Vancouver, British Columbia – May 17th, 2021 – Gaia Grow Corp. (the “Company” or “Gaia”) (CSE: GAIA; Frankfurt: GG0) is pleased to provide the following corporate update on its hemp operations and the new corporate acquisitions that the Company announced last week:
The GAIA facility in Lacombe, Alberta is ramping up production. This facility is custom-built for large-scale bale breaking, separation of seed, fibre and flower. Enagon’s mills in Lacombe are in place for high-volume upgrading of Gaia flower and separating fibre for monetization of all potential revenue streams
Directing inventory to TruExtracts and Canna Stream Solutions is well underway.
Gaia’s first and foremost focus was to develop a market for its flower. The Canadian cannabis and hemp marketplace has evolved over the past 24 months. Today, the most in-demand units in the industry are concentrates, whether crude oil, distillate, or isolate.
Over the past year our team has spoken with other growers, industry participants, extractors and formulators from across Canada and Gaia’s management concluded that a dedicated extraction processing capacity for Gaia’s current harvested inventory was paramount, and the partnership with TruExtracts provides huge efficiencies in the cost of transportation and logistics, as well as having the ability to not only create base concentrations and extractions but also finished-goods formulations under one roof.
The TruExtracts licensing and extraction line provides Gaia with the ability to create multiple types of concentrates and extractions, with the base first-pass extraction being full spectrum crude cannabis or CBD oil. A benchmark of efficiency would be at least 1.9L of CBD crude oil per 100lbs of Enagon-Milled Gaia flower product input. Gaia currently has an inventory of 124,000lbs of milled CBD-rich input, and extracted crude can expect to sell in the range of $3,000 to $5,000 per litre.
We look forward to closing the acquisition of TruExtracts in the coming weeks.
Utilizing Canna Stream’s Patent-Pending environmentally friendly Solvent, TruExtracts is able to process Gaia’s CBD rich process more cost-effectively, increasing profitability and providing a significant competitive advantage.
Using Canna Stream’s environmentally green technologies and processes to prepare the non-CBD rich milled fibre product for “low volume, high dollar” end products to be sold to existing Canna Stream industry partners who have unique plant-based product needs for their next level of finished goods manufacturing.
We look forward to closing the acquisition of Canna Stream Solutions in the coming weeks
This combination of the various businesses is clearing a direct path to income generation while also closing the circle of “use the whole green buffalo” process from start to finish. Through the acquisitions of both TruExtracts and Canna Stream Solutions, Gaia will have control and end-to-end licensing to prepare products directly from the field to extractions for sale, in addition to formulated goods with SKUs for sale to retailers. The additional value-add comes from using science, experience and know-how with plant-based fractionations, especially with Gaia’s hemp fibre, to realize near-term income streams.
The Company also announces that it has granted 2,000,000 incentive stock options to certain arms-length consultants to the Company. The options vest immediately upon grant, and are exercisable at a price of $0.06 for a period of sixty months.
The Company diligently posts updates on Gaia’s official YouTube page link can be found here: https://www.youtube.com/channel/UC7tbvsY5gl2CrlsESYkbbgw
For further information please contact:
Frederick Pels, Chief Executive Officer
The Canadian Securities Exchange does not accept 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.