RISE Enters Commercialization Phase with Retail Sales in California
Growing retail revenue and momentum in the largest consumer cannabis market in the world
Toronto, Ontario--(Newsfile Corp. - August 20, 2018) - RISE Life Science Corp. (CSE: RLSC) (the "Company and/or "RISE") is poised for commercial success and leading the way among product and branding companies entering California, the largest cannabis market in the world, according to Bloomberg and other sources.
"We positioned our company for the future of this industry," commented Anton Mattadeen, CEO of RISE Life Science. "Reaching the consumer with products they love is our goal, and doing so in the largest cannabis market in the world is our target. We are now executing on that plan. RISE is now generating revenue with products on the shelves of 88 top retail outlets in Los Angeles and our footprint is expanding every day. We are generating real value for everyone involved — the consumer, our retail partners, and ultimately, our investors."
"These premium retail locations pave the way for further product launch opportunities in the exploding $3.7 trillion global wellness industry," added Mattadeen, citing a statistic from The Global Wellness Institute.
Following its recent acquisition of Cultivate Kind and Life Bloom Organics, RISE has leveraged its in-house capacity for sales and distribution, packaging and fulfillment, production, and retail marketing. Our CBD-based sexual wellness brand, Karezza, quickly built on the footprint already established by our Life Bloom Organics sleep and wellness products.
Over the next 12 months, both Karezza and Life Bloom Organics products will be distributed to a target network of 200+ premium retail locations across California. RISE has a dedicated, proven team of brand managers and specialists on the ground across Los Angeles and Orange County that make regular store visits to educate both retailers and consumers.
Both Karezza and Life Bloom will also soon be available for order via e-commerce websites, at karrezza.love and lifebloomorganics.com, respectively, with the ability to offer products to a massive and increasingly aware online audience. Our digital marketing effort, a perfect complement to our sales and distribution teams on the ground, will replicate our California success globally.
"I'm thrilled to see this early success for RISE," said Ryan Rocca, General Manager of RISE USA and Member of the Board of RISE Life Science Corp. "With our retail network access, we've been able to drive early awareness and sales of RISE products. Our lab in Orange County works directly with retail to develop top quality products with the best ingredients — the products that consumers need and want."
RISE products are developed from organic, U.S. Farm Bill hemp and utilize an FDA-compliant synergistic blend of herbs, adaptogens and essential oils formulated from botanicals.
RISE recently welcomed Rocca to the executive team and to the board of directors. In addition to his role in the cannabis industry, he has 25 years of experience in promotions, sponsorships and events, bringing emerging and top brands to the consumer marketplace.
As RISE continues to grow its portfolio of lifestyle brands that harness the therapeutic power of cannabis, the Company expects that insights gained from California will translate to future growth, sales, and distribution worldwide as the industry evolves, and as other countries legalize their markets.
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Cautionary Statement Regarding Forward-Looking Information
The Canadian Securities Exchange has not reviewed this news release and does not accept responsibility for the adequacy or accuracy of this news release.
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in RISE's periodic filings with Canadian securities regulators. When used in this news release, words such as "will, could, plan, estimate, expect, intend, may, potential, believe, should, target, goals, projections, anticipated" and similar expressions, are forward- looking statements. Forward-looking statements may include, without limitation, statements including the Company's expectations with respect to pursuing new opportunities and its future growth and other statements of fact.
Although RISE has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: general economic conditions; pending and proposed legislative or regulatory developments including the impact of changes in laws, regulations and the enforcement thereof; reliance on funding models; operational and infrastructure risks including possible equipment failure and performance of information technology systems; intensifying competition resulting from established competitors and new entrants in the businesses in which the Company operates; insurance coverage of sufficient scope to satisfy any liability claims; fluctuations in total customers; technological change and obsolescence; loss of services of key senior management personnel; privacy laws; leverage and restrictive covenants; fluctuations in cash timing and amount of capital expenditures; tax-related risks; unpredictability and volatility of the price of the Company's securities; dilution; and future sales of the Company's securities. Further risks include operational risks of operating in the U.S.; U.S. federal regulation risks; variation in U.S. state regulations; change of U.S. cannabis laws; security risks; risks related to permits and authorizations; risks on liability, enforcement complaints etc.; banking risks; marketing, sales, manufacturing and distribution risk regarding our product growth plans; changes in laws; limited operating history; reliance on management; requirements for additional financing; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult use marijuana industry; and regulatory or political change. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events. Accordingly, readers should not place undue reliance on forward-looking statements.