MPX International's Wholly-Owned Subsidiary, Canveda Inc., Enters into a Supply Agreement with the Alberta Provincial Retail Regulator for Strain Rec(TM) Products
TORONTO, ONTARIO – TheNewswire – October 1, 2020 – MPX International Corporation (“MPX International”, “MPXI” or the “Corporation”) (CSE:MPXI); (CNSX:MPXI.CN); (OTC:MPXOF), a multinational diversified cannabis company, is pleased to announce an agreement dated August 7, 2020 between Canveda Inc. (“Canveda”), a licence holder under the Cannabis Act (Canada), and Alberta Gaming, Liquor & Cannabis ( “AGLC”) for the supply of cannabis under Canveda’s recreational brand, Strain Rec™. Initially, Canveda will supply several strains of unique, high quality flower which will be sold by retail outlets in the Province of Alberta, as well as through AlbertaCannabis.org. Additional product SKUs will follow as Canveda’s product offering diversifies. The agreement will continue until December 1, 2021, unless terminated earlier and may be extended upon mutual agreement of the parties for a maximum of 2 additional terms of up to 18 months each.
“We are very pleased to expand our Strain Rec™ brand offering into the Province of Alberta which has been very progressive in the cannabis retail space. We see this as a great opportunity for our products to become a main stay in the Canadian retail market,” said Michael Arnkvarn, Chief Operating Officer, Canada of MPXI. “Following the successful introduction of the Strain Rec™ brand in Saskatchewan in June, this supply agreement is an important step in our overall retail strategy which we continue to develop. The first shipment of products to Alberta was sent last week and marketing efforts to retail outlets have commenced, with product expected to be available for purchase in early October.”
“We feel that the private ownership concept of retail stores in Alberta will allow us more direct marketing opportunities and a quick acceptance of Strain Rec™ branded products by Alberta’s retailers,” noted W. Scott Boyes, Chairman, President and CEO of MPX International. “With agreements now in place for Alberta and Saskatchewan, we are in discussions to expand into other provinces to increase our reach to recreational customers in Canada. We are by no means shifting away from a medical focus of the cannabis business and we will continue to develop this sector to the fullest, both in Canada and internationally, but our past experience with MPX Bioceutical in the US has taught us that we need to be present in both the medical and adult use markets in order to optimize MPXI’s Canadian growth strategy.”
About MPX International Corporation
MPX International Corporation is a multinational diversified cannabis company focused on developing and operating assets across the international cannabis industry with an emphasis on cultivating, manufacturing and marketing products which include cannabinoids as their primary active ingredient. With current operations spanning four continents in Canada, Switzerland, South Africa, Malta and Australia as well as evolving partnership and distribution opportunities in other jurisdictions, MPXI continues to position itself as an emergent global participant in the cannabis industry.
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MPX International Corporation
W. Scott Boyes, Chairman, President and CEO
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