regulatory and other approvals and changes in legislation, including but not limited to tax laws and government regulations. Accordingly, readers should not place undue reliance on the forward-looking statements, timelines and information contained in this news release.
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