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Vancouver, British Columbia – September 28 2022 – Luff Enterprises Ltd., (CSE: LUFF) (“LUFF” or the “Company”) is pleased to announce that it has commenced sales on its recently acquired cannabis marketplace herbaldispatch.com (“Herbal Dispatch”).
LUFF has engaged over 50 licensed producers as potential suppliers with over 30 of them qualified as approved vendors with 127 SKUs approved for sale on the marketplace. It is expected that another 10 vendors and 170 SKUs will be added to the site in the coming weeks making Herbal Dispatch already one of the largest purveyors of medical cannabis products in Canada.
Medical cannabis sales in Canada show a lot of promise, with Health Canada reporting 257,059 registered medical patients at the end of December 31, 2021. They placed a total of 859,581 orders in the same year1. Veterans Affairs Canada also reported annual medical cannabis coverage for veterans totalling $119,000,000 in fiscal 2020-2021 with it expected to grow to $321,500,000 by fiscal 2025-20262. The Company believes its capital-lean and highly-scalable business model will capture a meaningful portion of this market.
LUFF CEO, Philip Campbell commented, “This marks an incredibly important milestone for LUFF, with Herbal Dispatch officially commencing sales in our home market of Canada. The pre-registration campaign has been overwhelmingly positive with over 32,000 engaged email recipients, 6,500 new unique accounts, and almost 1,000 members pre-registered and eligible to purchase from the site. We are excited to see strong early momentum in our customer registration. With the preliminary product offering available on September 27, 2022, we expect this to accelerate further.”
ABOUT HERBAL DISPATCH
Herbal Dispatch is a cannabis e-commerce platform dedicated to providing top quality products to informed consumers at affordable pricing and continuing its legacy as a trusted source for exclusive access to small-batch craft cannabis flower and a wide-array of other product formats. Members registered with Herbal Dispatch trust that the dedicated client care team will ensure a great experience, from ordering to delivery to your door, and can rest assured that everything is at or below retail/provincial prices.
ABOUT LUFF ENTERPRISES LTD.
Luff owns and operates leading cannabis e-commerce platforms in both Canada and the United States and is dedicated to providing top quality cannabis to informed consumers at affordable pricing. Luff’s flagship cannabis marketplace, Herbal Dispatch, is a trusted source for exclusive access to small-batch craft cannabis flower and a wide-array of other product formats.
Luff’s common shares trade on the Canadian Securities Exchange under the symbol “LUFF”.
FOR FURTHER INFORMATION:
Philip Campbell, CEO and Director
Email: [email protected]
Telephone: 250-419-7665
Sources:
1: https://www.canada.ca/en/health-canada/services/drugs-medication/cannabis/research-data/medical-purpose.html#a5
2: https://www.veterans.gc.ca/eng/about-vac/publications-reports/reports/departmental-audit-evaluation/2022-audit-cannabis-for-medical-purposes/3-0#3.7
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION:
Certain statements in this news release, including statements or information containing terminology such as “anticipate”, “believe”, “intend”, “expect”, “estimate”, “may”, “could”, “will”, and similar expressions constitute “forward-looking statements” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, that address activities, events, or developments that the Company or a third party expect or anticipate will or may occur in the future, including the Company’s future growth, results of operations, performance, and business prospects and opportunities are forward-looking statements. These forward-looking statements reflect the Company’s current beliefs and are based on information currently available to the Company. These statements require the Company to make assumptions it believes are reasonable and are subject to inherent risks and uncertainties. Actual results and developments may differ materially from the anticipated results and developments discussed in the forward-looking statements as certain of these risks and uncertainties are beyond the Company’s control. These risk factors are interdependent and the impact of any one risk or uncertainty on a particular forward-looking statement is not determinable. Examples of forward-looking statements in this news release and the key assumptions and risk factors involved in such statements include, but are not limited to, expanding the Company’s business into Canada and the future success of Herbal Dispatch. The successful execution of the Company’s growth initiatives is subject to a number of risks and uncertainties, including industry competition and future customer demand for the Company’s products, among others.
Consequently, all of the forward-looking statements made in this news release are qualified by these cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that the actual results or developments will be realized or, even if substantially realized, that they will have the expected effects on Luff. These forward-looking statements are made as of the date of this news release. Except as required by applicable securities legislation, the Company assumes no obligation to update publicly or revise any forward-looking statements to reflect subsequent information, events, or circumstances.
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