PharmaDrug's Super Smart Begins to Work with Essential Good to Develop Its Brand and Build an Innovative Online Retail Platform
Toronto, Ontario--(Newsfile Corp. - October 13, 2020) - PharmaDrug Inc. (CSE: BUZZ) (OTC Pink: LMLLF) ("PharmaDrug" or the "Company") is pleased to announce that its wholly-owned subsidiary Interrobang Ltd. (doing business as Super Smart) ("Super Smart") has begun to work with Essential Good LLC ("Essential Good") to develop its Slim Winkel brand and establish an online retail platform that will focus on functional mushrooms and other legal medical plants and that within The Netherlands will include the sale of psilocybin truffles.
Essential Good is a full-service advertising agency based in Oakland, California. The company was founded in 2020 by advertising veteran, Daniel Stein, who also founded Evolution Bureau in 2000. Essential Good was created with the mission of developing modern brands in culturally progressive and highly regulated categories, including cannabis and psychedelics. The agency's client roster features some of the top national and international brands in the cannabis industry, including Bloom Farms, Dark Heart Nurseries, Harborside, AWH, Defonce, Rebel Coast, Keef Brands and DNA Genetics. For more information about Essential Good, visit essentialgood.com.
The Company will work with Essential Good to develop the brand for its new concept Slim, the Dutch word for smart. Super Smart's plan is to create an elevated and innovative version of Smart Shop; one that focuses on presenting psilocybin truffles as a wellness product for improved cognitive performance and potential treatment of ailments. The concept will also include functional mushrooms and other legal medicinal plants and natural substances. The brand and concept will be used for physical locations, the online platform and white label products.
The company will also work with Essential Good to develop the Slim Winkel e-commerce platform. Essential Good has significant online retail experience and is currently developing an online e-commerce platform for a major American Cannabis Multi State Operator. The Slim Winkel online platform will be an innovative e-commerce website unlike any of the current operators in the sector. The online store will sell psilocybin truffles as well as functional mushrooms and other legal wellness plants. The online retail store will also be available outside of the Netherlands where will not include psilocybin truffles.
"We are extremely excited to be working with Slim Winkel to help the launch the company and bring the brand to life," said Essential Good Founder & CEO Daniel Stein. He added, "We are huge believers in the power of psilocybin for health and wellness and honored that the company has entrusted us to help them spread the word."
Super Smart's President Harry Resin also commented, "It's great to be working with such experienced marketers like the team at Essential Good. Psychedelics are the next level in the world of medicinal plants and so I'm quite excited to be working with such a knowledgeable team in the field of consumer facing plant medicine brands. I really feel like their insights will help us to establish a core brand in the fledgling space."
Super Smart's management believes that having an online platform will make it easier to launch the brand and will also serve as a better way to generate revenue while the pandemic continues to persist and affect physical retail businesses across most sectors. That being said, the company has already started working with retail brokers to identify and secure prime retail locations that have been made available due to the pandemic. The retail brokers have specific experience with Smart Shops and will assist in obtaining licenses in jurisdictions that require one. In the meantime, the Company is still in discussions with several Smart Shop owners, but is waiting for further sales data to determine the appropriate purchase price.
About PharmaDrug Inc.
PharmaDrug Inc. is building an international controlled substance and natural medicine company with a focus on Europe. The Company owns 80% of Pharmadrug GmbH, a German medical cannabis distributor, with a Schedule I European Union narcotics license allowing for the importation and distribution of medical cannabis to pharmacies in Germany and throughout the EU. The Company also owns 100% of Super Smart, an early-stage retail company focused on consolidating the fragmented Dutch smartshop market. Smartshops are retail establishments in The Netherlands that specialize in the sale of psychoactive substances including psychedelic truffles.
For further information, please contact:
Daniel Cohen, Chairman and CEO
Caution Regarding Forward-Looking Information:
THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED NOR DOES IT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results of the Company. Forward looking statements in this press release relate to the integration of the Smart Shop business, anticipated volume growth in the Company's German business and the introduction by the Company of its own brand of medical cannabis. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances. The Company's securities have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. Persons", as such term is defined in Regulations under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful. Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein, such as, but not limited to dependence on obtaining regulatory approvals; the ability to locate additional supply of medical cannabis, owning interests in companies or projects that are engaged in activities currently considered illegal under United States federal law; changes in laws; limited operating history, reliance on management, requirements for additional financing, competition, hindering market growth; regulatory and political change. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
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