LOS ANGELES, CA / ACCESSWIRE / March 2, 2021 / Cannabis Global, Inc. (OTC PINK:CBGL), an innovation-oriented company involved in disruptive areas of the cannabis and hemp-related industries, today announces it will enter the cannabis edibles market sector via its licensed entity, Natural Plant Extract of California Inc. ("NPE"). On February 16, 2021, the Company acquired control of 56.5% of the outstanding shares of NPE. NPE operates a licensed cannabis manufacturing and distribution business in Lynwood, California, holding a Type 7 California Manufacturing and a distribution license, allowing for cannabis product manufacturing and distribution anywhere in the state of California.
At the Lynwood facility, the Company plans to manufacture various cannabis edibles based on its internally developed intellectual property, including its high melt cannabis edible technologies specifically designed for the temperature extremes of cannabis delivery. Cannabis Global also plans to utilize its distribution license to capture the entire production and distribution revenue stream relative to products produced at Lynwood.
"We are now in a fortunate position to have a strong combination of proprietary technologies for cannabis edibles, licensed manufacturing, and licensed distribution capabilities," commented Arman Tabatabaei, CEO. "We plan to begin production and marketing of unique cannabis edibles under the Northern Lights brand name. Since we control both manufacturing and distribution licenses, we will be able to maximize our revenue and profit opportunities. We are particularly excited about our ‘high melt' technology that allows us to manufacture cannabis edible products with unique thermal protection properties, which we believe offers an advantage relative to the hot Southern California climate and cannabis delivery services, which are certainly growing in popularity."
Cannabis Global's product lines to be produced and distributed out of the Lynwood, California facility will be marketed under the Northern Lights brand name. The Company plans to target both the mass market via economy brands and the high end of the edibles marketplace via offerings with exceptionally clean labels based on natural ingredients and solventless extracts. The Company is in the final stages of completing the brand redesign with a top brand designer for Northern Lights, and we expect to release its retail brand in the second calendar quarter.
Cannabis Global has invested heavily in cannabis infusion-related research and development in order to target premium areas of the marketplace, which are becoming increasingly sophisticated. The Company has filed six provisional patents and three non-provisional patents in these areas. These investments will aid the Company in designing premium cannabis edibles products to meet the evolving demands of the marketplace.
Mr. Tabatabaei continued, "The cannabis edibles space is experiencing rapid growth and thus our rationale for making this our first targeted market in the licensed cannabis space. While we think our unique approach to product design will be a hit with cannabis dispensaries, we also see a profitable niche relative to targeting cannabis delivery services with our high melt edibles technology, solving one of the significant issues for delivery services operating in warm climates. In addition to cannabis edibles, we plan to soon announce additional products to round out our Northern Lights brand offerings."
About Cannabis Global, Inc.
Cannabis Global, Inc. is a Los Angeles-based, fully audited and reporting Company with the U.S. Securities & Exchange Commission, trading under the stock symbol CBGL. We are an emerging force in the cannabis marketplace with a growing product and proprietary intellectual property portfolio. We are marketing and producing Comply Bag™, an innovative solution for cannabis storage, transport and tracking, and are the developer and marketer of the Hemp You Can Feel™ brand. Our subsidiary, Natural Plant Extract (NPE), is a Southern California licensed cannabis manufacturer and distributor which licenses our technologies to produce edibles for the cannabis marketplace. Cannabis Global has filed three non-provisional and multiple provisional patents for cannabis infusion and nanoparticle technologies and continues an active research & development program.
This news release contains "forward-looking statements" which are not purely historical and may include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as "anticipate", "seek", intend", "believe", "estimate", "expect", "project", "plan", or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects, the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations regarding the use and development of cannabis-based products. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission. For more information, please visit www.sec.gov
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SOURCE: Cannabis Global, Inc.
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