Gaia Grow's Reports July Sales of $258,000 Canadian Cannabis Laboratory Tru Extracts Begins Commercial Production and Ships Initial White Label Product
Vancouver, British Columbia – TheNewswire - August 9, 2022 – Gaia Grow Corp. (the “Company” or “Gaia”) (CSE:GAIA) (Frankfurt:GG0) is pleased to announce that the Company had a non recurring sale for $215,000 of Hemp from its 2019 crop in July. and Gaia’s wholly-owned subsidiary, TruExtracts Laboratories (“TRU”), has completed its first delivery of wholesale product. The initial order of 2kg of solventless extracted cannabis was shipped with revenue of $28,000CDN generated, a second order also shipped generating another $15,000CDN.
Shipments are expected to continue on a regular basis and ramp up as the facility begins scaled production and sales efforts.
With the receipt of the sales amendment, the Company has begun the steps to commercially produce its cannabis edibles. Test samples have already been sent out on several of its gummy edibles. TRU has also begun testing and commercial production of Spaced Food cannabis edibles.
"TRU has now started generating revenue and getting products to market”, said Frederick Pels, CEO of Gaia. "The products manufactured here are exceptional and I fully expect to see strong growth as sales and production increase. I look forward to updating shareholder with TRU’s progress"
“We expect to see significant demand in the marketplace for the high quality products being manufactured here at TRU.” said Andre Sinclair, COO of TRU. “In anticipation of strong sales growth projections, we are working rapidly to create current shelf-ready products as well as continue to develop additional products for near term launch.”
TruExtracts Laboratories was created for high-capacity extraction and production to meet global demand. TRU is one of Western Canada’s largest cannabis and hemp processors, with a 12,500 square foot state of the art facility in Calgary. The facility is Health Canada licensed and fully operational, with an expansion capability of an additional 16,000 additional square feet. Services include toll processing, THC, CBD extractions and isolates, as well as white label service and cannabis THC and CBD products.
For more Information, please visit their website at https://truextractslabs.com
Gaia Grow is an Alberta-based vertically integrated licensed hemp company with subsidiaries licensed for cannabis and hemp processing, extraction, product formulation, novel product development and cannabis retail. For more information about the Company, please visit www.GaiaGrow.com
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.