Beleave Inc. (CSE:BE) (“Beleave” or the “Company”) is pleased to announce that it is has filed an application with Health Canada and, once approved, is ready to proceed with phase one in Chilliwack of the its recently-announced indoor cultivation cannabis project in British Columbia.
Less than two weeks ago, the Company announced the ambitious new project, jointly-designed by Beleave and Kannavis Biotech Corp., on a 50/50 operating expenditure and revenue partnership, that will encompass a total of ten indoor growing facilities approximately 87,000 square feet each.
This project is fully capitalized and will carry newest products including strains of cannabis not yet offered in Canada, as well processing of newly acquired and developed products that will include edibles, drinks, and other non-combustible cannabis products that Beleave will be releasing to the general public in the near future.
“We’re very pleased with our progress, and we anticipate receiving the approval from Health Canada,” said Andrew Wnek, Beleave CEO. “Once completed, the entire project will add hundreds of thousands of square feet of superior indoor grow space to our growing capacity. We will continue to update our stakeholders on its progress as developments arise.”
The company plans to have phase one fully built, outfitted, and producing cannabis for Q2 2019.
ABOUT BELEAVE INC.
Beleave is a vertically-integrated Canadian cannabis company headquartered in Oakville, Ontario, that operates streamlined facilities throughout Canada to cultivate high-quality cannabis flower, oil, and extracts with funded capacity in excess of 150,000 kg per year.
Fully-licensed to cultivate and sell medical and recreational cannabis, Beleave is leading the way through research partnerships with universities to bridge the gap between science and tradition and to develop pharma-grade extracts and derivatives. Beleave is currently developing new product lines for October 2019 as the recreational market is expected to allow for food and beverage-based cannabis products.
Beleave is growing its storefront and online sales presence rapidly through its wholly-owned subsidiaries, Beleave Kannabis Corp. and Seven Oaks, which are licensed for medicinal and recreational sales respectively. The company’s first retail location is opening this fall in Llyodminster, Saskatchewan. Beleave has also developed a network of medical cannabis clinics in Ontario and Quebec under the Medi-Green banner.
Through its majority ownership of Procannmed S.A.S., Beleave has access to 27 hectares of outdoor grow space and is fully licensed to cultivate, produce, extract and distribute medical cannabis in Colombia to capitalize on exports and the expanding Latin American market.
This news release contains “forward-looking information” within the meaning of applicable securities law (“forward-looking statements”). The use of any of the words “plan”, “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “believe” and other similar words, or statements that certain events or conditions “may” or “will” occur are intended to identify forward-looking information. These statements are only predictions. 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. Since forward-looking information addresses future events and conditions, by its very nature it involves inherent risks and uncertainties. This information speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of 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.