Sugarbud Launches First Cannabis 2.0 Products and New High Potency Cultivar in Alberta

CALGARY, Alberta, Dec. 21, 2021 (GLOBE NEWSWIRE) — Sugarbud Craft Growers Corp. (TSXV: SUGR, SUGR.DB, SUGR.WR, SUGR.WS, SUGR.WT,) (OTCQB: SBUDF) (“Sugarbud” or the “Company”) is pleased to announce the further expansion of the Company’s Craft Cannabis Collection with the launch of the Company’s first Cannabis 2.0 products under its own sales license along with the launch of its first 30%+ THC dried flower product – GMO Cookies.

Product Portfolio Expansion

Sugarbud GMO Cookies 3.5g Dried Flower | Sugarbud GMO Cookies is an indica-dominant hybrid strain created by crossing the popular GSC and classic Chemdawg. The buds are thin, long, open-structured and delicate, with a mix of olive green and purple, accentuated by orange hairs and a sugary coat of shimmering trichomes. Sugarbud’s GMO Cookies shows all the classic aromas of musty cellars, savory garlic, sweet spice, and earthy coffee. Total THC will range between 26-32% with a terpene profile of between 2-4%. “GMO Cookies is yet another fine example of our commitment to consumer satisfaction and the house-style and craftsmanship that has come to define Sugarbud Craft Cannabis – dense, sugary buds, exceptional terpene forward aromas and smooth flavors,” stated Sugarbud President and CEO, John Kondrosky.

Sugarbud Krypto Chronic #2 Flower Rosin | Sugarbud’s first flower rosin is an exceptional concentrate made through the solventless extraction of Sugarbud’s exclusive indica dominant hybrid genetic – Krypto Chronic #2.

Solventless extraction methods place a premium on maintaining the naturally occurring terpenes, flavors, aromas and cannabinoids throughout the entire process, ensuring that the full essence of the original dried flower is maintained. Sugarbud’s Krypto Chronic #2 flower rosin is another exceptional example of Sugarbud’s “House Style”, and embodies the same quality, consistency, flavor profiles and aromas consumers have come to expect from the Sugarbud Craft Cannabis Collection. Total THC will range between 60-70% with a total terpene profile of between 5-8%.

Sugarbud WC #11 | Made using CO2 extraction of Sugarbud’s exclusive indica dominant hybrid cultivar – Wedding Cake #11 – each 0.5g WC #11 vape cartridge is additive free and contains only 100% cannabis extract. The high terpene content comes from the careful subcritical CO2 extraction of its dried craft cannabis and the cannabinoids are then extracted using a supercritical CO2 extraction method. The result is high-quality terpene forward extract that offers consumers a flavor and aroma profile consistent with dried flower it is derived from – such as the distinct hints of smoky spice, citrus and pine.

“Building on the momentum that we have established with our recently launched Bahama Blizzard #11 dried flower and our expanded Mule Fuel and Krypto Chronic #2 Pre-Roll formats – we are very pleased to now be rolling out our first Cannabis 2.0 products under our own sales license. Entry into the Cannabis 2.0 segment is a major catalyst for growth moving forward and we expect to build upon the scope and reach of these initial launches in subsequent quarters,” concluded Mr. Kondrosky.

The Company expects 3.5g GMO Cookies Premium Craft Flower, Krypto Chronic #2 1.0g Flower Rosin and WC #11 0.5g Vape cartridges to be available for purchase from private cannabis retailers throughout Alberta and online at AlbertaCannabis.org and nationally to registered medical patients through CannMart.com in late December, 2021.

About Sugarbud

“Hand-Crafted Cannabis for a New Era”

Sugarbud is a consumer-driven craft cannabis company focused on the cultivation and production of superior, select-batch, craft cannabis products. Our vision and mission are to become a trusted and well-respected consumer brand renowned for providing exceptional high-quality craft cannabis products to legal markets by delighting the most discerning of cannabis consumers.

The Sugarbud Craft Cannabis Collection offers consumers “Hand-Crafted Cannabis for a New Era”. The Company is proudly Albertan and is proud to share Western Canada’s long tradition of exceptional craft cannabis with the most discerning of enthusiasts. Sugarbud strives to define the intersection of product craftsmanship, quality, and value for consumers in the Canadian craft cannabis space.

Sugarbud Craft Cannabis products are currently available to adult recreational consumers in the Yukon Territory, British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec and nationally to registered medical patients through CannMart.com.

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Forward Looking and Cautionary Statements

This news release contains forward-looking statements. More particularly, and without limitation, this news release contains statements concerning: Sugarbud’s assessment of future plans, operations and cannabis cultivation and processing, including sales, marketing and distribution opportunities; product quality; the development, production, sale and distribution of Sugarbud’s Craft Cannabis Collection, including new product lines and the properties, characteristics and launch timing thereof; the expected timing of retail availability of new products; future growth; and customer satisfaction; the Company’s annual general and special meeting and the timing thereof. When used in this document, the words “will,” “anticipate,” “believe,” “estimate,” “expect,” “intent,” “may,” “project,” “should,” and similar expressions are intended to be among the statements that identify forward-looking statements. The forward-looking statements are founded on the basis of expectations and assumptions made by Sugarbud. Forward-looking statements are subject to a wide range of risks and uncertainties, and although Sugarbud believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements including, but not limited to: currently contemplated expansion and development plans may cease or otherwise change; production of cannabis may be lower than expected; ability to ship cannabis products may be lower than expected; demand for Sugarbud’s products may be lower than anticipated; results of production and sale activities; results of scientific research; changes in prices and costs of inputs; demand for labour; demand for products; failure of counter-parties to perform contractual obligations; failure to maintain consumer brand recognition and loyalty of customers; reliance on relationships with wholesalers and retailers for distribution of products and failure to maintain strategic business relationships; intense competition, including from illicit sources; uncertainty and continued evolution of markets; product liability litigation; reliance on information technology; infringement on intellectual property; failure to benefit from partnerships; sensitivity of end-customers to increased sales taxes and economic conditions; failure to comply with certain regulations; departure of key management personnel or inability to attract and retain talent; actions and initiatives of federal and provincial governments and changes to government actions, initiatives and policies and the execution and impact thereof; the ability to implement corporate strategies; the state of domestic capital markets; the ability to obtain financing; changes in general market conditions; industry conditions and events; the size of the medical marijuana market and the recreational marijuana market; government regulations, including future legislative and regulatory developments involving medical and recreational marijuana; construction delays; risks inherent in the agricultural business, such as insects, plant diseases and similar agricultural risks which can have a significant impact on the size and quality of the harvest of cannabis crops; competition from other industry participants; and other factors more fully described from time to time in the reports and filings made by Sugarbud with securities regulatory authorities. In addition, the Company cautions that current global uncertainty with respect to the spread of the COVID-19 virus, and variant strains of the virus, and its effect on the broader global economy may continue to have a significant negative effect on the Company. While the precise impact of the COVID-19 virus on the Company remain unknown, rapid spread of the COVID-19 virus may continue to have a material adverse effect on global economic activity, and can result in volatility and disruption to global supply chains, operations, mobility of people and the financial markets, which could affect interest rates, credit ratings, credit risk, inflation, business, financial conditions, results of operations and other factors relevant to the Company. Please refer to Sugarbud’s most recent annual information form and management’s discussion and analysis for additional risk factors relating to Sugarbud, which can be accessed under Sugarbud’s profile on www.sedar.com. Except as required by applicable laws, Sugarbud does not undertake any obligation to publicly update or revise any forward-looking statements.

Neither the TSXV nor its regulation services provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.