The Hash Corporation Implements Custom-Made System for Making Bubble Hash Jointly Designed with Maratek
The Company Stands to Earn a Royalty from Maratek's Potential Commercialization of the Unique Bubble Hash System
Toronto, Ontario--(Newsfile Corp. - September 14, 2021) - The Hash Corporation (CSE: REZN) ("HashCo" or the "Company"), a business focusing on the production of hashish and other premium cannabis products using the adaption of old-world traditions, is pleased to announce that it has installed and begun operating a unique, custom-designed system for making isolated bubble hash (the "Custom Bubble Hash System") that was developed in collaboration with Maratek Environmental Inc. ("Maratek").
Based in Bolton, Ontario, Maratek is a market leader in professionally engineered solvent recycling and cannabis and hemp extraction technologies. Subject to the terms of the General Service Agreement (the "Agreement") between HashCo and Maratek, the Company is entitled to earn a 1.5% royalty on revenues generated by Maratek from the sale of the Custom Bubble Hash System over a five-year period from the date of the Agreement.
HashCo has a vision of being the brand most preferred by hash consumers in Canada, and the partner-of-choice for licenced producers, as the legal market for this classic category of cannabis concentrate products continues to grow. The Custom Bubble Hash System was recently delivered to HashCo within the facility of its previously announced collaborator, Medz Cannabis Incorporated, which is strategically located near the Toronto Pearson International Airport.
It was designed not only to enable the Company to produce a wide range of bubble hash products of high quality, but also at a level of scale that is expected to lower per-unit costs and increase gross margins. With the Bubble Hash System now in place, the Company can advance the development of new HashCo-branded SKUs and while-label products for the Canadian adult use recreational cannabis market.
"The design, and installation of the Custom Bubble Hash System is a significant milestone for our Company as it provides a competitive advantage for HashCo that is not possessed by anyone else in our industry. HashCo is now strongly positioned to execute on its goal of safely delivering authentic hashish experiences crafted to modern standards and regulations," said Chris Savoie, the Chief Executive Officer and Director of HashCo.
"I would like to thank Maratek for collaborating with us on the design and fabrication of the Custom Bubble Hash System and I appreciate their professional and innovative approach along the way. I am optimistic that our unique Custom Bubble Hash System will attract interest from other companies in the rapidly growing global cannabis industry and that HashCo will be able to earn royalties from Maratek's facilitation of those expected inquiries," added Mr. Savoie.
"Maratek develops solutions for the Cananbis & Hemp market by working together with our clients to develop the ideal solutions to their problems. HashCo was the ideal partner for Maratek here, with their depth of knowledge around cannabis and hash products, as well as their team's desire to work with us to develop their ideal Bubble Hash Solution," said Kyle Georges, Vice President, Sales & Business Development, of Maratek.
About The Hash Corporation
The Hash Corporation ("HashCo") is a Canadian company positioning itself to focus on the production and sale of cannabis-based hashish and other cannabis products. HashCo intends to apply its separation and curing techniques to produce a suite of high-quality cannabis resin products, which are all-natural and free of additives and carcinogenic solvents. The Company intends to tailor its product offerings to pay tribute to historic traditions, fragrances and tastes, while upholding the highest health and safety standards.
As of the date of this press release, HashCo is actively seeking and developing partnerships and collaborations with licensed cultivators and other strategic partners within Canada, with the goal of crafting and introducing to the regulated market authentic products which reflect quality and innovation.
Maratek is a Canadian based, award-winning, industry leader which has proudly served industrial manufacturers globally since 1967. We have incorporated this experience into our expansion in to the cannabis & hemp industry to provide safe, automated and efficient solutions to our customers. For any inquiries regarding the new Maratek Trident Series Bubble Hash Solution, please reach out to firstname.lastname@example.org.
For additional information on the Company:
Chief Executive Officer and Director
Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or the negative of these terms and similar expressions. Forward-looking statements necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. The forward-looking statements included in this news release are made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities laws. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
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