TORONTO, June 8, 2021 (GLOBE NEWSWIRE) – Ayurcann Holdings Corp. (CSE: AYUR) (the “Companies“or”Ayurcann“, A Canadian extraction company specializing in the processing of cannabis and hemp to produce oils and various derivatives, is pleased to announce that it has partnered with Bazelet Nehushtan Ltd. and / or Bazelet Development has entered into a joint venture agreement to manufacture its own products and Technologies Ltd. (“Bazelet“, A licensed processor of medical cannabis based in Israel.

Bazelet, one of the largest medical cannabis companies in Israel, has launched several lines of terpene-infused cannabis oils, each of which is specifically designed for one of the different indications, symptoms and personal needs. The company’s terpene-fortified products are optimized for women’s health, the needs of the elderly, specific types of pain (muscle, joint, neuropathy), and improved night sleep, etc. Bazelet has developed proprietary intellectual property for formulations that infuse cannabis extracts and dry materials with terpenes. The joint venture agreement names Ayurcann as the Canadian manufacturer of all Bazelet products for sale in the Canadian medical and recreational market.

“We are very excited about this joint venture agreement that will allow us to bring unique products to the Canadian market,” said Igal Sudman, Ayurcann’s Chairman and CEO. “It took a lot of work to come here, but we’re excited about the opportunities that working with global companies offers.”

“We recently had the chance to meet the leadership of Bazelet and this has resulted in a new partnership that can have a huge impact on both companies,” he said. “We can hardly wait to benefit from the proprietary products for the Canadian market.”

Ayurcann will initially manufacture and sell 3 different Bazelet products. “This deal gives us the opportunity to continually introduce new and exciting products to the Canadian market,” said Sudman.

“We are open to and continue to seek out these mutually beneficial industry-focused partnerships,” said Sudman. “By working together, the industry can grow to new heights in terms of quality and profitability.”

As the company continues to explore international options, it is also diligently expanding its domestic operations and continues to seek new market opportunities and domestic partnerships to grow rapidly in the cannabis industry.

For more information please contact:
Igal Sudman, Chairman and Chief Executive Officer
Ayurcann Holdings Corp.
Tel: 905-492-3322 x30
Email: igal@ayurcann.com

Investor Relations:
Ryan Bilodeau
Tel: 416-910-1440
Email: ir@ayurcann.com

About Ayurcann Holdings Corp.
Ayurcann is a leading post-harvest solutions provider focused on providing and developing custom processes and pharmaceutical products for the adult and medical cannabis industries in Canada. Ayurcann is focused on becoming the partner of choice for leading Canadian cannabis brands by providing world-class, proprietary services such as ethanol extraction, formulation, product development and custom manufacturing.

About Bazelet Development and Technologies Ltd.
The Bazelet Group is the largest private medical cannabis group in Israel with over 10 years of experience in the cannabis market. Bazelet processes dozens of products each month in its GMP facility and then distributes them to over 140 pharmacies across the country. Bazelet sources raw materials from various cannabis farms and then makes floral products such as dried flowers and pre-rolls, as well as oils. Bazelet is a leader in developing non-generic products and leverages its strong in-house R&D team.

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Certain statements in this press release constitute forward-looking information or statements (collectively, “forward-looking statements”), including those identified with the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”. , “Intend”, “may”, “should” and similar expressions insofar as they relate to the company or its management. The forward-looking statements are not historical facts, but reflect current expectations with regard to future results or events. This press release contains forward-looking statements, including, but not limited to, statements regarding the company’s expansion plans and future production capacity. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors.

Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Factors that could cause actual results to differ materially from those expressed in forward-looking statements include, but are not limited to, the lack of regulatory approval, the ability to increase production at the Company’s facilities, the continued availability of capital and financing as well as general economic, market or business conditions. Forward-looking statements in this press release are expressly restricted by this cautionary statement. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements to differ materially from those implied in such statements. Although such statements are based on reasonable assumptions made by management, there can be no guarantee that the statements will prove to be correct or that management’s expectations or assessments of future developments, circumstances or results will materialize. While the company has tried to identify important risks, uncertainties, and factors that could cause actual results to differ materially, there are others that could cause results not to be as expected, estimated or intended, and such Changes can be material. Public health crises, including the ongoing novel coronavirus (COVID-19) pandemic, could have a significant economic and geopolitical impact that could adversely affect the company’s business, financial condition, and / or results of operations. The company assumes no responsibility to update or revise any forward-looking information to reflect new events or circumstances, except as required by law. Readers are cautioned not to place undue reliance on any forward-looking statements made by the company.