Bluma Wellness Inc. Sets Sixth One Plant Florida Retail Dispensary and Delivery Center in Avon Park, Florida to Open Date

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TORONTO – () – Bluma Wellness Inc. (the “Society” Where “Bluma well-being“) (CSE: BWEL.U) is pleased to announce that its wholly owned operating subsidiary, One Plant Florida, intends to open its sixth dispensary and delivery center, located in Avon Park, in Florida, no later than Monday, October 19. 2020, subject to receipt of all required regulatory approvals from the City of Avon Park and the Florida Office of Medical Marijuana Use (“OMMU“).

One Plant Florida’s Avon Park site will be located at 299 US Highway 27 S, Avon Park, FL 33825, enabling One Plant Florida to serve qualified patients in Highlands County and throughout Central Florida.

“We are very excited to join the Avon Park community and look forward to having a long and productive relationship with the community and its patients,” said Brady Cobb, CEO of Bluma Wellness. “This new location will allow us to better serve Central Florida patients as we continue to focus on expanding and optimizing our statewide door-to-door delivery and curbside pick-up network. . ”

Bluma Wellness intends to open three (3) additional One Plant Florida dispensaries and / or delivery centers in Orlando (Fern Park), North Miami and Bonita Springs by the end of 2020, pending receipt of all municipal and regulatory approvals required from OMMU.

Qualified patients can learn more about the Company’s dispensary locations by visiting www.oneplant.us.

One Plant Florida sets single-day sales record on October 10

Additionally, the company is proud to announce that on October 10, 2020, One Plant Florida achieved record gross sales of US $ 129,693.76 in a single day at its five (5) existing retail dispensaries and operating in Boynton Beach, St. Petersburg, Jacksonville Beach, Port St. Lucie and Ocala, Fla., based on data from the company’s Biotrak / Alleaves e-commerce and seed-for-sale tracking system.

The record-breaking sales day comes after One Plant Florida recently opened its fifth dispensary and delivery center, located in Ocala, Fla., On September 25.

Bluma Wellness Announces Debt Settlement Agreement

The Company also announces that it has entered into a debt settlement agreement with an arm’s length creditor (the “Creditor“) who provided advertising services to the Company (the”Debt settlement agreement“). Pursuant to and subject to the conditions of the Debt Settlement Agreement, the Company will issue a total of 421,687 common shares in the capital of the Company (each a “Ordinary share) To the creditor at a deemed price of US $ 0.415 per common share, in settlement of the debt owed by the company to the creditor in the aggregate amount of US $ 175,000.00. The common shares will be subject to a legal hold period which will expire four months and one day from the date of issue in accordance with applicable securities laws.

About Bluma Bien-être inc.

Bluma Wellness Inc. owns and operates a licensed, vertically integrated medical cannabis company in the State of Florida, doing business as “One Plant Florida”. One Plant Florida grows, processes, distributes and sells medical cannabis to qualified patients in the state of Florida through multiple retail dispensaries and an innovative door-to-door e-commerce home delivery service. -wears the next day, providing convenient access to its customers and meeting the demands of an evolving retail landscape. Bluma Wellness plans to continue to expand its cultivation and distribution business as the Florida market expands and may enter other U.S. states where the production, distribution and use of cannabis is permitted by law. of State.

Additional information

The securities of the Company have not been and will not be registered under the US Securities Act and may not be offered or sold in the United States or to a US Person absent registration or an applicable exemption. of the registration obligation. This press release does not constitute an offer to sell or the solicitation of an offer to buy and there will be no sale of securities in any jurisdiction in which such an offer, solicitation or sale would be illegal.

Forward-looking information

This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws, including information relating to the planned opening of the One Plant Florida dispensary and delivery center in Avon Park, Fla. planned opening of additional dispensaries and delivery centers in Florida, issuance of common stock under the debt settlement agreement and the company’s strategic business plans. Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been deemed appropriate, that the expectations reflected in this forward-looking information are reasonable, it do not place undue reliance on them because the Company cannot guarantee that they will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated in these statements due to a variety of known and unknown risks and uncertainties, including, without limitation: risks relating to the illegality of cannabis under US federal law and the risks of US federal enforcement actions related to cannabis-related activities; the Company’s ability to comply with all applicable government regulations in a highly regulated business; negative changes in the political environment or in the regulation of medical cannabis in the state of Florida; the risk of disruption to the Company’s business and operations due to the COVID-19 pandemic; negative changes in public opinion and perception of the cannabis industry and cannabis use; growing competition in industry; product liability risks and other safety-related liabilities arising from the use of the Company’s cannabis products; the Company’s limited operating history without any guarantee of profitability; the Company’s ability to access future financing if necessary or on terms acceptable to the Company; the risk of default on its existing debt; risk of shortages or increases in the prices of key inputs, suppliers and skilled labor; risks inherent in the operation of farms such as pests and crop failure; loss of licenses; dependence on key personnel; cybersecurity risks; constraints on the marketing of products; fraudulent activity by employees, contractors and consultants; tax and insurance risks and litigation risks.

The forward-looking information contained in this press release is made as of the date of this press release. The Company does not undertake any obligation to update forward-looking information, except as required by applicable securities laws.


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