Vancouver, British Columbia--(Newsfile Corp. - November 24, 2020) - PeakBirch Logic Inc. (CSE: PKB) (FSE: KYH2) ("PeakBirch" or the "Company") is proud to announce its expansion into the Canadian market. PeakBirch will offer Canadian consumers access to premium selections of vaporizer, glass, and accessory brands through its existing network of relationships and distribution outlets.
Canada legalized the sale and consumption of adult-use cannabis in 2018 and has since become a fast-growing market. Canadians spent approximately $244.9 million on cannabis and cannabis products in August 2020, a 5.2-per-cent increase from the previous month, with every province and territory posting monthly sales gains for the third straight period, as reported by the Government of Canada based on data it collects from the Canadian Cannabis Tracking System. This represents a year over year increase of approximately $125 million from 2019. PeakBirch is well positioned to take advantage of this rapid growth through its established network of e-commerce stores and brands.
"We are excited about entering into the Canadian market and are well positioned to make significant inroads and offer a competitive product through our existing network of sites: Namastevaporizers.com and Everyonedoesit.com. We strategically timed our entry into the Canadian market to coincide with the start of the holiday shopping season to maximize both revenue growth and market penetration. We see the Canadian market as a first step into expanding into other international markets," says Marc Mulvaney, CEO of PeakBirch.
In addition to expanding internationally, the US took another step forward in legalizing cannabis. In November of 2020, U.S. voters of several states have approved ballot measures to legalize recreational cannabis in Arizona and New Jersey, and both recreational and medical use in South Dakota.
"There's a lot of potential in the US cannabis market and we are investing heavily into expanding our competitive edge over competitors through better use and integration of technologies such as geo-targeting, SAAS solutions, and fulfilment driven by algorithmic logic," says Marc Mulvaney, CEO of PeakBirch. "This will ensure that we continue to operate in a profitable and sustainable manner."
PeakBirch Logic specializes in expanding the online presence and revenue streams of niche e-commerce websites with established domain authority and a track record of sustainability. The Company's executive team have several decades of combined, hands-on experience growing retail brands within the cannabis industry.
To learn more about PeakBirch's expansion into Canada, please contact PeakBirch using the information below.
CONTACT
Marc Mulvaney, CEO
Phone: (725) 218-3097
Email: investors@peakbirch.com
About PeakBirch
PeakBirch is a cohesive ecommerce technology group scaling multiple online businesses to become internationally successful brands. With a strong focus on consumer journey, deep analytics and AI powered trend analysis Peakbirch unlocks the true growth potential of customer-centric brands by providing revenue acceleration with customer experience optimization via a lean platform. Through a combination of the latest digital best practices and a proven team, Peakbirch Logic is committed to generating significant and sustained return on investor capital over the long-term.
Neither the Canadian Securities Exchange nor its regulations services provider have reviewed or accept responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING INFORMATION
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include the cost of goods to be sold under the Company's drop-shipping model, changes in government regulations or enforcement, the ability for the Company to expand its US operations or expand to international markets including Canada, the success of the Company during the holiday season and on an ongoing basis, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws. This press release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Please refer to various risk factors discussed in the Company's continuous disclosure, including its listing statement, under the Company's profile on www.sedar.com.
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