ROSH HAYIN, ISRAEL / ACCESSWIRE / March 14, 2022 / Cannibble Foodtech Ltd., (CSE:PLCN) ("Cannibble" or the "Company") an Israeli food tech company that develops and manufactures food mix products infused with non-active and active cannabinoids where legal to do so, announces that it has received its first commercial order from a leading US-based supermarket chain. The order is for two of Cannibble's recently developed products, The Pelicann protein brownie mix and The Pelicann protein chocolate cake mix. The initial order for these products will be sold in seven store locations.
Yoav Bar-Joseph, Cannibble's CEO, commented on the order; "We are extremely pleased to have our The Pelicann products in a leading US supermarket chain, as this is a milestone for Cannibble. This commercial order is our first from a major US retail chain and we believe it shows that our products are gaining momentum in the US market. We see this as the first step in establishing The Pelicann as a major hemp edible brand in the US."
Investor Relations Agreement
The Company also announces that it has engaged Toronto-based Guerilla Capital ("Guerilla") for a three-month term to provide marketing and social media consulting services to Cannibble that include investor relations activities as defined under the policies of the CSE.
Cannibble's contract with Guerilla Capital provides for an aggregate payment of CS22,500 for the contract term, payable half in cash and half in ordinary shares of Cannibble in equal payments over the contract term. The contract also provides for an option grant to Guerilla of 150,000 stock options to acquire shares of Cannibble with an exercise price of C$0.93. To the knowledge of the Company, Guerilla does not currently own any shares of Cannibble.
About Cannibble
Cannibble is an innovative Israeli food tech company that develops and manufactures food mix products that are enhanced variously with hemp seeds, hemp protein, non-active and active cannabinoids, where legal to do so. Cannibble develops proprietary formulas for powder-based edibles that are subsequently enhanced with active cannabinoids, marketed under our brand name The Pelicann. Cannibble has produced over 100 product SKUs, of which 32 have been manufactured to date.
For more information about Cannibble and its business, visit www.cannibble.world.
Yoav Bar-Joseph, CEO and director
Email: yoav.b@cannibble.world
Cautionary Statement
Certain statements in this news release constitute "forward-looking information" under applicable Canadian securities laws. Words such as anticipate, believe, estimate, expect, intend, and similar expressions, as they relate to Cannibble or its management, identify forward-looking statements. Forward-looking information in this news release relates to the benefits we expect to gain from the initial order for our products from the national supermarket chain and our aspirations to become a major provider of hemp edible products in the United States. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Cannibble's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Cannibble does not undertake any obligation to update such forward-looking information whether because of new information, future events or otherwise, except as expressly required by applicable law.
SOURCE: Cannibble Foodtech Ltd.
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