TORONTO, July 27, 2023 – Glow LifeTech Corp. (CSE: GLOW) (OTCQB: GLWLF) (FSE: 9DO) (“Glow” or the “Company”) is pleased to announce the upcoming launch of multiple in-house cannabis consumer brands powered by its portfolio of proprietary ingredient technologies. The Company expects to commercially deploy its innovative technology and products into the Canadian cannabis market as early as Q3 2023.
“By launching our own in-house CPG brands and products, we are able to expedite the route to market for our proprietary ingredients and ensure an optimal consumer experience, all while demonstrating the success of our technologies in one the largest cannabis markets in the world,” said Rob Carducci, Chief Commercial Officer, Glow LifeTech. “We have multiple avenues for value creation and CPG products unlock a new vehicle to build the B2B business, by showcasing our technology in real-world settings and adding additional brand and formulation IP that can be licensed around the world.”
“Glow has developed a portfolio of cutting-edge ingredient technologies, in both liquid and powder formats, that gives us incredible flexibility in formulating market-leading cannabis-infused products,” said Tom Glawdel, Chief Operating Officer, Glow LifeTech. “We expect the remainder of 2023 to be an impactful time for Glow, as we have a clear path to getting our innovative products onto the marketplace for consumers to start experiencing.”
Versatile Technology Platform
Glow has built a versatile technology platform that allows the Company to support a variety of innovative product formats including drops, sprays, capsules, drink mixes, gummies, infused-foods, and more. The Company recently announced it has developed a proprietary, water-soluble cannabis powder technology, which expands the Company’s technology portfolio to both liquid and powder cannabinoid ingredients (see July 6, 2023 release), building on its existing liquid MyCell® Technology. Glow’s portfolio of water-soluble cannabis ingredients including THC, CBD, CBN and CBG, are designed for optimized absorption, great taste, rapid onset and a more consistent and predictable cannabis experience.
Multiple Growth Vectors
Launching its own in-house brands demonstrates how having a flexible technology platform and control over its own proprietary ingredients and brands, provides the Company optionality for multiple revenue streams which could include:
- In-house brands: Fully-owned CPG brands and products to capture greater margin
- Technology/IP licensing: licensing delivery technologies, formulations or brands around the world in legal markets.
- Ingredients sales: B2B sales of proprietary ingredients for use in infused products
- Development partnerships: projects creating novel formulations and products for strategic partners
Asset-light Operations, Built to Scale
The Company has built an efficient, asset-light cannabis production operation with a factor-in-factory manufacturing partnership in Toronto, Canada, that is designed to scale and minimize operating costs. With the processing facility built and equipment commissioned, it will house all of Glow’s cannabis-related R&D activities, serving as the Company’s cannabis production centre of excellence to develop technologies and products for the global market. This single licensed production location provides the Company the necessary production capacity to produce a diverse portfolio of cannabis products to service the Canadian market nationally, across both adult-use and medical cannabis markets.
Glow’s goal is to create novel technologies, ingredients and products that offer a competitive advantage to its proprietary brands. Additionally, the company seeks to forge licensing and manufacturing partnerships with strategic allies as part of its vision for global expansion.
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About Glow LifeTech Corp.
Glow LifeTech is a Canadian-based biotechnology company focused on producing nutraceutical and cannabinoid-based products with dramatically enhanced bioavailability, absorption and effectiveness. Glow has rights to the groundbreaking, plant-based MyCell Technology® delivery system, which transforms poorly absorbed natural compounds into enhanced water-compatible concentrates that unlock the full healing potential of the valuable compounds.
James Van Staveren
Glow LifeTech Corp.
TF. 855-442-GLOW (4569)
EU Investor Relations
+49 (0) 177 774 2314
Forward-looking Information Cautionary Statement
Except for statements of historic fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. There are no assurances that the commercialization plans for the technology described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which filings are available at www.sedar.com
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