Agreement establishes Elysian as the exclusive Cannablue licensee in the United States
FAYETTEVILLE, Ark.–(BUSINESS WIRE)–Fortium Holdings Corp. (“Fortium” or the “Company”) (OTC: FRTM), today announced that its wholly-owned subsidiary, Elysian Premium Corp. (“Elysian”), has entered into an agreement with Firebreak Associates, Inc. (“Firebreak”), for the exclusive license to use the Cannablue trademarks and service marks in the United States in connection with the branding of Elysian stores and related sale of products for an initial term of five years. Cannablue’s flagship store is a premium dispensary that is fully licensed and currently operational in South Lake Tahoe, California. Additional terms of the agreement are disclosed in the Company’s Current Report on Form 8-K filed with the SEC on December 3, 2021.
“We performed extensive research on cannabis dispensaries across multiple states and identified a significant opportunity to offer customers with a high-quality environment,” stated Richard Horgan, Chief Executive Officer of Fortium. “A majority of the dispensaries we visited as part of our diligence process lacked the elements we believe are essential in enabling a top-of-class retail and customer experience. Cannablue offers a differentiated environment where the customer can view, smell, and handle products in a crisp, clean and modern upscale environment. Additionally, we believe the company’s store design and business model are scalable across multiple locations in multiple states, reflecting significant strategic value as we embark on our mission of establishing and expanding Elysian’s footprint.”
“At Cannablue, we focus on constant innovation to improve and elevate the customer journey,” added Alex Gosselin, Chief Executive Officer of Firebreak. “We take pride in our premium store design, streamlined delivery service, and interactive shopping experience. Our top priority is to scale and expand, bringing our unique model to a wider set of customers. Partnering with Richard and the Fortium/Elysian team offers an incredible opportunity to achieve our mission of establishing a Cannablue location in every state where cannabis is legal.”
In September 2021, Fortium announced its entry into the cannabis industry with the formation of Elysian to address luxury cannabis market demand.
About Fortium Holdings Corp.
Founded in 2011, Fortium is a diversified holding company. The company has two wholly-owned subsidiaries: Elysian Premium Corp. (“Elysian”) and Norr LLC (“Norr”). Elysian is establishing a premium luxury cannabis brand with the intention of running a fully vertically integrated model from seed-to-store as a multi-state operator. Norr is a direct-to-consumer focused action sports company that will provide quality core level equipment through online platforms such as Amazon. Norr’s goal is to break the barrier of entry to action sports for the general consumer market.
Cautionary Note Regarding Forward-looking Statements
This press release contains statements, estimates and projections with respect to anticipated future events that may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the scalability of Cannablue stores. These forward-looking statements reflect various assumptions made by Fortium concerning anticipated results, which may or may not prove to be correct. All statements contained herein that address operating performance, future direction, management and control of Fortium, events or developments that are expected to occur in the future (including statements related to earnings, expectations, sales of assets, capital expenditures, or statements expressing general optimism about future operating results) are forward-looking statements. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. Actual results could differ materially from those reflected in the forward looking statements contained herein as a result of a variety of factors, many of which are beyond Fortium’s control. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include regulatory challenges including state and local laws and regulations, potential delays or denial by state or local authorities in processing cannabis license applications, acquisitions or transfers by Elysian and its affiliates, the intense competitive forces we will face in the cannabis industry, the possibility that we are unable to acquire or commercialize assets or businesses that management identifies as viable on favorable terms or at all, and the potential for friction which may arise between us and third parties. Other risks are included in our filings with the Securities and Exchange Commission, including under the caption titled “Risk Factors” in our Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2021 and our Annual Report on Form 10-K for the fiscal year ended December 31, 2020. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as may be required by law.