“Our cultivation experts will remain committed to producing a high-quality product and, at the same time, our development team will be moving ahead with a proposed expansion at Beleave’s current site,” says CEO Roger Ferreira. “This will continue as we follow through on our business strategy.”
Phase 1 Current On-Site Expansion
Beleave is forging ahead with its Phase 1 expansion plan, including the buildout of a 66,000 square foot hybrid greenhouse. Hybrid greenhouses combine the benefits of outdoor growing (natural light) and indoor growing (controlled environment) to produce higher quality plants and better yields than traditional greenhouses.
New technological advances will enable to the Company to use up to 75% of the production space for flower/bud cultivation. Management believes that the greenhouse will yield approximately 40 grams per square foot in each flowering cycle and it is anticipated that four cycles could be completed every year.
Phase 2 Future On-Site Expansion
If market demand necessitates further production capacity and additional cultivation space is needed, the company has identified four acres on the current property where multiple 20,000 square-foot additions can be made. Management and its consultants are currently working to determine the path forward for the Phase 2 expansion.
Agreement with Cannabis Wheaton
As previously announced, Beleave signed an agreement with Cannabis Wheaton Income Corp., a cannabis streaming company, to finance the purchase and construction of a second production facility in exchange for equity participation in a joint venture corporation and a production yield allocation of the new proposed site.
The new facility will be in Ontario, and will be designed to accommodate 200,000 square feet of cultivation space. The agreement remains subject to a number of conditions including availability of financing on the part of Cannabis Wheaton, receipt by Beleave of applicable Health Canada and other regulatory approvals, due diligence by the parties, execution of a definitive agreement and the ability of the parties to agree on future construction budgets and timelines.
Building a Strong Foundation on Research
Collaborating with academics, including experts in plant evolutionary ecology, Beleave’s cultivation team is implementing advanced quantitative genetic modeling in its breeding programs to ensure precision control of cannabinoid output.
As a complement to technology in cannabinoid production, the Company has developed highly efficient whole-plant extraction methods that retain the full cannabinoid/terpene profile of the original plant material. Furthermore, the Company is working on selective cannabinoid isolation to partner highly purified cannabinoid formulations with drug delivery technologies.
Beleave plans to develop standardized cannabinoid drug delivery products for the medicinal market, and support clinical evidence-based use of these products to promote best practices surrounding medical cannabinoid usage.
Working with clinical collaborator Dr. Mohit Bhandari, the team plans to investigate cannabinoid products for the management of pain within the context of musculoskeletal disorders.
Prior to receiving its cultivation license, Beleave raised a total of $4,100,000 through private placements with an additional $2,500,000 in capital being secured through the exercise of warrants associated with these private placements. The Company’s cash position is stable and the Company continues to receive more warrant exercises. Beleave has always been fiscally responsible and will continue to be for its stakeholders.
Beleave Inc. is a biotech company and Beleave’s wholly-owned subsidiary First Access Medical Inc. (“FAM”) is a licensed producer pursuant to the ACMPR. Beleave’s purpose-built facility is in Hamilton, Ontario.
This news release contains forward-looking information. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking information. Although the Company believes that the expectations and assumptions on which the forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. These risks and uncertainties include, but are not limited to, the Company’s ability to satisfy the conditions associated with its cultivation license, the Company’s ability to obtain a sales license and the related timing considerations, receiving regulatory approvals in connection with its proposed expansion, the availability of further financing, consumer interest in its products, competition, regulation, operational and technological risks, and anticipated and unanticipated costs and delays. Since forward-looking information addresses future events and conditions, by its very nature it involves inherent risks and uncertainties. This information speaks only as of the date of this news release. Actual results could differ materially from those currently anticipated due to several factors and risks including various risk factors discussed in the Company’s disclosure documents, which can be found under the Company’s profile on www.sedar.com.
Mergers and acquisitions (M&A) in cannabis space have helped boost the industry to new levels.
Strategic sale of non-core assets by Lobe adds non-dilutive capital and shareholder value
Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company”) is pleased to announce, further to its press release dated February 23, 2021, that it has completed the sale to Ionic Brands Corp. (“Ionic Brands”) of Lobe’s non-core cannabis assets relating to Washington-based Cowlitz County Cannabis Cultivation Inc. (“Cowlitz”) held by Lobe’s subsidiary vendor, Green Star Biosciences Inc. (the “Transaction”).
Seattle Area Grocery Chain Metropolitan Market to Begin Carrying KOIOS and Fit Soda on March 22, 2021
Adding to its existing presence on the west coast of the United States, all five KOIOS™ flavours and all four Fit Soda™ flavours will be carried in Metropolitan Market stores beginning on Monday, March 22, 2021. Serving the Seattle-Tacoma area (population 3.87 million), Metropolitan Market is one of five chains under its parent firm Good Food Holdings, which has a total of 51 stores in California, Oregon, and Washington State.
Koios Beverage Corp. (CSE: KBEV; OTC: KBEVF) (the “Company” or “Koios”) is pleased to announce that beginning on Monday, March 22, 2021, Koios’ entire line of canned beverage products will be sold at all locations of Metropolitan Market, an urban format supermarket chain in the Seattle-Tacoma area of Washington State. In Q1 2021, the Company announced multiple placements of its beverage products with regional grocers in markets on the west coast of the United States including Market of Choice in Oregon Jensen’s in Southern California and major natural grocery chain Sprouts Farmers Market which has a substantial west coast presence with over one third of its locations (360+ stores across 23 states) in California as well as Washington State 1 . The Company has also recently announced other developments relating to its expansion efforts being undertaken in 2021 such as an in-house beverage canning facility and distribution agreements with regional and national wholesale partners.
Pineapple Express Delivery Partners with CannTrust to Offer Same-Day and Next-Day Delivery for estoraTM Medical Cannabis Patients in Ontario
Ensuring estoraTMpatients have seamless access to their high-quality medical cannabis products
World-Class Extractions Inc. (CSE:PUMP)(FRA:WCF)(OTCQB:WCEXF) (the “Company” or “World-Class”) is pleased to announce that its subsidiary Pineapple Express Delivery Inc. (“Pineapple Express Delivery” or “PED”), a leading logistics technology company offering compliant and secure delivery of controlled substances and regulated products, has partnered with CannTrust Inc. to bring same-day and next-day delivery to estoraTM medical cannabis patients in Ontario
American cannabis sales hit US$17.5 billion in 2020, a research group’s new study shows.
Meanwhile, a Canadian cannabis producer began offering CBD beverages in the US, another move that shows how interested Canadians are in the overall US cannabis market at the moment.