Sproutly Canada Inc. (SPR:CSE; SRUTF:OTCQB) announced in a news release how it intends to bring its APP technology to the Canadian market by innovatively commercializing products.
"The Company's focus has always been on commercializing technology that has the ability to reshape the way that cannabis products are formulated, ingested and experienced by consumers. . .The APP (aqueous phytorecovery process) technology is completed, poised and ready for applications in high value consumer products segments such as oils, edibles and beverages," Sproutly CEO and Director Keith Dolo said in the release.
The cannabis firm's plan is fourfold. It aims to sell Infuz2O for use in cannabis beverages and other formulations and to sell Bio Natural Oil for use in strain-specific edibles and other products. It also intends to develop a product portfolio showcasing Sproutly branded products for launch into the cannabis market and to align its cannabis flower cultivation with its branding efforts.
In pursuing these objectives, the company should accelerate the time until it attains greater revenue and profitability, diversify its revenue sources and bolster its working capital. Also, it should derisk the "cannabis beverage strategy by opening up to partnering and supplying multiple customers with formulated products to address industry issues," the release explained.
"Moosehead continues to be a key part of our story. The tremendous amount of work that Sproutly and Moosehead have completed to date gives us a great deal of confidence that our collaborative beverage products will be unmatched and stand alone in the beverage category," Dolo added.
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