CALGARY,
AB, Jan. 14, 2025 /CNW/ - Canadabis
Capital is thrilled to announce a momentous milestone in the
history of Stigma Grow with the successful shipment of its premium
cannabis products to Portugal.
This significant event marks Stigma Grow's first international
export, opening new doors for growth and expansion in the European
market.
The shipment, which includes a selection of Stigma Grow's
renowned cannabis products, showcases the company's commitment to
quality and innovation in the cannabis industry. With a focus on
sustainable cultivation practices, Stigma Grow has established
itself as a leader in the Canadian market, and this international
venture is a testament to the brand's dedication to meeting the
evolving needs of consumers worldwide.
"This is a historic moment not only for Stigma Grow but for
Canadabis Capital as a whole," said Travis
Mcintyre, CEO of Canadabis Capital. "Our successful entry
into the Portuguese market is a reflection of our hard work,
strategic planning, and the unwavering support of our partners and
stakeholders. We are excited to introduce our high-quality products
to European consumers and contribute to the growth of the cannabis
industry in Portugal."
Portugal has emerged as a key
player in the European cannabis market, with a growing demand for
high-quality products. Stigma Grow's commitment to excellence
aligns perfectly with the evolving preferences of Portuguese
consumers, who are increasingly seeking premium cannabis
options.
The first shipment to Portugal
not only highlights Stigma Grow's innovative product line but also
underscores the company's vision of expanding its global footprint.
With this initial export, Canadabis Capital and Stigma Grow are
poised to explore further international opportunities, reinforcing
their position as industry leaders.
As Canadabis Capital and Stigma Grow embark on this new chapter,
the company remains dedicated to its core values of quality,
sustainability, and community engagement. Moving forward, Canadabis
Capital aims to establish strong partnerships in Portugal and beyond, ensuring that their
products are accessible to consumers who prioritize quality and
responsible sourcing.
ABOUT STIGMA GROW
Stigma Grow is a cutting-edge cannabis
cultivation and extraction company positioned advantageously to
meet the unmet market demands and stigmas within the legal cannabis
industry head on, with products designed to disturb the status quo
and dramatically shift the conversation surrounding Canada's legal cannabis industry.
CAUTIONARY STATEMENTS Non-GAAP Measures
This news release contains the financial performance metric of
Adjusted EBITDA, a measure that is not recognized or defined under
IFRS (a "Non-GAAP Measure"). As a result, this data may not be
comparable to data presented by other cannabis companies. For an
explanation and reconciliation of Adjusted EBITDA to related
comparable financial information presented in the Financial
Statements prepared in accordance with IFRS, refer to the MD&A
for the three months ended October 31,
2023. The Company believes that Adjusted EBITDA is a useful
indicator of operational performance and is specifically used by
management to assess the financial and operational performance of
the Company.
Adjusted EBITDA is a measure of the Company's financial
performance. It is intended to provide a proxy for the Company's
operating cash flow and is widely used by industry analysts to
compare CanadaBis to its competitors and derive expectations of
future financial performance of the Company. Adjusted EBITDA
increases comparability between comparative companies by
eliminating variability resulting from differences in capital
structures, management decisions related to resource allocation,
and the impact of fair value adjustments on biological assets,
inventory, and financial instruments, which may be volatile on a
period-to-period basis. Adjusted EBTIDA is not a recognized,
defined, or standardized measure under IFRS. The Company calculates
Adjusted EBITDA as net income (loss) and comprehensive income
(loss) excluding changes in fair value of biological assets, change
in fair value of biological assets realized through inventory sold,
depreciation and amortization expense, share-based payments, and
finance costs.
Regarding Forward-Looking Information
This news release includes certain "forward-looking statements"
under applicable Canadian securities legislation. Forward-looking
statements include but are not limited to statements with respect
to our business and operations; timing of the Sundial products
coming to market; the demand and market for live-resin vape
cartridges, and our general business plans. Forward-looking
statements are necessarily based upon a number of assumptions
including: the ability of the Company's products to compete with
the pricing and product availability on the black-market; the
market demand for the Company's products; and assumptions
concerning the Company's competitive advantages. These assumptions,
while considered reasonable, are subject to known and unknown
risks, uncertainties, and other factors which may cause actual
results and future events to differ materially from those expressed
or implied by such forward- looking statements. Such factors
include, but are not limited to: compliance with extensive
government regulation, the general business, economic, competitive,
political and social uncertainties; ability to sustain or create a
demand for a product; requirement for further capital; delay or
failure to receive board, shareholder or regulatory approvals; the
results of operations and such other matters as set out in the
Company's continuous disclosure on SEDAR at www.sedar.com. There
can be no assurance that such statements will prove to be accurate,
as actual results and future events could differ materially from
those anticipated in such statements.
Accordingly, readers should not place undue reliance on
forward-looking statements. Investors are cautioned that
forward-looking information is not based on historical facts but
instead reflects management's expectations, estimates or
projections concerning future results or events based on the
opinions, assumptions and estimates of management considered
reasonable at the date the statements are made. Although we believe
that the expectations reflected in such forward-looking information
are reasonable, such information involves risks and uncertainties,
and undue reliance should not be placed on such information, as
unknown or unpredictable factors could have a material adverse
effect on our future results, performance or achievements.
Should one or more of these risks or uncertainties materialize,
or should assumptions underlying the forward-looking information
prove incorrect, actual results may vary materially from those
described herein as intended, planned, anticipated, believed,
estimated or expected. Although the Company has attempted to
identify important risks, uncertainties and factors which could
cause actual results to differ materially, there may be others that
cause results not to be as anticipated, estimated or intended. The
Company does not intend, and does not assume any obligation, to
update this forward-looking information except as otherwise
required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE CanadaBis Capital Inc.
