- Geyser Brands recently commenced upgrades; it anticipates R&D and processing amendments
- The facility expansion is expected to improve the company’s focus on processing quality and consumer satisfaction
- Solace Management Group recently increased its production capacity and invested in new equipment for consumer health care and pet wellness production
Geyser Brands Inc. (TSX.V: GYSR) is a leading Vancouver-based consumer health care company producing some of the world’s most popular cannabis brands and products. The company’s licensed producer (LP), Apothecary Botanicals, has received Health Canada license amendment approval to update its 7,000-square-foot facility located in Port Coquitlam, British Columbia.
This expansion, anticipated to be complete by the end of June 2019, would allow for research and development (R&D) and processing capabilities in anticipation of receiving its licensed amendments. GYSR’s R&D license is pending Health Canada’s approval of the LP facility, though the company’s facility was recently audited by Health Canada and found to be fully compliant. The company hopes to enhance its long-term success through attaining a processing license, which Geyser Brands believes will help it capitalize in the CBD wellness product market that’s predicted to be a multibillion-dollar industry (http://nnw.fm/F7UlO).
The company’s facility expansion is anticipated to include mothering and cloning rooms, along with designated areas for working with approved seed banks. A focus on processing quality will allow Geyser Brands to ensure high-CBD seed strains with consistent cannabinoid profiles, providing a reliable quality experience for consumers via its products.
Additionally, Geyser Brands recently recognized an achievement of its acquisition target, Solace Management Group Inc. GMP-compliant Solace is now in its new manufacturing facility, which is located in Coquitlam, British Columbia.
Solace hosts a dynamic portfolio of both pet and consumer health care goods, and the new facility adds to its focus on processing quality. The 7,500-square-foot construction increases production capacity by up to tenfold (http://nnw.fm/3mDZA) and allows Solace to “develop and license new products that are either ready for production or are in various stages of development.”
In an effort to partially or fully automate processes, new equipment has also been added to the facility, including an industrial oven, advanced blending and mixing systems, rotary depositing, large-volume kettle blending, a tincture mottling system and vertical-form-fill packaging. Because of these advancements, Solace is expected to be able to meet growing market demand for its products.
In 2018, the Global Wellness Institute estimated that the global wellness economy was a $4.2 trillion market that has shown growth in recent years (http://nnw.fm/3mDZA). The teams at Geyser Brands and Solace realize the industry’s demand for product innovation and consumer satisfaction. Together, they aim to provide healthy and relevant products to a burgeoning consumer base.
“The new production facility is definitely a milestone for Solace,” Geyser Brands CEO Andreas Thatcher stated in a news release (http://nnw.fm/q08hF). “The acquisition of Solace will provide us with a great head start as we seek to establish ourselves as a leading provider of health-focused hemp and CBD products. We have some new amazing products in the queue and being able to fulfill demand is key.”
For more information, visit the company’s website at www.GeyserBrands.com
NOTE TO INVESTORS: The latest news and updates relating to GYSR are available in the company’s newsroom at http://nnw.fm/GYSR
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