Sugarbud Announces Product Launch to Registered Medical Patients and Initial Shipments to the Yukon

CALGARY, Alberta, March 23, 2021 (GLOBE NEWSWIRE) -- Sugarbud Craft Growers Corp. (TSXV: SUGR, SUGR.WT, SUGR.WS, SUGR.DB) ("Sugarbud" or the "Company") is pleased to announce the launch of its Craft Cannabis Collection on the CannMart Inc. VendorLink medical cannabis sales platform and the initial shipment of its Craft Cannabis Collection to Yukon Liquor Corporation ("YLC").

Select Sugarbud products are available now to registered medical patients on cannmart.com and the Company expects the initial shipments to YLC will be available in private retail stores by next week.

The initial formats shipped include Sugarbud’s exclusive PreNup 3.5g Dry Flower and Wedding Cake XX 3.5g Dry Flower and 2 x 0.5g Pre-Rolls.

YLC is responsible for the wholesale distribution of non-medical cannabis to private retailers and is the public retailer of non-medical cannabis throughout the territory under the brand Cannabis Yukon.

“We are very pleased to be expanding access to our exceptional high quality Craft Cannabis Collection to both registered medical patients all across Canada and to recreational consumers in the Yukon,” stated Sugarbud's CEO, John Kondrosky.

Sugarbud also announces that the TSX Venture Exchange (the "TSXV") has approved the listing of the 76,670,500 common share purchase warrants ("Warrants") issued pursuant to the previously announced bought-deal public offering completed on March 16, 2021. It is expected that the Warrants will commence trading on the TSXV at market open on March 25, 2021 under the trading symbol "SUGR.WR".

About Sugarbud

Sugarbud is an Alberta-based, consumer-driven boutique craft cannabis company focused on the cultivation and production of superior, select-batch, craft cannabis products. Our vision and mission are to become a trusted and well-respected consumer brand renowned for providing exceptional high-quality craft cannabis products to legal markets by delighting the most discerning of cannabis consumers.

The Sugarbud Craft Cannabis Collection offers consumers "Hand-Crafted Cannabis for a New Era". The Company is proudly Albertan and is proud to share Western Canada's long tradition of exceptional craft cannabis with the most discerning of enthusiasts. Sugarbud strives to define the intersection of product craftsmanship, quality, and value for consumers in the Canadian craft cannabis space.

Forward Looking and Cautionary Statements

This news release contains forward-looking statements. More particularly, and without limitation, this news release contains statements concerning: Sugarbud's assessment of future plans, operations and cannabis cultivation, including sales, marketing and distribution opportunities; the Company's ability to remain operating in accordance with developing public health efforts to contain COVID-19; product quality; partnerships and relationships, including with YLC; the development, production, sale and distribution of Sugarbud's Craft Cannabis Collection; future growth; the ability to fulfill purchase orders; customer satisfaction; the listing of the Warrants on the TSXV and the timing thereof; and the timing of the availability of the Company's products in the Yukon. When used in this document, the words "will," "anticipate," "believe," "estimate," "expect," "intent," "may," "project," "should," and similar expressions are intended to be among the statements that identify forward-looking statements. The forward-looking statements are founded on the basis of expectations and assumptions made by Sugarbud. Forward-looking statements are subject to a wide range of risks and uncertainties, and although Sugarbud believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements including, but not limited to: currently contemplated expansion and development plans may cease or otherwise change; production of cannabis may be lower than expected; ability to ship cannabis products may be lower than expected; demand for Sugarbud's products may be lower than anticipated; results of production and sale activities; results of scientific research; changes in prices and costs of inputs; demand for labour; demand for products; failure of counter-parties to perform contractual obligations; failure to maintain consumer brand recognition and loyalty of customers; reliance on relationships with wholesalers and retailers for distribution of products and failure to maintain strategic business relationships; intense competition, including from illicit sources; uncertainty and continued evolution of markets; product liability litigation; reliance on information technology; infringement on intellectual property; failure to benefit from partnerships; sensitivity of end-customers to increased sales taxes and economic conditions; failure to comply with certain regulations; departure of key management personnel or inability to attract and retain talent; actions and initiatives of federal and provincial governments and changes to government actions, initiatives and policies and the execution and impact thereof; the ability to implement corporate strategies; the state of domestic capital markets; the ability to obtain financing; changes in general market conditions; industry conditions and events; the size of the medical marijuana market and the recreational marijuana market; government regulations, including future legislative and regulatory developments involving medical and recreational marijuana; construction delays; risks inherent in the agricultural business, such as insects, plant diseases and similar agricultural risks which can have a significant impact on the size and quality of the harvest of cannabis crops; competition from other industry participants; and other factors more fully described from time to time in the reports and filings made by Sugarbud with securities regulatory authorities. In addition, the Company cautions that current global uncertainty with respect to the spread of the COVID-19 virus and its effect on the broader global economy may continue to have a significant negative effect on the Company. While the precise impact of the COVID-19 virus on the Company remain unknown, rapid spread of the COVID-19 virus may continue to have a material adverse effect on global economic activity, and can result in volatility and disruption to global supply chains, operations, mobility of people and the financial markets, which could affect interest rates, credit ratings, credit risk, inflation, business, financial conditions, results of operations and other factors relevant to the Company. Please refer to Sugarbud's most recent annual information form and management's discussion and analysis for additional risk factors relating to Sugarbud, which can be accessed under Sugarbud's profile on www.sedar.com. Except as required by applicable laws, Sugarbud does not undertake any obligation to publicly update or revise any forward-looking statements.

Neither the TSXV nor its regulation services provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.