SWEET EARTH PROVIDES UPDATE ON ITS EUROPEAN EXPANSION
VANCOUVER, B.C. May, 2020 – Sweet Earth Holdings Corp. (the “Company” or “Sweet Earth”) is pleased to provide an update on its European operations. In 2019 the Company had signed a long-term lease agreement (the “Lease Agreement”) in Los Barrios, Spain, a region renowned for its temperate climate and agricultural industry.
Sweet Earth has strategically secured the location near its European headquarters, which is also located in the province of Cadiz, Spain. The Lease Agreement, which extends for a minimum of five years, allows the Company to secure approximately 22 acres with an option for future lease extension and land expansion. In addition, the Company has recently purchased 450 kilograms of high-grade Earlina 8FC seeds.
Earlina 8FC seed is an industrial hemp strain that's been authorized for cultivation in the European Union (“EU”). This strain was developed in France and is grown in order to produce hemp seeds rich in plenty of essential oils; highly nutritious and beneficial for both people and animals. Its key characteristic is a CBD yield of 2-3% with a guaranteed less-than 0.2% THC content, an essential European Community requirement. While North American hemp production allows for plants of up to 0.3% THC, the European Industrial Hemp Association (“EIHA”) adheres to more stringent EU policies.
The Federal Law and Policy, International, FDA, Hemp/CBD clearly emphasizes that it is not recommended to import CBD products from outside the EU. Hemp production and CBD products are legal throughout the continent, other than Slovakia but laws differ from country to country. Sweet Earth’s expansion into Los Barrios, Spain will allow it to produce locally, leverage its EU distribution relationships, augment research and development for the EU market, and expedite getting products on shelfs throughout the continent.
Figure 1: Hemp Cultivation in the EU
The EU accounts for approximately 25% of global hemp production
Sweet Earth has opted to expand into the Spain for its EU strategy.
About Sweet Earth
Sweet Earth is a vertically integrated “farm to shelf” hemp grower with a farm in Applegate, Oregon, that maintains a full line of CBD and Hemp products for the US and global market. In addition, the Company has secured farmland in Spain for the 2020 growing season.
Sweet Earth’s products combine CBD with herbal and organic ingredients, all of which are selected for their beneficial properties to soothe, rejuvenate, and reduce inflammation. In addition to high-end finished products, Sweet Earth prides itself on sustainability by minimizing the use of plastics in both production and packaging.
Sweet Earth’s in-house genetics team has been working on its own proprietary hemp strain. This strain has been grown in its indoor greenhouse resulting in high yielding CBD rich flower. Sweet Earth looks forward to planting this new strain outdoors for the 2020 season
As announced in a news release by Seaway Energy Services (TSX.V: SEW) that announced conditional approval from the Canadian Securities Exchange (“CSE”) to complete an amalgamation with Sweet Earth Holdings Corp. (the “Transaction”). The resulting issuer will trade on the CSE under the ticker SE.
ON BEHALF OF THE BOARD
Chris Cooper Director
Neither the CSE nor TSX Venture Exchange accepts responsibility for the adequacy or accuracy of this release
This news release contains forward-looking statements relating to the timing and completion of the Transaction, and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the Transaction and the future plans and objectives of the Company or Sweet Earth are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's, or Sweet Earth’s, expectations include the failure to satisfy the conditions to completion of the Transaction or the conditions for listing on the CSE and other risks detailed from time to time in the filings made by the Company with securities regulations or compliance with the policies of the CSE or the TSXV, as the case may be.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company or Sweet Earth. As a result, the Company and Sweet Earth cannot guarantee that the Transaction will be completed on the terms and within the time disclosed herein or at all. The reader is cautioned not to place undue reliance on any forward-looking information. 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. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release.