Lotus Completes Record Harvests and Reports Profit in Fiscal Year 2020 Results

Lotus Ventures Inc. (CSE: J) (OTC: LTTSF) (FRA: LV9) (“Lotus” or the “Company”) the licensed producer that owns Lotus Cannabis, a trusted cannabis brand in Canada is pleased to report approximately $4.6 million in sales and $1.5 million in net income for the twelve-month period ending August 31, 2020.

Fiscal Year 2020 Business Highlights

During the first year of production “The Lotus cultivation team has demonstrated the value of combining years of growing experience with a sophisticated production facility. The Lotus strains have consistently yielded high THC and terpene levels. This has been the bedrock of our success this year where we’ve had significant progress in regard to sales and marketing, increasing our brand’s awareness and establishing reliable wholesale relationships across Canada. We look forward to expanding our existing production and continuing our strong sales over the next fiscal year” said Lotus CEO Dale McClanaghan.

The audited Annual Financial Statements and accompanying Management Discussion and Analysis for the period ending August 31, 2020 is available on the Company’s SEDAR profile at sedar.com

ON BEHALF OF THE BOARD:
Lotus Ventures Inc.
“Dale McClanaghan”
Dale McClanaghan, President and CEO

About Lotus Ventures Inc.
Lotus Ventures Inc. (CSE: J) is the publicly traded licensed producer that owns Lotus Cannabis Co., a trusted cannabis brand in Canada. Lotus grows rare and new-to-market strains of cannabis, while providing consistency and reliability through its innovative purpose-built facility that was created in BC’s North Okanagan region. The initial facility was designed for the ideal growing conditions that cannabis plants need to thrive in, using a high-performance harvest schedule with fresh biweekly harvests. Lotus has decades of growing experience and uses an entirely handcrafted production process created by one of the region’s most knowledgeable growing teams.

For Further Information:

President & CEO
Dale McClanaghan
[email protected]
604-644-9844

Investor Relations
Daniel McRobert
[email protected]ca
604-842-4625

To learn more, visit lotuscannabis.ca/investors or follow the Lotus brand on social media.

Twitter: @lotuscannabisco , LinkedIn: @lotuscannabisco , Instagram: @lotuscannabisco Facebook: @lotuscanna

Forward Looking Information:
The information contained within this news release has been prepared by Lotus Ventures Inc. This document includes certain statements that are not descriptions of historical facts but are forward-looking statements. Such statements include, among others, those concerning our expected financial performance and strategic and operational plans, our future operating results, our expectations regarding the market for medical and recreational cannabis products, our expectations regarding the continued growth of the medical and recreational cannabis market, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Users are cautioned that any such forward-looking statements are not guarantees of future performance and that a number of risks and uncertainties could cause our actual results to differ materially from those anticipated, expressed or implied in the forward-looking statements. These risks and uncertainties have not been documented or mentioned in this document nor other communications made by the company. The words “believe,” “expect,” “anticipate,” “project,” “targets,” “optimistic,” “intend,” “aim,” “will” or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. The Company assumes no obligation and does not intend to update any forward-looking statements, except as required by law.

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.