VANCOUVER, BRITISH COLUMBIA – November 5, 2020 – Harrys Manufacturing Inc. (CSE:HARY, OTCQB:WSRRF) (the “Company” or “Harrys”), wishes to announce that its wholly owned subsidiary Harrys International Manufacturing Inc. has received approval for its Tobacco License from the Saskatchewan Ministry of Finance (“the License”) for wholesale distribution and sales of tobacco cigarettes in the province of Saskatchewan. As a condition of receiving the License and to ensure the Provincial Tobacco Taxes are paid, the Company is required to provide a $25,000 CAD security deposit to be held by the Saskatchewan Ministry of Finance.
The Company recently submitted a tobacco permit application to Revenu Quebec for approval of wholesale distribution and sales of tobacco cigarettes in the province of Quebec. The Company currently has tobacco wholesale license applications that are pending or under review for approval in British Columbia, Manitoba and Ontario, as well as its approved wholesale licenses for the provinces of Alberta and Saskatchewan.
Harrys continues to work with its Canadian manufacturer to receive registration approval from the Canada Revenue Agency Excise Duties and Taxes Division to facilitate ordering the required Tobacco Stamps. The Stamps are placed on Harrys tobacco cigarette products destined for sale in the designated Canadian Provinces where the Company has received a wholesale tobacco license. The Company will continue to provide corporate updates as further tobacco license applications or stamp registration approvals are obtained.
Harrys is a wholesale distributor of affordable, high quality, 100% natural tobacco cigarettes. Harrys utilizes various types of tobacco blends to satisfy customer demands and preferences for products that meet Health Canada standards. Harrys’ management team brings over 50 years of combined experience in the domestic and international tobacco industry.
For more information, please visit: www.harrysmfg.com
ON BEHALF OF THE BOARD
Director and CEO
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The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING INFORMATION
Cautionary Note Regarding Forward-Looking Statements: This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, including the Company’s expectations that the applications will be approved and the Company’s plans to commence business in the Canadian tobacco cigarette market, are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this news release. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary include, without limitation, the Company may not receive approval for the applications; the Company may not be successful in establishing a market for its cigarettes within Canada; future legislative and regulatory developments involving tobacco in Canada and/or the impact on the Company arising from the COVID-19 pandemic could have a material adverse effect on the Company’s business, results of operations and financial condition. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.