DionyMed Brands, Inc. (OTCQB: DYMEF) (CSE: DYME) operates as a multi-state cannabis brands platform, supporting cultivators, manufacturers, and brands in the cannabis market. U.S.-listed shares surged 46.20% on Tuesday, September 3, 2019. Over the past month, DionyMed Brands has seen an average daily volume of 100,016 shares. However, on Tuesday, 190,655 shares traded hands, equating to $176,170 in dollar volume.
Shares surged Tuesday after DionyMed announced it has received three provisional licenses in the state of California. DionyMed now holds two retail licenses in Los Angeles and San Francisco and one distribution license in Los Angeles. In addition, DionyMed currently holds provisional distribution, manufacturing, and non-storefront retail licenses in Oakland and a provisional distribution license in Santa Rosa. Edward Fields, CEO of DionyMed, commented, “This broadens our ability to effectively deliver and distribute quality cannabis products to meet the rapidly growing California market, leading the evolution in the way consumers buy cannabis products today.” Here is the full press release detailing the newly awarded provisional licenses:
DionyMed Brands, Inc. Press Release:
DionyMed Brands, Inc. (“DionyMed” or the “Company”) (CSE:DYME; OTCQB:DYMEF), a multi-state cannabis brands, distribution and delivery platform, today announced it has been awarded three provisional licenses in California, including two retail (Los Angeles, San Francisco) and one distribution (Los Angeles). DionyMed also holds provisional distribution, manufacturing and non-storefront retail licenses in Oakland, CA and an additional provisional distribution license in Santa Rosa, CA.
DionyMed received a provisional retail license from the California Bureau of Cannabis Control under its subsidiary Gourmet Green Room, Inc., for recreational and medical sales in its dispensary located at 1500 Esperanza Street in Los Angeles. This retail license includes the ability to deliver cannabis and CBD-focused products directly to consumers throughout Los Angeles and Southern California via DionyMed’s ”Chill” (www.orderchill.com) Concierge Cannabis Delivery service, which offers “on-demand” and scheduled delivery up to a week in advance.
Additionally, DionyMed was granted a provisional adult use distribution license at its Los Angeles campus, allowing DionyMed to enhance its statewide distribution footprint, which currently serves 441 of the approximately 624 state licensed dispensaries. The new licenses are in addition to the existing provisional manufacturing license at the property, as well as a cultivation license that is currently pending State approval.
Gourmet Green Room was recently added to the DionyMed platform in conjunction with its previously announced acquisition of assets from MM Esperanza 2, LLC. The dispensary, formerly doing business as Project Cannabis, is being re-launched under the brand Chill Supply Co. offering consumers a wide variety of leading cannabis brands and products. The grand re-opening is scheduled for September 2019.
DionyMed today also announced the award of a non-storefront retail provisional license in San Francisco, issued to Hometown Heart, a licensed California delivery service managed by DionyMed. The license allows DionyMed to deliver within San Francisco and the surrounding cities, the company’s largest direct-to-consumer market with more than 20,000 deliveries since its Chill Concierge Cannabis Delivery began service in April 2019.
Edward Fields, CEO of DionyMed, said, “The award of these three provisional licenses is another important milestone for DYME and a significant step forward as we continue to expand our licensed California footprint. This broadens our ability to effectively deliver and distribute quality cannabis products to meet the rapidly growing California market, leading the evolution in the way consumers buy cannabis products today.”
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Founded in 2017, DionyMed is a multi-state cannabis brands platform, supporting cultivators, manufacturers and award-winning brands in the medical and adult-use cannabis markets. DionyMed sells branded products in every category from flower to concentrates to edibles. DionyMed serves cannabis consumers through retail dispensary distribution and direct-to-consumer fulfillment with its growing portfolio of award-winning brands. Learn more at dyme.com and follow @DYME_Inc on Twitter and LinkedIn.
Forward-Looking Information and Statements
This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. Forward-looking information and statements in this press release include: statements with respect to the continued growth of the Company’s operations.
By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements, including but not limited to the risk that the Company does not continue to grow its operations at the present rate, the risk that the uptake of the Chill platform plateaus or decreases, the risk of increased competition in the direct-to-consumer cannabis delivery space and the risk factors set out in the Annual Information Form of the Company available on the Company’s profile on SEDAR at www.sedar.com.
Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.
Article By: Andrew Rego