Southern Sun Pharma Opens South Africa’S First Dedicated Cbd Store and Acquires Leading African Online Cbd Retail Brand
SOUTHERN SUN PHARMA OPENS SOUTH AFRICA’S FIRST
DEDICATED CBD STORE
AND ACQUIRES LEADING AFRICAN ONLINE CBD RETAIL BRAND
TORONTO, June 5, 2019 -- AIM3 Ventures Inc. (TSXV:AIMC.P) (" AIM3")’s qualifying
transaction target Southern Sun Pharma Inc., (“Southern Sun” or the “Company”) is pleased
to announce the opening of South Africa’s first dedicated CBD store, to be launched under the
banner of the Company’s retail and brand distribution subsidiary, “Goodleaf”, as well as the
strategic acquisition of local online CBD retailer, “Africanpure”.
Goodleaf
The opening of the Goodleaf store on Buitenkant Street, Cape Town positions the Company as
a pioneer in the burgeoning South African legal cannabis sector. The launch of the first brick-
and-mortar location and the dedicated online store www.goodleaf.co.za, aligns with the
legalization of preparations containing CBD which was gazetted by the South African
government at the end of May.
“We’re excited about what Goodleaf brings to the market. The flagship Goodleaf store will offer
consumers a well curated and unique experience in an exclusive downtown space. This store
will be the first of a number of premium cannabis stores that we intend to open in high-end retail
locations across South Africa.” says Jonni Katz, Head of Brand and Retai l for Southern Sun
Pharma. As the founder of eco-conscious brands Earthchild and Earthaddict, Katz is a veteran
of the South Africa retail industry.
The physical location and the online stock a selection of leading international brands, such as
top-selling US brand, Cura Select, reflecting its premium positioning in the rapidly growing CBD
sector. It will soon complement this unique offering with its own range of CBD products under
the Goodleaf brand.
Africanpure
Southern Sun Pharma is also pleased to announce the acquisition of South Africa’s preeminent
emerging local online retailer, Africanpure. Founded in 2018, Africanpure focused on the rapid
growth of medicinal cannabis products out of Africa by offering quality, competitively priced and
locally produced CBD products.
To date, Africanpure has reported 40% monthly growth, driving sales through its own online
store (https://africanpure.co), as well as through independent brick-and-mortar stores.
The transaction forms part of the Company’s ongoing investment into retail and e-commerce,
providing an established and accessible online platform for a range of trusted, uniquely African
CBD products and bringing a talented management team to the Company.
Warren Schewitz, CEO of Southern Sun Pharma says, “As a vertically integrated cannabis
company at the forefront of the transformation of the African cannabis market, we are excited to
be building a leading, uniquely African, cannabis retail brand.”
If you have any queries regarding this press release, please contact:
AIM3 Ventures Inc.
Zachary Goldenberg
Chief Executive Officer
E-mail: [email protected]
Phone: 647-987-5083
Southern Sun Pharma Inc.
Jenna Cohen
Vice President, Corporate Development and Communications
E-mail: [email protected]
Phone: +1 647 649 4974
About AIM3 Ventures
AIM3 was incorporated under the Business Corporations Act (Ontario) and is a Capital Pool
Company (as defined in the policies of the TSX Venture Exchange (the “TSXV”)) listed on the
TSXV. AIM3 has no commercial operations and no assets other than cash.
Southern Sun Pharma
Southern Sun Pharma, a Canadian registered company, is a multi-license holder with a
dedicated focus on Africa. The Company was formed by experienced entrepreneurs with a
proven track record of building significant shareholder value, both in Africa and North
America. Southern Sun is focused on significantly lower cost production opportunities in
Africa to support its plan to distribute and supply both the local cannabis and export markets
with a focus on establishing production in countries in near proximity to its headquarters in
South Africa.
Southern Sun is also establishing a retail footprint and uniquely African brand and product line.
This includes both the rollout of their own stores as well as through partnerships and joint
ventures with major retailers and beverage distributors. The brand and retail arm of the
Company is overseen by a team of veteran South African retailers who have been successful at
building brands from inception into major retail chains.
www.goodleaf.co.za
Cautionary Note Regarding Forward-Looking Information
This press release contains statements which constitute "forward-looking information" within the
meaning of applicable securities laws, including statements regarding the plans, intentions,
beliefs and current expectations of AIM3 and Southern Sun with respect to future business
activities and operating performance. Forward-looking information is often identified by the
words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate",
"expect" or similar expressions (i) the business plans and expectations of the Company
including; and (ii) expectations for other economic, business, and/or competitive factors.
Investors are cautioned that forward-looking information is not based on historical facts but
instead reflect AIM3 and Southern Sun's respective management's expectations, estimates or
projections concerning future results or events based on the opinions, assumptions and
estimates of management considered reasonable at the date the statements are made.
Although AIM3 and the Company believe that the expectations reflected in such forward looking
information are reasonable, such information involves risks and uncertainties, and undue
reliance should not be placed on such information, as unknown or unpredictable factors could
have material adverse effects on future results, performance or achievements of AIM3 or the
Company. Among the key factors that could cause actual results to differ materially from those
projected in the forward-looking information are the following: changes in general economic,
business and political conditions, including changes in the financial markets; changes in the
perception and demand for cannabis in both local and export markets; changes in applicable
laws and regulations both locally and in foreign jurisdictions; compliance with extensive
government regulation and the costs associated with compliance; costs of building and
developing projects and product opportunities; and the risks and uncertainties associated with
foreign markets. This forward-looking information may be affected by risks and uncertainties in
the business of AIM3 and the Company and market conditions.
Should one or more of these risks or uncertainties materialize, or should assumptions
underlying the forward-looking information prove incorrect, actual results may vary materially
from those described herein as intended, planned, anticipated, believed, estimated or expected.
Although AIM3 and the Company have attempted to identify important risks, uncertainties and
factors which could cause actual results to differ materially, there may be others that cause
results not to be as anticipated, estimated or intended and such changes could be material.
AIM3 and the Company do not intend, and do not assume any obligation, to update this
forward-looking information except as otherwise required by applicable law.
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.