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type here…Search Sign in Welcome! Log into your account your username your password Forgot your password? Get help Password recovery Recover your password your email A password will be e-mailed to you. Lowell Farm Services begins processing third-party cannabis at new Salinas facility Following the acquisition of the licensed facility in June 2021, Lowell has begun B2B operations serving regional growers with processing services
By Patricia Bartell July 20, 2021 Share Facebook Twitter Pinterest VK WhatsApp
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SALINAS, California, July 20, 2021 (GLOBE NEWSWIRE) – Lowell Farms Inc. (CSE: LOWL; OTCQX: LOWLF), a California-based vertically integrated cannabis company with advanced production capabilities including cultivation, extraction, manufacturing, brand sales, marketing and distribution, has begun accepting third-party cannabis for its processing at its newly commissioned and fully operational processing facility in the Salinas Valley.
The inaugural batch of cannabis was accepted for processing on July 19 and is an exciting milestone for Lowell Farms, which acquired the facility in late June. Since the announcement, there have been a lot of requests and interest from other growers and farmers, allowing the team to show results from launch and onward.
Lowell Farms’ new business unit is called Lowell Farm Services (“LFS”), which is dedicated to fee-based processing services for regional growers in the Salinas Valley area, one of the world’s largest cannabis growing regions. largest and fastest growing in the country. The 40,000-square-foot facility includes eight state-of-the-art, environmentally controlled drying rooms, and is capable of processing $ 400 million worth of cannabis flowers annually. With 90 flexible trimming stations using a combination of mechanized and manual trimming services in the parting and trimming area, the facility delivers consistent results while solving a significant problem for producers outsourcing drying services.
“Having this facility up and running and successfully processing cannabis products so quickly speaks to the commitment and passion our team has for our industry and cannabis consumers,” says Lowell Farms Co-Founder and CEO Mark Ainsworth. “This adds an entirely new source of income to Lowell Farms and will only increase what we will be able to achieve in the future.”
In the coming weeks, Lowell Farms will begin using the facility for its own cannabis product, and the company is developing one of the country’s first fully automated end-to-end pre-roll manufacturing lines to be housed at the facility.
ABOUT LOWELL FARMS INC.
Lowell Farms Inc. (CSE: LOWL; OTCQX: LOWLF) (the “Company”) is a California-based vertically integrated cannabis company with advanced production capabilities that support every step of the supply chain, including growing, growing, brand extraction, manufacturing and sales. , marketing and distribution. Founded in 2014 as Indus Holdings, Inc, Lowell Farms cultivates artisanal cannabis with a deep love and respect for the plant, and prides itself on using sustainable materials, from seed to sale, to produce a broad portfolio of original and licensed products. awarded. brands, including Lowell Herb Co, Cypress Cannabis, MOON, and Kaizen Extracts, for licensed retailers statewide.
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Forward-Looking Information and Statements
This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities law and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the Securities Litigation Reform Act. Private of the United States. 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or current information or condition, but rather represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and beyond the control of the company. In general, such forward-looking information or forward-looking statements can be identified by using forward-looking terminology such as “plans”, “expected” or “not expected”, “expected”, “budget”, “scheduled”. “,” Estimates “,” forecasts “,” intends “,” anticipates “or” does not anticipate “, or” believes “, or variations of such words and phrases or may contain statements that certain actions, events or results” may ” , “Could”, “could”, “could” or “will be taken”, “will continue”, “will occur” or “will be achieved.” Forward-looking information and forward-looking statements contained in may include, but are not limited to, the Company’s ability to successfully achieve its business objectives, including as a result of the described acquisition, and expectations of other economic, commercial, and / or competitive factors. No guarantee can be made that such forward-looking information and statements will prove to be accurate. and actual results and future events could differ materially from those anticipated in such forward-looking information and statements. This information and forward-looking statements reflect the current beliefs of the Company and are based on current information. ually available to the Company and in assumptions that the Company believes are reasonable.
Forward-looking information is subject to known and unknown risks, uncertainties, and other factors that may cause the Company’s actual results, level of activity, performance, or achievements to be materially different from those expressed or implied in such forward-looking information. . Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general conditions of the capital market and market prices of securities; operating and development costs; competence; changes in legislation or regulations that affect the Company; the timing and availability of external financing on acceptable terms; the company’s available funds and the anticipated use of such funds; favorable production levels and outputs; the stability of the prices of cannabis products; the level of demand for cannabis products; the availability of external service providers and other inputs for the company’s operations; lack of qualified and qualified manpower or loss of key people; and risks and delays resulting from the COVID-19 pandemic. A description of the additional assumptions used to develop such forward-looking information and a description of the additional risk factors that may cause actual results to differ materially from the forward-looking information can be found in the Company’s disclosure documents, such as the disclosure form. annual information presented by the Company. on the SEDAR website at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause the results to be not as anticipated, estimated or anticipated. Readers are cautioned that the above list of factors is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking information, as there can be no guarantee that the plans, intentions or expectations on which they are based will be produced. The forward-looking information contained in this press release is expressly qualified by this cautionary statement.
The forward-looking information contained in this press release represents the Company’s expectations as of the date of this press release and, accordingly, is subject to change after that date. However, the Company expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise, except as expressly required by applicable securities law.
Neither the Canadian Stock Exchange nor its Regulation Services Provider has reviewed or accepts responsibility for the adequacy or accuracy of the content of this press release.