TSX-Venture Exchange: SUGR, SUGR.WT

CALGARY, Alberta, Dec. 03, 2018 (GLOBE NEWSWIRE) -- SugarBud Craft Growers Corp. (“SugarBud” or the “Company”) is pleased to announce that it has engaged Peters & Co. Limited, an independent investment dealer which specializes in Canadian energy corporate finance, advisory, and research, to market its oil and gas assets for a potential sale. Given the nature of the process, SugarBud does not intend to provide updates until such time as the Company approves a definitive transaction or otherwise determines that further disclosure is advisable.

Craig Kolochuk, President and Chief Executive Officer of SugarBud stated: “The monetization of our oil and gas assets is the next step in SugarBud’s evolution from an oil and gas company to a pure-play cannabis company. Any parties interested in acquiring our oil and gas assets will have until December 18, 2018 to submit their bids.”

About SugarBud Craft Growers Corp.

SugarBud is a Calgary based emerging cannabis company engaged in the development, acquisition, production and distribution of cannabis in Canada.

For further information regarding this news release, please contact:

Craig Kolochuk
President & Chief Executive Officer
SugarBud Craft Growers Corp.
Phone: (403) 875-5665
E-mail: craigk@sugarbud.ca
Jeff Swainson
Chief Financial Officer
SugarBud Craft Growers Corp.
Phone: (403) 796-3640
E-mail: jeffs@sugarbud.ca

Investor Relations Contact
Gary Perkins, President
Tekkfund Capital Corp.
Tel: (416) 882-0020
E-mail: garyperkins@rogers.com

Peters & Co. Limited Contact
Frank Eldridge, Vice President, A&D
Peters & Co. Limited.
Phone: (403) 261-2287
E-mail: feldridge@petersco.com

Website: http://www.sugarbud.ca/

Address: Suite 620, 634 - 6th Avenue S.W., Calgary, Alberta T2P 0S4
Telephone: 403-532-4466
Fax: 587-955-9668

Forward Looking and Cautionary Statements

This news release may include forward-looking statements including opinions, assumptions, estimates, the Company’s assessment of future plans and operations, and, more particularly, statements concerning the monetization of its oil and gas assets and the receipt of any bids regarding the same. 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 the Company which include, but are not limited to, receipt of bids in respect of the sale of its oil and gas assets. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company 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: regulatory and third party approvals not being obtained in the manner or timing anticipated; changes in general market conditions; industry conditions and events; competition from other industry participants; and other factors more fully described from time to time in the reports and filings made by the Company with securities regulatory authorities. Please refer to the Company’s annual information form (“AIF”) for the year ended December 31, 2017 and management’s discussion and analysis (“MD&A”) for the three and nine months September 30, 2018 for additional risk factors relating to the Company. The AIF and MD&A can be accessed under the Company’s profile on www.sedar.com.

Except as required by applicable laws, the Company 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.