VANCOUVER, British Columbia, March 17, 2022 (GLOBE NEWSWIRE) — HYTN Innovations Inc. (“HYTN” or the “Company) (CSE: HYTN) is pleased to announce that it has begun accepting orders directly from Provincial buyers. This news builds on HYTN’s February 22 announcement that it had been awarded approval to sell cannabis products to provincially and territorially authorized retailers and that the Company was preparing to transition away from its partnership with Emerald Health Therapeutics, Inc. (“Emerald”) (CSE: EMH). Until now, all sales of HYTN’s cannabis infused carbonated beverages had been made through its partnership with Emerald in British Columbia, Alberta, Saskatchewan, Ontario and Quebec. During the transition away from Emerald, HYTN has ensured minimal disruption to its provincial partners and consumers and has prepared itself to accept orders from new markets including Nova Scotia and the Yukon.
“Our team has done incredible work getting us to this point,” said HYTN CEO, Elliot McKerr. “Now that our partnership with Emerald has completed, we are in a strong position to recapture margin and advance our product offerings into new markets. It has been amazing to see our brand grow and we look forward to working directly with retailers across Canada. We are confident that having our own facility, formulations, sales team and increased margin will provide the stability needed to execute our vision.”
While the Company has begun to accept orders directly, it will continue to work with Emerald to ensure that all products currently in market are seamlessly transitioned. Consumers will experience no change in HYTN’s products beyond an update to the manufacturer of record on the label.
About HYTN Innovations Inc.
HYTN formulates, manufactures, markets, and sells premium cannabis goods. With the mission to be the leading provider of consistent, natural, and delicious cannabis products, HYTN focuses its efforts on identifying category opportunities and takes an innovative approach to delivering elevated cannabis experiences to a discerning customer base.
Please visit www.hytn.life for more information or contact:
Elliot McKerr, Chief Executive Officer
HYTN Investor Relations
The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release.
Cautionary Note Regarding Forward-Looking Statements
Certain information contained herein may constitute forward-looking statements that involve risks and uncertainties. Readers are cautioned not to place undue reliance on forward-looking statements, including, but not limited to, statements regarding: (i) the Company being in a strong position to recapture margin and advance its product offerings into new markets; (ii) the Company looking forward to working directly with retailers across Canada; (iii) the Company’s having its own facility, formulations, sales team and increased margin providing the stability needed to execute the Company’s vision; (iv) the Company continuing to work with Emerald to ensure that all products currently in market are seamlessly transitioned; and (v) consumers experiencing no change in HYTN’s products beyond an update to the manufacturer of record on the label. Factors that could cause actual results to vary from forward-looking statements or may affect the operations, performance, development and results of the Company’s business include, among other things: the Company’s ability to generate sufficient cash flow from operations to meet its current and future obligations; the Company’s ability to access sources of debt and equity capital; competitive factors, pricing pressures and supply and demand in the Company’s industry; general economic and business conditions; the effects and impacts of the COVID-19 pandemic, the extent and duration of which are uncertain at this time, on the Company’s business and general economic and business conditions and markets; and the risk factors identified in the Company’s public filings available on www.sedar.com. Any statements that are not statements of historical fact are deemed to be forward-looking statements. The forward-looking statements contained in this news release are made as of the date of this news release, and, except to the extent required by applicable law, the Company assumes no obligation to update or revise forward-looking statements made herein or otherwise, whether as a result of new information, future events, or otherwise. The forward-looking statements contained in this news release are expressly qualified by this cautionary note.