beverage Archives - Green Market Report

StaffMay 25, 2021
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House of Saka is continuing its push to become the leading luxury cannabis-infused beverage. Last month the company launched its first single-serve sparkling beverage called “Spark” and the first flavor on the shelf is “Mimosa.” It uses an organic cannabis emulsion with a Mimosa-strain-specific live resin that delivers all the taste and feels of a traditional mimosa without the hangover. It is available in single-serve, 187ml champagne bottles with a micro-dose of 5mg THC per bottle.

Following that product launch, House of Saka announced that it has added Aaron Silverstein to the role of Vice President of Production and Business Development. Silverstein is one of the world’s leading experts on cannabis-infused wine and is considered an authority on non-alcoholic wine and cannabis-infused beverages. With a degree in Enology and Viticulture from Cornell University in New York, he has worked for multiple years as a winemaker, producing traditional wines in Europe and the United States. In his new role, Silverstein will be responsible for driving new strategic business partnerships and revenue sources, bringing the luxury experience of House of Saka to consumers wherever cannabis is legal.

“I’ve always been enamored with the House of Saka brand,” said Silverstein. , “Joining House of Saka feels more like going home than starting a new position.”


Prior to joining House of Saka, Silverstein was the Managing Director at non-alcoholic beverage manufacturer BevZero, where he led the development, manufacture, and commercialization of more than twenty different cannabinoid-infused wines.

“We couldn’t be more excited to welcome Aaron to the House of Saka team,” says House of Saka CEO, Tracey Mason. “As an authority on alcohol-removed wine, Aaron makes another great addition to our team of world-class beverage professionals.” Aaron serves on the Board of the Cannabis Beverage Association and, in 2020, was named by Benzinga as one of the most pivotal players in the cannabis and hemp-infused beverage sector.

 

Editors Note: Green Market Report Co-founder Cynthia Salarizadeh is a C0-founder of House of Saka.


Debra BorchardtJanuary 29, 2019
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Sproutly Canada, Inc. (OTCQB: SRUTF)  announced financial results for the three and nine months ended November 30, 2018. The company reported a net loss of C$2.8 million or $0.02 per diluted share for the quarter versus last year’s net loss of C$473,405 for the same time period. The company also delivered a $9.5 million net loss for the nine months ending November 30.

In the filing, Sproutly noted that it has not generated any revenues from operations and has incurred losses since inception. The company has an accumulative deficit of $12,312,832 and negative cash flows from operating activities for the period from January 17, 2017 to November 30, 2018. To date, the company’s activities have been funded through financing activities.

“We continued to make significant progress toward a number of our key corporate initiatives in Q3. We completed a $20.7 million bought deal financing, which strengthened our balance sheet and provides us the ability to accelerate our objectives for fiscal 2020. “, said Keith Dolo, Chief Executive Officer of Sproutly. “In addition, we added key personnel and advisors, and began cultivation at THR. With the completion of these milestones and the proceeds of our recent financing, we are well positioned to execute on our plans to advance the business towards our short term and midterm goals.”

The company has a cash position of C$11.5 million as at November 30, 2018, up from $0.3 million as at August 31, 2018, as a result of completing a $20.7 million bought deal financing in the quarter. Sproutly also reported working capital of $4.2 million on November 30, 2018.

The company said in a statement that it completed the development and formulation of an initial portfolio of functional beverages with its proprietary naturally water soluble cannabinoids (“Infuz2O”). The beverages combine recently licensed rights for the proprietary water-soluble mineral platform (“MiST Platform”) with Infuz20. The initial portfolio consists of three separate cannabis/hemp infused beverages that provide the following functions: a) Focused Energy; b) Stress relief and Relaxation; and, c) Restful sleep support.


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