Lotus Sees Strong Demand and an Undersupply of High-Quality Product in the Market
Ryan Allway
October 19th, 2020
Uncategorized
As recently reported by the Ontario Cannabis Store, during the April 1, 2020 to June 30, 2020 period, cannabis flower with a THC% greater than 20% sold 101x and 161x more on the Ontario Cannabis Store website and in retail stores, respectively.
Source: Ontario Cannabis Store – A Quarterly Review
During the June to October period, Lotus’ cannabis flower averaged a THC% of approximately 25% and the Company saw an increased demand for its product nationally on a wholesale basis. The Company’s internal research also indicates a 1.2% market share of total sales in the Ontario flower market since its collaborative strain launch with Kolab Project. With our low cost of production and the strong demand for a premium product, Lotus has the opportunity and the reason to expand production further in a market that has lagged on the need for product quality.To learn more about Lotus, download our most recent investor presentation here.
ON BEHALF OF THE BOARD:
Lotus Ventures Inc.
“Dale McClanaghan”
Dale McClanaghan, President and CEOAbout Lotus Ventures Inc.
Lotus Ventures Inc. (CSE: J) is the publicly traded licensed producer that owns Lotus Cannabis Co., a premium-craft cannabis brand in Canada. Lotus grows rare and new-to-market strains of cannabis, while providing consistency and reliability through its innovative purpose-built facility that was created in BC’s North Okanagan region. The facility was designed for the ideal growing conditions that cannabis plants need to thrive in, using a high-performance harvest schedule with fresh biweekly harvests. Lotus has decades of growing experience and uses an entirely handcrafted production process created by one of the region’s most knowledgeable growing teams.For Further Information:
President & CEO
Dale McClanaghan
dalemcclanaghan@gmail.com
604-644-9844Investor Relations
Daniel McRobert
daniel.mcrobert@lotusventures.ca
604-842-4625To learn more, visit https://lotuscannabis.ca/ or follow us on Twitter: @lotuscannabisco Facebook: @lotuscanna Instagram: @lotuscannabisco LinkedIn: @lotuscannabisco
Forward-Looking Information:
The information contained within this news release has been prepared by Lotus Ventures Inc. This document includes certain statements that are not descriptions of historical facts but are forward-looking statements. Such statements include, among others, those concerning our expected financial performance and strategic and operational plans, our future operating results, our expectations regarding the market for medical and recreational cannabis products, our expectations regarding the continued growth of the medical and recreational cannabis market, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Users are cautioned that any such forward-looking statements are not guarantees of future performance and that a number of risks and uncertainties could cause our actual results to differ materially from those anticipated, expressed or implied in the forward-looking statements. These risks and uncertainties have not been documented or mentioned in this document nor other communications made by the company. The words “believe,” “expect,” “anticipate,” “project,” “targets,” “optimistic,” “intend,” “aim,” “will” or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. The Company assumes no obligation and does not intend to update any forward-looking statements, except as required by law.The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
Website
Copyright © 2020 Lotus Ventures Inc. All rights reserved.Our mailing address is:
Suite 1010, 1030 West Georgia Street
Vancouver BC, V6E 2Y3
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.
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