Pyxus' Indirect Subsidiary FIGR Heads West, Introducing Product in British Columbia

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Apr 08, 2020, 06:50 ET

MORRISVILLE, N.C., April 8, 2020 /PRNewswire/ -- Pyxus International, Inc. (NYSE: PYX), a global value-added agricultural company, is pleased to announce its wholly owned indirect subsidiary Figr Brands, Inc. has introduced its legal recreational cannabis products into British Columbia, marking Figr's first western provincial entry in its planned expansion across Canada. Figr's cannabis products, including the brand's two newest strains, are now available for purchase through BC Cannabis.

"Figr's entrance into British Columbia is an exciting step for Figr, as the company continues to expand across Canada," said Pyxus President and CEO Pieter Sikkel. "We are proud of Figr's dedication and commitment to providing Canadians new and continued access to high-quality, fully traceable cannabis products, particularly as Canada navigates the unprecedented challenges of the COVID-19 crisis. Cannabis is considered an essential business in British Columbia, and Figr is committed to meeting the demand of consumers while protecting the health and wellbeing of its employees."

Within the last nine months Figr has expanded into three new markets across Canada, as well as introduced its initial suite of Figr 2.0 products. Figr's products are now available in five Canadian provinces through retail locations and online stores, including Prince Edward Island, Nova Scotia, New Brunswick, Ontario and British Columbia.

All of Figr's cannabis products are tracked from seed-to-sale by SENTRI℠, Pyxus' proprietary track-and-trace platform. Data collected in the platform documents a product's supply chain journey, and can be shared with the consumer in order to promote transparency and quality.

About Pyxus International, Inc.
Pyxus International, Inc. (NYSE:PYX) is a global agricultural company with more than 145 years' experience delivering value-added products and services to businesses and customers. Driven by a united purpose—to transform people's lives, so that together we can grow a better world—Pyxus International, its subsidiaries and affiliates, are trusted providers of responsibly sourced, independently verified, sustainable and traceable products and ingredients. For more information, visit www.pyxus.com.

About Figr Brands, Inc.
Figr is a vertically integrated legal cannabis company headquartered in Toronto, Ontario, that operates under one sole purpose: to put character into everything it does. Figr cannabis is sourced from the company's two licensed subsidiaries located in Charlottetown, Prince Edward Island, and Simcoe, Ontario. Figr is a wholly owned indirect subsidiary of Pyxus International, Inc. (NYSE: PYX). For more information, visit www.figr.com.

About SENTRI℠
SENTRI is a traceability platform that combines technology, people and processes to provide insight into a product's source-to-market journey. SENTRI is a proprietary tool designed and maintained by Pyxus International, Inc. (NYSE: PYX), a global agricultural company with more than 145 years of experience delivering value-added products and services to businesses and customers.

Cautionary Statement Regarding Forward-Looking Statements
This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations of future events. Such statements include, but are not limited to, statements about future financial and operating results, plans, objectives, expectations and intentions and other statements that are not historical facts. Such statements are based on the current beliefs and expectations of management and are subject to significant risks and uncertainties. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results may differ materially from those currently anticipated expected or projected. The following factors, among others, could cause actual results to differ from those expressed or implied by the forward-looking statements: changes in the timing of anticipated shipments, changes in anticipated geographic product sourcing, developments in relevant capital markets affecting the terms and availability of financing, political instability, currency and interest rate fluctuations, shifts in the global supply and demand position for tobacco products, changes in tax laws and regulations or the interpretation of tax laws and regulations, resolution of tax matters, adverse weather conditions, the impact of disasters or other unusual events affecting international commerce, including impacts from the strain of coronavirus reported to have recently surfaced in Wuhan, China, changes in costs incurred in supplying products and related services, uncertainties with respect to the impact of regulation associated with consumer products business lines, including the risk of obtaining anticipated regulatory approvals in Canada and for e-liquids products in the United States, uncertainties regarding the regulation of the production and distribution of legal cannabis and industrial hemp products and continued compliance with applicable regulatory requirements, uncertainties with respect to the development of the industries and markets of the consumer products business lines, consumer acceptance of products offered by the consumer products business lines, uncertainties with respect to the timing and extent of retail and product-line expansion, the impact of increasing competition in the consumer products business lines, uncertainties regarding obtaining financing to fund planned facilities expansions, the possibility of delays in the completion of facilities expansions and uncertainties regarding the potential production yields of new or expanded facilities, as well as the progress of legalization of cannabis for medicinal and adult recreational uses in other jurisdictions. Additional factors with respect to risks and uncertainties with respect to an investment in the common stock of Pyxus International, Inc. can be found in its Annual Report on Form 10-K for the period ended March 31, 2019 and its other filings with the Securities and Exchange Commission (the "SEC") which are available at the SEC's Internet site (http://www.sec.gov). Pyxus does not undertake to update any forward-looking statements made in this press release to reflect any change in management's expectations or any change in the assumptions or circumstances on which such statements are based.

SOURCE Pyxus International, Inc.