EDMONTON, ALBERTA, CHATHAM, ONTARIO and TEL-AVIV, ISRAEL, March 02, 2023 (GLOBE NEWSWIRE) — Atlas Global Brands Inc. (CSE: ATL) (“Atlas Global”), a cannabis company with expertise across the value chain, is pleased to announce that on February 28, 2023, the Company entered into an exclusive international licensing agreement with Calvin Broadus Jr. a.k.a “Snoop Dogg”. The Agreement, which lasts up to five years, grants Atlas Global the exclusive right to use the Artist’s name, likeness, logos, trademarks or other approved intellectual property to produce, package, manufacture, distribute, sell, advertise, promote and market cannabis flowers, pre-rolls, concentrates, oils and edibles, and personal vaporizers for medical purposes in Germany, Israel, and Australia and recreational purposes in Canada.
“I chose Atlas to represent and launch my new brands for their innovation and global reach. I am excited to work with their team to select my favourite strains for my brands and fans,” said Snoop Dogg. “You know they will be amazing because they will be personally approved by me.”
“Snoop Dogg is one of the most iconic figures in cannabis culture and it’s an honour to collaborate with him,” commented Bernie Yeung, CEO of Atlas Global. “Consumers love Snoop, and our collective goal is to deliver premium products in all cannabis categories that will consistently exceed consumer expectations.”
Atlas Global will selectively source, package, and distribute directly in Canada and through approved distribution partners internationally. All Snoop Dogg branded cannabis products will be launched only in legalized cannabis markets.
About Atlas Global
Atlas Global is a global cannabis company operating in Canada and Israel with expertise across the cannabis value chain, including cultivation, manufacturing, marketing, distribution, and pharmacy. Atlas currently distributes to eight countries: Australia, Canada, Denmark, Germany, Israel, Norway, Spain, and the United Kingdom. In addition to a differentiated product mix, Atlas operates three licensed cannabis facilities – one with EU-GMP and two with GACP and CUMCS certifications – along with five medical pharmacies and one Trading House in Israel. Atlas expects to drive incremental commercial opportunities with an enhanced brand and SKU portfolio, while delivering accretive margin expansion by capitalizing on its strategy – maximize value in delivering quality products to global markets through its vertically integrated supply chain. Learn more by visiting: www.atlasglobalbrands.com
About Snoop Dogg
An Entertainment Industry Mogul, Snoop Dogg has reigned for nearly three decades as an unparalleled force who has raised the bar as a globally recognized innovator. Snoop Dogg is an American rapper, singer, songwriter, actor, record producer, DJ, media personality, businessman and Icon. In addition to his extensive work in music, Snoop Dogg is a serial entrepreneur with endeavors in Web 3.0, tech, entertainment, lifestyle, global consumer brands, food/beverage and cannabis industries.
Chief Executive Officer
Media and Investor Relations
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements and information may include, among other things, statements or information relating to our business strategy (including expected growth rate), any estimate of potential earnings and margins, expected growth in the global market for our products, market growth and market penetration, timing of product development (both for future products and enhancements of existing products), expectations regarding expenses, sales, acquisitions and operations, our estimates regarding our capital requirements and our need for and ability to obtain additional financing, our expectations for the cost and timing of achieving our business objectives, our competitive position, and anticipated trends and challenges in the markets in which we operate including the regulatory environment.
Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which Atlas will operate in the future, including: general business and economic conditions; the demand for our products; anticipated costs and ability to achieve goals, business plan and growth strategy; the availability of financing on reasonable terms as needed; our ability to attract and retain skilled staff; our ability to complete any contemplated transactions; and that there will be no regulation or law that will prevent us from operating our business. Although the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect.
Forward-looking statements and information are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements or information, including but not limited to: the integration of the businesses involved our recently completed business combination; business, economic and capital market conditions; the ability to expand our business internationally; the ability of the Company to make payments of principal and interest on its outstanding debt; the ability to refinance outstanding debt if required; the ability to manage our operating expenses which will increase significantly through business expansion and may adversely affect our financial condition; our ability to manage working capital; our ability to obtain additional financing as needed; potential dilution of the Company’s share capital from future financing; our ability to successfully define, design and release new products in a timely manner that meet our customers’ needs; our ability to remain competitive as competitors develop and release products; the ability to find and finance suitable acquisitions; legal and regulatory uncertainties; risks inherent in foreign operations in the countries in which the Company or its subsidiaries operates, including political, economic, legal, military and sovereign risk; market volatility in response to heightened inflation and the impact on demand and pricing for our products; exchange rate fluctuation; price and volume volatility of the Company’s shares; our relationships with our customers, distributors, suppliers and business partners; volatility in cannabis supply and demand; logistics issues, delays or delivery costs; ability to meet target production; alteration of supply contracts; conflicts of interest; quality control; our ability to attract, retain and motivate qualified personnel; our dependence on key personnel and the sufficiency of their expertise in managing a public company; our failure to develop new products; our ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; product liability and recall; the risk that consumer interest in and sentiment towards Atlas products adversely changes; the impact of COVID-19 or other viruses and diseases on Atlas’ ability to operate; equipment failures; unanticipated increases in operating costs; security threats; operating in a relatively new industry; government regulations and laws regulating cannabis production and distribution and changes thereto; the availability and validity of licenses and permits required to operate the Company’s business; changes or developments affecting the Company’s production facilities; and failure of counterparties to perform their contractual obligations.
Although the Company believes that the assumptions and factors used in preparing the forward-looking information are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all..New risk factors emerge from time to time, and it is impossible for the Company’s management to predict all risk factors, nor can the Company assess the impact of all factors on Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ from those contained in any forward-looking information.
The forward‐looking statements set forth herein concerning the Company reflect management’s expectations as at the date of this news release and are subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward‐looking statements, whether as a result of new information, future events or otherwise, other than as required by law.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.