- Strong execution since going public on the Canadian Securities Exchange (the “CSE”) in January 2023
- Atlas launches D*gg Lbs brand in collaboration with Snoop Dogg, first SKUs ready for OCS summer product call
- Solidifying integrated value chain with Canadian cultivation facilities and Israeli acquisitions
- Streamlining operations and leveraging existing value chain capabilities
- Atlas will host an investor webinar on June 22 at 8 AM PT/ 11 AM ET
CHATHAM, ONTARIO and TEL-AVIV, ISRAEL, June 07, 2023 — Atlas Global Brands Inc. (“Atlas Global”, “Atlas” or the “Company”) (CSE: ATL), a cannabis company with expertise across the value chain, is pleased to provide an update on the Company’s recent milestones, business integration activities and global growth catalysts. Atlas will also host a webinar on June 22, 2023, to provide an overview of the Company and its strategic objectives ahead. Investors can register to attend here. A recording of the webinar will be made available on Atlas’ investor relations website.
Sales, Marketing and International Shipments
For the summer 2023 product call with the Ontario Cannabis Store (“OCS”) Atlas is excited to launch new products under its D*gg Lbs brand, in collaboration with Snoop Dogg. The Company entered into an exclusive licensing agreement with Snoop Dogg in March 2023 to launch new brands globally in legalized cannabis markets. All D*gg Lbs products are curated by Snoop Dogg himself, with the aim to deliver premium products in all cannabis categories. Atlas will launch the following products this summer through the OCS:
- Lodi Dodi OG 3.5g flower
- Cryptic Chronic 3.5g flower
- Cryptic Blueberry 1g Distillate Infused Blunt
- Juicy OooWee 2 x 0.5g Distillate Infused Pre-rolls
- Lodi Dodi OG 1g Blunt
- Cryptic Chronic 2 x 0.5g Blunts
- Cryptic Blueberry AIO 1g Vape
- Juicy OooWee AIO 1g Vape
Atlas expects to deliver its first shipment of D*gg Lbs products to Israel from its facility in Chatham, Ontario in late June 2023, shipping three new flower SKUs. The shipment to Israel will also include Atlas’ Vertical flower brand, for a total expected shipment of close to 400 kg in product.
Vertical Integration in Israel
Atlas has a strong foothold in Israel with controlling interests in 3 pharmacies and definitive agreements to acquire controlling interests in 6 additional pharmacies in core markets in Israel, which combined will be a total of 9 pharmacies. The acquisitions of the pharmacies are expected to close subject to receipt of all necessary approvals and the satisfaction of all other customary conditions to closing. Additionally, Atlas has a definitive agreement to acquire an Israeli Trading House, located in Tel Aviv, which will be leveraged as an export distributor. Atlas intends to utilize its Trading House to hold an inventory of quality products which will be sold to all Israel-based pharmacies in the country to bring patient focused products to market. For efficiency and costs savings, the Trading House will supply Atlas’ pharmacies in Israel, strengthening Atlas’ globally owned supply chain.
Business Integration Activities
Since going public five months ago through reverse takeover of two Canadian cannabis companies and the acquisition of four Israel-based companies, Atlas’ management team prioritized streamlining operations to align with the Company’s overall international growth strategy and to enhance cost efficiency. As part of these efforts, all packaging activities have been relocated to the Company’s facility in Chatham, Ontario, enabling centralized manufacturing and maximizing production capabilities. Atlas’ facility in Chatham, Ontario now serves as the Canadian hub for the processing of domestic and EU GMP flower and oils for international markets.
Atlas completed the acquisition of GreenSeal Cannabis Company, Ltd. and GreenSeal Nursery Ltd. on April 28, 2023, a GACP & CUMCS certified indoor grow facility located in Stratford, Ontario. This facility produces 3,500 kg of flower for the domestic and international markets and will expand Atlas’ genetic pipeline for new flower cultivars and shape product innovation through its nursey program.
In close proximity to Atlas’ EU-GMP facility in Chatham, Ontario, GreenSeal will help Atlas meet the growing demand for high-quality flower in key markets such as Israel, Australia, Germany, and others.
Atlas’ two Ontario facilities increase national distribution with 18 new SKUs entered into the OCS and other provincial markets as listings permit during the Company’s fiscal 2024 year.
Key Areas of Focus
As part of its business integration strategy, Atlas will maintain its focus on streamlining operations, international growth and strengthening its balance sheet. Atlas’ go-forward business strategy is as follows:
- International growth by leveraging its EU-GMP certified facility in Chatham, Ontario and GACP & CUMCS certified facility in Stratford, Ontario for export.
- Integrated value chain expansion in Israel through the acquisition of a Trading House and pharmacies to expand its vast assortment of quality demanded products for medical cannabis patients.
- Streamline Canadian operations to support global scale-up. Utilization of two facilities in Ontario to build brands and develop innovation to scale exports of flower and other categories into international medical markets.
“The unveiling of these summer product launches – domestically and globally – marks a pivotal moment for our team and our shareholders, especially in collaboration with Snoop Dogg. Our vision is to establish Atlas as a leader in the global cannabis industry. Within a short timeframe, we have pursued five strategic acquisitions, one of which has already been successfully finalized while the others await regulatory approvals. We firmly believe these strategic initiatives will yield significant value for Atlas’ shareholders,” said Bernie Yeung, CEO of Atlas Global.
Investor Webinar
On June 22, 2023, Atlas’ CEO Bernie Yeung and CFO, Jason Cervi will host a webinar to provide an investor update at 8 AM PT/ 11 AM ET. Register here.
Management Change
Effective June 2, 2023, Jeff Gossain, Chief Operating Officer, is no longer engaged with the Company.
About Atlas Global Brands
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 two licensed cannabis facilities – one with EU-GMP, has a majority interest in 3 medical pharmacies in Israel and has entered into binding agreements for the acquisition of a majority interest in a Trading House and 6 additional medical cannabis pharmacies in Israel.
Learn more by visiting: www.atlasglobalbrands.com
