Toronto, Ontario–(Newsfile Corp. – November 26, 2019) – EuroLife Brands (CSE: EURO) (FSE: 3CMA) (OTC PINK: EURPF) (“EuroLife” or the “Company”), a vertically integrated enterprise focused on the pan European hemp, cannabinoid, and health & wellness sector, is pleased to announce plans to launch its own exclusive hemp cigarette brand, “HANF SWISS”, for which the Company will initially focus distribution efforts in the European marketplace. It is the intention of EuroLife to distribute HANF SWISS hemp cigarettes throughout various bricks-and-mortar outlets in Europe, alongside its own CBD consumer package goods e-commerce marketplace once fully operational.
The launch plans of HANF SWISS coincide with the recent announcement by EuroLife on November 22, 2019 whereby the Company entered into a binding letter of intent for a participation interest in a large-scale advanced staged hemp cultivation project near Dresden, Germany. By closing on the letter of intent, EuroLife will have a consistent supply of hemp filler from the Dresden cultivation project. HANF SWISS hemp cigarettes will be tobacco free, nicotine free, and will be rolled in organic hemp paper with a natural wood pulp filter.
“As we work towards closing on our interest in the Dresden hemp cultivation project, we will continue to proactively incubate down stream business verticals with the aim of maximizing margin capture on cultivated feed-stock supply,” commented Shawn Moniz, President and CEO of EuroLife Brands. “Upon finalization of our ownership position, EuroLife intends to aggressively roll-out synergistic and high-value brands for distribution into the European marketplace. The introduction of HANF SWISS hemp cigarettes signals the foray into one of the fastest growing market segments of the cannabis industry: dried and smokable hemp flowers. Recent market reports suggest more-and-more smokers are turning to hemp because it contains no tobacco, no nicotine, and is rich in various potentially beneficial compounds such as CBD and terpenes.”
A recent industry report from Research and Markets suggests the global cigarette market will be valued at an estimated US $1,124 billion by 2024, and is expected to grow at a 4% CAGR over the next five years. With the recent marked increase in cases of health problems associated with electronic cigarette and vaporizer use, natural hemp cigarettes afford consumers another modality of ingestion from which to choose. Further, according to data from Brightfield Group, a survey of more than 5,000 CBD users found that 24% have used CBD to quit smoking and replace cigarettes with smoking hemp or vaping. Additionally, according to the same report, 41% of quitters have replaced tobacco entirely with hemp CBD. The growing availability of hemp cigarettes in cannabis friendly jurisdictions, like Germany and much of the European Union, will likely see the dried and smokable hemp flower market continue its impressive growth trajectory.
About EuroLife Brands Inc.
EuroLife Brands (CSE: EURO) (FSE: 3CMA) (OTC PINK: EURPF) is building a vertically integrated enterprise focused on the pan European hemp, cannabinoid, and health & wellness sector.
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Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Issuer’s future plans, objectives or goals, including words to the effect that the Issuer or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company’s Management’s Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on www.sedar.com.
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